Our society is undergoing a transformation that is leading to fundamental changes in all areas of society. The highly dynamic crises, the volatility of established structures, and the complexity and unpredictability of events are among the characteristics of the new situation. Companies are particularly affected by these developments. In view of the unprecedented challenges society currently faces, stakeholders expect companies to contribute to societal solutions to global challenges, following clear and unambiguously communicated principles.
FleishmanHillard’s “Corporate Citizenship 2024” looks at the state of corporate responsibility in Europe. In the context of the current societal challenges, we ask how corporations think about, act on, and communicate the impact of their business operations and resume responsibility for it.
In the face of the ongoing transformation, CSR measures are no longer enough to meet the expectations of investors, customers, NGOs, policymakers and a critical public. Rather, corporate responsibility must be reflected in the business strategy. A company’s overall societal impact and its financial returns must be thought of and managed as an integrated whole. A comprehensive Corporate Citizen is thereby ideally placed to make a meaningful contribution to the transformation, manage reputational and business risks as well as increase its resilience to current and future crises.
„Risk and reputation management is becoming increasingly complex. Regardless of past and present crises: questions about corporate responsibility are being raised more often and more readily. Every time, a company’s social license to operate is at stake. The great transformation offers the opportunity to align one’s business and communication strategies according to changing expectations – the earlier the better..”
– Dr. Sebastian Schwark, Head of Corporate Reputation
About the Corporate Citizenship Study
FleishmanHillard’s Corporate Citizenship 2024 examines corporate responsibility in the framework of the ongoing transformation of our society. We first consider both the transformative processes and their effects on companies. Analyzing the environment in which companies operate today, we conclude that they must take thorough responsibility for the intended and unintended consequences of their business activities. Based on our analytical framework, we examine how eleven Western European companies define, implement and communicate their respective Corporate Citizenship.
We develop a definition of what it means to be a comprehensive Corporate Citizen that integrates the most important responsibility principles but is open to take into account company and industry characteristics. Comprehensive Corporate Citizenship best preserves the so-called social license to operate, protects against reputational damage and increases resilience to current and future crises. Our insights start at the level of strategy and communication and can be applied to all companies, regardless of industry and size.
Request now: „Corporate Citizenship 2024 – Reputation and Risk Management in the Great Transformation“
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Dr. Sebastian Schwark
Head of Corporate Reputation
