For such a time as this – students seek new “capitalism”

I was struck by Paul Polman’s comments in this interview that students that he visits around the world are seeing the need to “evolve capitalism and create a more equitable and sustainable form of growth. They get it, they really get this need for change!”

Last week, I ran two sessions on “Risks in the global supply chain” with undergraduates at Hult Business School – representing a fairly balanced mix of students from Europe, The Americas, Asia and Africa.  We talked about global strategy making, referring to my book, “Risky Strategy” –  there was some interest. I then introduced a case study based on the research we had just completed on modern slavery in the global supply chain, in which we had talked to a number of the UK’s top retailers. The engagement levels increased dramatically.

The class discussions battled with the challenges presented by a capitalist system that requires retailers to compete in the interests of the consumers,  and the need for those same retailers to collaborate to truly be able to tackle this pernicious issue of slavery.  Has the mantra the “customer is king” in reality been translated to mean the “worker is slave”?  Is this particularly the case because the “customer” in value terms is primarily from the wealthy developed nations, and the “worker” predominantly from the poorer developing nations?

Is this a time for business leaders like Polman to challenge these basic assumptions?  Its risky… yes and ..?   Is this a time for business to become part of the solution rather than part of the problem.  The students seem to think so!