Great, but why? Vision and accountability in corporate narratives (Part 1)
From COP to Davos, people look at business to lead the way in solving the world’s most challenging problems. Corporate narratives are expected to address the big picture. This is the first in a two-part series exploring vision and accountability in corporate narratives.
Corporate narratives are powerful. Like brands, they shape the identity and perception of companies, help build trust and foster loyalty. Corporate websites and annual reports are often not only the repository of the narrative but also the vehicle to develop it. Through these projects and channels, firms can help build positive reputations and support the company’s success.
People want to know the story behind the businesses or brands they choose to support. Connecting with people requires addressing their expectations. This is particularly important when society has tasked businesses to provide certainty and positivity in challenging times. This five-minute read explores how to elevate this aspect from boilerplate to the beating heart of the narrative.
The communication of the company’s purpose
It’s a truism: people expect businesses to be here for Good. It’s about creating value for society, preferably for the long term. It starts with purpose. Corporate communication should clarify why the company exists and what it seeks to achieve. Explaining what the company sells is a bonus but, as counter-intuitive as it may seem, not the focus.
Running a business is complicated, and communicating how it’s done must untangle complexity. Still, it makes sense to consistently present purpose, objectives, strategy, and business model as interrelated concepts, emphasising how they work together to drive the company forward for the common Good.
The communication of the company’s values and culture
Corporate culture plays a significant role in how things are done. Its communication covers the values, attitudes, and behaviours manifested in company operations and stakeholder relations. It also involves describing how leadership embeds and monitors culture within the company. The detailed description of the values and desired behaviours helps to understand the purpose and assess its authenticity.
The communication of how the company lives its purpose, values and culture
Accordingly, conveying how the company lives its purpose and values helps. It can be as simple as describing how company policy aligns with them or as nuanced as articulating how they manifest in the business strategy. Many will look for details on how governance aligns culture with incentives and remuneration. The subtext of comprehensive communication in these areas reinforces the licence to operate and the reputation of upholding high standards of business conduct.
In the second part of our two-part series exploring how corporate narratives should address vision and accountability, we discuss how to communicate the value placed on stakeholders, leadership, and accountability.
If you’d like to discuss this, or any other subject, please get in touch with Richard Costa, Consultancy Director, at richardc@gather.london
We’d love to know what you think.