CEO: the Chief Engagement Officer

The 2014 Edelman Trust Monitor report states that 84% of respondents believe that "business can pursue its self-interest while doing good for society". Adopting this kind of thinking would obviously result in some major change for organisations. In the report it talks about the CEO becoming the Chief Engagement Officer taking responsibility for the establishment of the context in which any change will occur. This would include spelling out not only the economic rationale but also the emotion,risk and societal benefit.

The report points to a three step approach to establishing context ie.

• Participate: seek input from a broad range of stakeholders.
• Advocate: clearly articulate strategy i.e. how a proposed change improves the lives of customers as well as the bottom line.
• Evaluate: evolve behaviours based on collective outputs.

One of the many benefits of business ethics is the engagement with stakeholders so that instead of them being more of a risk to the business (e.g. employees, suppliers, investors not on-side with change) they genuinely feel part of the change, are less resistant, more positive (may even generate ideas and opportunities themselves) which helps to reduce overall cost and build better value.

Getting stakeholders involved in how a proposed change improves the lives of customers as well as the bottom line will also help to provide balance and change thinking .