Neville Isdell lectures on importance of corporations, capitalism as ‘force for good’
Former Coca-Cola Executive Neville Isdell hates the oft-used capitalist term, “Corporate Social Responsibility.”
Isdell — largely responsible for one of the world’s most successful companies, which employs more than half a million people — much prefers “Socially Responsible Corporations.”
The difference between the two might seem insignificant, but for Isdell, who spoke to a crowded the Russell House Theater Monday night, it’s an important one.
“Corporate Social Responsibility” or “CSR,” he said, usually is a top-down ideology often only embraced by company heads and their spouses. When the management changes, however, CSR goes out the door with it.
A socially responsible corporation, from top to bottom, is conscious of the world around it, Isdell said, rather than just doing its run-of-the-mill philanthropy.
That results in a lasting legacy that consumers notice. And in today’s marketplace, Isdell said, customers’ perception of a company largely contributes to its bottom line.
For this reason, he argued, “capitalism is still a force for good,” as most companies work to better society, well aware their customers are watching. Those that don’t will eventually be left behind, he said.
Isdell came to campus and promoted this idea of “Connected Capitalism” from his book, “Inside Coca-Cola: A CEO’s Life Story of Building the World’s Most Popular Brand,” to a crowd that snaked through the Russell House’s second floor to see him speak.
He encouraged them to consider all opportunities available, travel while they’re young and be focus on how they’ll impact the future.
“Only do things you enjoy doing,” Isdell said. “Life’s too short to do things you don’t enjoy.”
Student Body President Kenny Tracy planned the event with Dean Brian Mihalik, of the College Hospitality, Retail, and Sports Management — a personal friend of Isdell’s. The college and Student Government co-sponsored the event, which Tracy said was inexpensive, as Isdell didn’t charge a speaker’s fee — the only cost was promotion.
Tracy said the biggest message he took from the speech was Isdell’s proactive approach to business and life in general.
“The thing that stuck out to me was the importance of taking risks in your career and taking advantage of opportunities that might be outside your comfortable zone,” Tracy said. “Being conservative with your decision-making can only get you so far.”
Fourth-year hospitality management student Tamara Bryant brought back up the idea of “Socially Responsible Corporations,” saying Isdell impressed upon her that economic and social goals can be simultaneously achieved.
“Its good to know you can still be successful following morals and values,” Bryant said.