Left to Right: Ian Chinapoo - Executive Director Unit Trust Corporation, E. Gervase Warner- President & Group CEO Massy Group, Patricio Torres - Head of Market Nestlé Anglo Dutch Caribbean, Kristine Thompson, Director Chuck E Cheese’s Restaurant Franchise
Companies in Trinidad and Tobago and the wider Caribbean must lead both the private and public sectors in incorporating Shared Value at the core of their business strategy.
This message was clear from the panel discussion at the 1st Local Shared Value Forum hosted by the Arthur Lok Jack Graduate School of Business on February 28th, 2018.
Patricio Torres, Head of Market Nestlé Anglo Dutch Caribbean Region, represented Nestlé as a leader in Shared Value and a company driven by their purpose – enhancing quality of life and contributing to a healthier future. Other panel members included Ian Chinapoo - Executive Director Unit Trust Corporation, and E. Gervase Warner- President & Group CEO Massy Group. Kristine Thompson, Director Chuck E Cheese’s Restaurant Franchise was moderator for the discussion.
Torres explained that Shared Value begins with the understanding that for businesses to prosper over the long term, the communities we serve must also prosper. At Nestlé, the health of our company is intrinsically linked to the health and resilience of the society in which we operate, and this is why our focus areas are firmly embedded in our purpose. Our positive impact focuses on three areas where we believe we can add value; enabling healthier and happier lives for individuals and families, helping the development of thriving and resilient communities and, finally, stewarding the planet’s natural resources for future generations, with particular care for water.
Torres gave one example of where Nestlé is making a positive change in nutrition - Nestlé ‘s firm commitment to reducing sugar in their products. Using ORCHARD as an example Torres explained “[With] ORCHARD, we are reducing sugar by 35-50 percent, because we believe that this is the right portion, the right recipe. And even if we are losing some market share in the short term, while consumers are adopting the new taste and understanding the benefits of better nutrition, we will recover market share in the long term” to applause from the audience comprised of members of the business community and various stakeholders.
The panel discussion today represented the launch of the Shared Value Forum, which will then continue with workshops hosted by the Arthur Lok Jack Graduate School of Business and key sponsor Unit Trust Cooperation. The aim of these workshops is to help both the private and public sector develop effective shared value strategies that are directly incorporated to their business goals, allowing both business and community to thrive together.