Business people need to re-educate themselves, advises Nooyi

Written by: Pti
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Prakash Chawla

Davos, Jan 29 (PTI) Corporate leaders need to go back toschool to re-educate themselves that business is not onlyabout making short-term profits but also sustaining long-termgrowth, advised India-born PepsiCo Chairman and CEO IndraNooyi.

Business is not just about making short-term profits, shesaid, while addressing global leaders at the 41st WorldEconomic Forum (WEF) meeting at the Alpine resort here. Theannual meeting is being attended by host of CEOs, governmentleaders and also spiritual gurus.

"We believe that short-term profits and long-termsustainability are not mutually exclusive," she said, addingthe role of management cannot be defined in such a narrowmanner, which means profit maximisation.

Management success, she regretted, has been defined in anextremely narrow way, which mean maximising profits forshareholders without considering long-term goals such assustainability.

The corporate mindset, she said, still regards adoptingsustainability as a matter of resolving conflicts ortrade-offs.

Chennai-born Nooyi is Chief of PepsiCo, which is one ofthe world''s leading company in snacks, food and beverages. Thecompany operates in 200 countries with an annual revenue ofabout USD 60 billion.

Nooyi became CEO of the company in 2006 and Chairman ayear later in 2007.

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