What It Means
The world expects more of business today than shareholder returns. In addition to CSR, corporate philanthropy and cause marketing, there are increasing expectations for companies to create societal value through their core business products and services, through responsible policies and programs, and, in a relatively new development, by speaking out on societal issues.
Why It Matters
Stakeholders seeking societal value are not limited to civil activists. They include your customers and potential customers, your current workforce, your next generation of employees, and your investors. Analysts and institutions want to invest in companies that will be able to create long-term value on a sustainable basis.
How To Get There
To be credible and impactful with all stakeholders, societal value must be integrated into the company’s policies, processes, and the behavior of its businesses and people. It calls for advancing a new type of authentic differentiation.
Follow the Societal Value Progression Path™.
- PROFESSIONAL
Work here is foundational: definition, messaging and storytelling. This goes beyond traditional CSR.
- PATHFINDER
Work here begins to build measurable, manageable societal value creation.
- PACESETTER
Work here fully integrates societal value into strategy, is matriculated throughout the business and measurably impacts societal outcomes.
57% of CCOs say their companies take stands on societal issues.
* 2019 Page Global Survey.
- Watch the VideoSocietal Value Progression Path | The CCO as Pacesetter
Where are your peers on the Societal Value Progression Path?
About the 2019 Page Global Survey
In partnership with APCO Insights, Page surveyed the senior-most leaders of communications functions around the world and fielded responses from 171 for-profit corporations.
Breakdown by Revenue
Societal Value Case Study
Arçelik: A Regional Powerhouse Goes Global by Leading with Purpose
Zeynep Özbil, chief communications officer at Arçelik, shares how she is building sustainability into the company’s core business by revealing and activating its purpose.