The rise of stakeholder engagement
Changing corporate mandates
Faith in experts now exceeds faith in peers
Building trust is now the #1 job for CEOs
Business is now expected to be an agent of change
Lower level of trust
Only a minority of millennials believe businesses behave ethically
Media is now the least trusted institution
Millenials will change everything
The corporate governance foundation, which currently builds on the idea of only maximizing shareholder value, will come crashing down
A new foundation for corporations will arise in its place: it will build on the combination of trust with the values and beliefs of millennials
Consumers buy with social awareness
2/3 of consumers across international markets believe they “have a responsibility to purchase products that are good for the environment and society”
Everyone, everywhere, has a voice
100% of the Millennial generation has access to internet in many of the world’s largest economies
By 2016, 62.9 % of the population worldwide owned a mobile phone, numbers that are quickly growing to this day
Organizations are now consistently engaging in growing numbers of complex, interconnected relationships which can have significant influence on reputation, operations and sustainability.
Sources
https://www.edelman.com/trust-barometer
https://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html
https://www.brookings.edu/research/how-millennials-could-upend-wall-street-and-corporate-america/
https://hbr.org/2016/10/the-comprehensive-business-case-for-sustainability
https://www.statista.com/statistics/274774/forecast-of-mobile-phone-users-worldwide/
