PricewaterhouseCoopers’ “Power of 10” initiative, based on the concept of responsible leadership on a global scale, was not created in a vacuum. On the contrary, extensive research was conducted—especially around the company’s annual global CEO survey—to determine that the escalating trends of globalization and connectivity were completely redefining the way companies had to conduct business, both to succeed and to survive.
The following study findings underscore the reality of globalization (the most recent data available is based on 2007/2008 data):
- 49% of global CEOs running very large corporations ($10-plus billion in annual revenue) completed a cross-border merger or acquisition in 2007; and,
- 40% planned to do so the following year.
The nature of globalized businesses requires communications professionals to take an equally global approach to their corporate responsibility efforts. Digital communications platforms and the growing prevalence of collaborative business networks make it easier to turn this challenge into an opportunity. But the first step is to acknowledge that responsible business is no longer confined within an organization’s walls.
According to the 10th Annual PricewaterhouseCoopers Global CEO report, released around the same time the company’s Responsible Leadership was launched, “An increasingly interconnected global world, coupled with continuing distrust of the business community, gives CEOs the need to re-orientate their business around the principle of creating value for all stakeholders and makes responsible business even more important.”