International leaders from business, government and academia discuss global citizenship at the second annual Leadership Summit on INSEAD’S Europe campus in Fontainebleau, France
INSEAD, the Business School for the World, hosted its second annual Leadership Summit on Friday 11 April on the school’s Europe campus in Fontainebleau, France. The Summit brought together more than 250 world leaders from business, government, media and academia. The theme of the Summit was ‘Global citizenship: a cornerstone for leaders’ and explored the links between business, the environment and society and how leaders can fulfil their organisational objectives, and satisfy shareholders, while making a positive impact on society.
The Summit featured three plenary sessions and a keynote dialogue led by a group of 18 distinguished speakers, moderators and INSEAD faculty members. Hosted by INSEAD Dean J. Frank Brown, the Summit’s thought-provoking discussions were facilitated by leaders such as Carlos Ghosn, President and CEO of Renault, and President and CEO of Nissan; Imoni Akpofure, Regional Country Manager for the International Finance Corporation based in Ghana; Emeka Onwuka, Group Managing Director and CEO of Diamond Bank plc in Nigeria;
Ben Verwaayen, Chief Executive Officer, BT plc; Barbara Kux, Member of the Group Management Committee, Royal Philips Electronics; and Vineet Nayar, Chief Executive Officer, HCL Technologies Ltd..
Among the topics discussed at the Summit was how leaders can make the most of untapped markets and create a sustainable competitive advantage. Carlos Ghosn, in discussing Renault’s breakthrough agreement to mass market zero-emission electric cars in Israel by 2011, said there is a large, unfulfilled demand worldwide for zero-emission cars. ‘I believe there is a big future for zero-emission cars, so there is no incompatibility between mankind wanting to be transported and being autonomous in his transportation but at the same time preserving the planet,’ Mr Ghosn said.
Leaders at the Summit also discussed the opportunities to create long-term growth by investing in Africa. Imoni Akpofure of the International Finance Corporation, explained that if businesses ignore Africa, they will miss out on an opportunity to create new markets and achieve long-term growth. ‘The train is at the station and it is starting to leave,’ said Ms Akpofure. ‘Now is the time to get onboard.’ She said African countries have a combined GDP of $710 billion, and seven of 20 of the fastest-growing economies in the world are in Africa, five of which will grow at 8 percent in 2008. She added that in many African countries inflation is under control and governance is improving.
Ethan B. Kapstein, INSEAD Professor of Economics and Political Sciences and the Paul Dubrule Chaired Professor of Sustainable Development, discussed the major impact of industry in developing countries and cited a study he had made of Unilever’s operations in South Africa. ‘Although Unilever has only 4,000 employees in South Africa, indirectly it supports 100,000 jobs and generates 1 percent of the country’s tax revenues,’ Professor Kapstein said. ‘Moves by Unilever or other multinationals to source globally may be efficient but could undermine the local supply chain, which generates most of the domestic economic activity.’
The Leadership Summit was also an opportunity for participants to learn about the INSEAD Social Innovation Centre, which focuses on the development of sustainable economic growth and educating leaders who care about social innovation. Professor Luk Van Wassenhove, Academic Director of the Centre, said: ‘I believe that many people understand sustainability issues but I also get the impression that there is a knowledge-doing gap. Business schools can help businesses understand how to use science and technology to address sustainability issues’.
How innovation can be key to overcoming the environmental impact caused by meeting the huge energy needs of the developing world was another issue discussed at the Summit. ‘INSEAD was honoured to host such an esteemed assembly of some of the world’s most renowned leaders to discuss issues that impact societies and businesses everywhere in the world,’ said Dean Brown. ‘With campuses in Europe and Asia, and centres in Abu Dhabi and Israel, INSEAD is the world’s largest and leading graduate school of business. This Summit is a continuing demonstration of our unwavering commitment to transcultural leadership on our campuses and around the world.’
