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Call for Business Activism now Extends to Geopolitics
At a time when the world has been challenged by geopolitical conflict, economic uncertainty, climate threats and social inequalities, the stakes for business failing to take a stand and engage on societal and geopolitical issues has never been higher.
The 2022 黑料社Trust Barometer Special Report: The Geopolitical Business, conducted in 14 countries with 14,000 respondents between April and May, evinces that there is a new values mandate for business to be an ethical participant in society.
77%
on average, believe improving societal issues is a primary business function.
59%
on average, say that addressing geopolitics is a top priority for business.
Urgent Pressure for Companies to Respond to Ukraine Crisis
The conflict in Ukraine has raised the profile of geopolitics and has put it front and center on the business agenda. In fact, nearly half of respondents (47%) have bought or boycotted brands based on the parent company鈥檚 response to the invasion of Ukraine.
And moreover, employees told us that if they believe their employer to be doing well in its response to the Ukraine invasion, they will be more loyal (79%) and will recommend that employer to others (80%).
Loyalty
I want to stay working for my employer for many years
VS
Employer Advocacy
I would recommend my employer as an employer to others
While there is a rising call for business to be more engaged in geopolitics, the call also extends to CEOs, who are expected to not only be the face of the new geopolitical corporation, but they are also expected to shape policy on societal and geopolitical issues.
CEOs must lead from the front and communicate company policies and actions on geopolitics.
The smart CEO will make decisions based both on ability to do business and being aligned with corporate values.
CEOs expected to shape policy on societal and geopolitical issues including:
72%
on automation鈥檚 impact on jobs
68%
on prejudice and discrimination
61%
if companies should continue to operate in Russia
72%
on wage inequality
71%
on global warming
LAUNCH EVENT
Moderated by The Wall Street Journal鈥檚, Thorold Barker, the event included Helle Thorning- Schmidt, Former Prime Minister of Denmark, Brad Smith, President and Vice Chair of Microsoft, Alain Bejjani, CEO of Majid Al Futtaim Group, Lynn Forester de Rothschild, Founding and Managing Partner of Inclusive Capital Partners, Professor Kishore Mahbubani, Distinguished Fellow at the Asia Research Institute, and Dr. David Nabarro, Special Envoy on Covid-19 for the WHO.
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