As part of the Edelman Trust Barometer1, a global survey of 34,000 respondents in 28 markets, nearly six in 10 believed capitalism was doing more harm than good. The same survey shows most people not only expect but demand business to move beyond corporate decision-making and take a stance on broader issues including climate change, income inequality, diversity and immigration etc. Business is no longer seen as a distinct and separate domain but part of the social fabric.
The corollary is that it is no longer good enough simply to avoid creating problems – it is increasingly expected that businesses play an active role in driving positive change. Societal expectations of business mirror the tectonic shift in how business leaders are thinking about business – from putting investors first to putting all stakeholders first. From shareholder value to stakeholder value. And this was all before the global pandemic.
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