The major sources of uncertainty of our age are increasingly global in nature. Pandemics, terrorism, natural disasters and the vast stream of refugees they entail – in a globalized world everything that happens, happens as if “just around the corner”.
For most of the period since World War II, globalization posted steady increases. But today we find ourselves in an age of ambiguity, with some exulting about “hyperglobalization” while others worry that globalization may have ended or even begun to reverse. The reality is actually much more nuanced.
Stakeholder dialogues are somewhat hyped these days. Why the hype? The new version of the Global Reporting Initiative guidelines is partially responsible. It put more emphasis on such dialogues.
Online shopping is still one of the main drivers of today’s boom. E-commerce, by now a mainstream mode of doing business in the US and Europe, is emerging as a powerful new growth engine in Asia Pacific.
To solve society’s larger problems, governments, NGOs and business have to work closely together. And to be effective, companies need to manage their stakeholder engagement. Effective stakeholder management requires a practical approach, but it neither replaces philanthropy nor provides a fig leaf to boost corporate image. Cisco, Nestle and Coca-Cola demonstrate the potential of shared value and how companies can profit from it in a variety of ways.
The parameters for how companies do business are being redefined. It’s time to look beyond the narrow telescope of Shareholder Value and navigate your company using the multidimensional map of Stakeholder Value.