How Boards Can Guide Company Strategy on Social Issues

  • 📰 HarvardBiz
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 63%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Leadership teams need an approach that consistently prioritizes social issues critical to stakeholders.

For the past few years, we’ve been fielding calls from CEOs and other C-suite leaders who find themselves under increasing pressure to engage in — and take public positions on — issues that their companies would have considered outside their purviews only a few years ago. Recent research, includingCompanies are starting to recognize that there can be as much risk in inaction as there is in action, and a wrong move can have significant reputational and financial consequences.

Boards should demand from their CEOs a thoughtful decision framework to cut through the noise and ensure their companies’ words and actions are grounded in purpose, authentic to the organization, and risk-adjusted. The goal should be to create a consistent approach that helps the leadership team prioritize or weigh issues critical to their stakeholders and determine corresponding actions that ultimately support a business objective.

Track record: Does the organization already have a credible voice and/or history of engagement on the topic? If it has been silent, what has been the reaction to date? Competition: Does the issue represent an opportunity to differentiate the organization from competitors?There are various ways to better understand stakeholder views, including which issues are most meaningful to them and which they deem relevant to the company.

People want corporations to take the lead on solving society’s biggest problems. It’s time for boards to put these issues on their agenda.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 310. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인