Almost half of US executives believe they and their peers should play a leadership role in publicly shaping debate and in efforts to address sociopolitical issues such as education, health care, and foreign policy, according to the latest McKinsey Quarterly survey.1 Yet only one-seventh of survey respondents consider themselves to be playing that role now.
The few who do play a leading role are likely to be board members or CEOs and often represent privately held companies. Most of them say they are motivated primarily by personal reasons, and they usually act as private citizens. Moreover, they say a comprehensive understanding of public issues and a strong network of peers with a similar interest make it easier for them to play a leadership role. The primary barrier to being even more involved is a lack of time.
These results expand on the findings of an earlier McKinsey Quarterly survey in which business leaders around the world recognized the importance of a corporation’s contract with society and the imperative for them to engage in discussions of crucial sociopolitical issues.2 These opinions are not surprising, considering that the social and political forces that today can define and swiftly remake a...