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Governance, Leadership Article, CEO strategy
Article at a glance:

CEOs on strategy and social issues

  • Chief executives have increasingly incorporated environmental, social, and governance issues into core strategies, McKinsey research shows.
  • These CEOs are responding to increasing pressure from employees and consumers, but some also see opportunities to gain a competitive advantage and address global problems.
  • CEOs view globalization as the key development reshaping the contract between business and society. They identify talent constraints, poor public governance, and climate change as the issues most critical for their companies to address.
  • Competing strategic priorities and the failure of financial markets to recognize the importance of implementing a strategic approach to societal issues are among the barriers to change.
This article contains the following exhibits:
  • Exhibit 1: According to the respondents, society’s expectations that companies will assume public responsibilities have increased in the past 5 years.
  • Exhibit 2: CEOs ranked employees and consumers as the stakeholder groups that have the greatest impact on the way companies manage societal expectations.
  • Exhibit 3: Respondents identified environmental concerns as the most important trend influencing public expectations of business.
  • Exhibit 4: Talent constraints, poor public governance, and climate change are considered to be the most critical issues to address.
  • Exhibit 5: Competing priorities are the biggest impediment to CEOs implementing an integrated, strategic, company-wide approach.
  • Exhibit 6: There is a gap between good intentions and good deeds.

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