Following up on my recent post on the Edelman Survey that found that people trusted business more than government, let’s look at the role of business from a different angle. The most recent issue of McKinsey Quarterly adds to the thought that consumers look to business to help make the world a better place with the suggestion that business executives are eager to step up to the task.
In a survey of 721 U.S. executives, McKinsey found that 84 per cent agreed that the role of corporations went beyond just meeting their obligations to shareholders. In a show of acute self knowledge, only 100 individuals agreed that they were playing active leadership roles in addressing public issues. By public issues we’re talking the big four: health care, education, poverty and climate change. Of the 100, 56 were board members and 14 of them also CEOs. 5 were CEOs but not on a board.
So what influenced the active 100 to take a leadership role in shaping public issues? The most important factor was a strong network of peers who shared their interest in public issues alongside a strong personal knowledge and understanding of those issues. And the biggest barrier? No surprises there – a lack of time.
Some of you might think 100 out of a 721 survey is not at all impressive, but I believe it represents a groundswell of change. There may be major gaps between what business people think they ought to be doing and what they actually do, but articulating that gap is a powerful motivator. One thing is for certain, with the challenges facing our world today, the inspiration, leadership skills and acumen of senior business leaders have never been so important.
