12 - minute Podcast discussing IRG Impact Study key findings
Courtesy of Google’s NoteBook LM
Courtesy of Google’s NoteBook LM
The Institute for Real Growth (IRG) and the Future of Marketing Initiative (FOMI) at the Oxford University Saïd Business School jointly led the first global study to identify best practices on the business pivot from shareholder primacy to value creation for all stakeholders - colleagues, customers, the community and investors.
The IRG Impact study is unprecedented in scope and builds on the expertise and experience of hundreds of global experts, academics and cross-functional C-suite practitioners to identify what business and leadership practices are required to drive more ‘Humanized Growth.’
The Impact Study was conducted in partnership with the National Association of Corporate Directors (NACD), Society for Human Resource Management (SHRM), Association of Chartered Certified Accountants (ACCA), and many business organizations. The full list of study partners is listed below and in the IRG Impact Study Press Release.
Oxford University
ATRenew Inc
The IRG Impact Study identifies five drivers that differentiate overperforming organizations from their counterparts. These five drivers provide a framework for understanding and implementing strategies to Humanize Growth: to create value for all stakeholders - consumers, colleagues, communities, and capital markets.
Overperforming organizations ground themselves by actively engaging with their stakeholders.
Underperformers
Overperformers
Overperforming companies approach stakeholder value creation as a business growth opportunity.
Underperformers
Overperformers
Overperforming organizations reimagine their future by taking a long-term focus.
Underperformers
Overperformers
The IRG Impact Study was launched early 2024 in New York and Oxford. Download the handout to get a summary and view the presentation's highlights. This summary includes winning Stakeholder value-creation strategies, key study findings, and essential leadership attitudes and behaviors.
IRG Advisory offers in-company support to help you drive more Humanized Growth through strategic sparring, leadership coaching, and team interventions.
The IRG Team is available to present at industry conferences and in-company events.
We also facilitate strategy and leadership retreats.
Chairperson of the World Economic Forum
… I would like to congratulate you for undertaking this new study. It is so important to show that Corporate Multistakeholder Responsibility is better understood and even more widely promoted as the basic corporate leadership concept in the 21st century.
Airbnb, Ralph Lauren,
WPP, and Save the Children
Corporate leaders constantly face balancing the ‘right’ long-term decision and the ‘necessary’ short-term priorities. The genie is out of the bottle, and no sustained corporate growth is possible without addressing key stakeholders' needs. The IRG Impact Study is important because it offers leaders a practical roadmap for success.
Partners Group
The positive role investors and the finance function can play in driving more sustainable grow should not be overlooked. The IRG Impact Study identifies best practices around new success measures and the importance of aligning incentives with strategy and offers a practical path to success.” This is key to shift the focus to true value creation versus collecting today’s financials.
Adecco
The fact that Asia-based companies and leadership experiences were incorporated into the IRG Impact Study approach and results means that the frameworks and practical recommendations add value for senior leaders globally.”
One Young World
Senior leaders too often forget that they have the next generation of consumers and leaders waiting to help them drive change right under their noses. The IRG Impact Study took a broad stakeholder approach to value creation and offers key insights and practical recommendations towards a better future.
The Coca Cola Company
It is clear from the IRG Impact Study findings that CMOs can play a crucial role in helping businesses drive more humanized growth. Partnering with HR and other functions allows Marketing to apply our skills and expertise and create value for corporate stakeholders beyond the customer, and the collaboration across functions drives impact and influence.
Vico mte
The IRG Impact Study findings validate the opportunity for companies to bring more Marketing muscle into the Boardroom, especially to help unlock the value of the ever more intangible assets driving value creation. Looking outside-in and safeguarding strategic growth resources and initiatives pays off.
Unilever
“The role of business in society is evolving, and as companies engage with more stakeholders, the lines between Marketing and other functions are converging. This change also offers new ways to build brands whilst driving short- and long-term growth.”
The IRG Impact study addresses these developments and offers concrete steps for every leader to embrace.
WPP
As business recognizes the increased importance of the colleague as a corporate stakeholder, it becomes crucial to understand be team member needs, ambitions, and value perception. The IRG Impact Study results will help HR leaders worldwide build stronger bonds across the C-suite as they collaborate to create more humanized growth for all stakeholders.
Said Business School,
University of Oxford
The IRG Impact Study results help leaders rethink the purpose of business and offer them concrete and practical steps to implement on the journey to more balanced and sustained growth. Its crucial that corporations understand they hold the power to reshape capitalism and produce profitable solutions to the problems of people and planet, not profiting from producing problems.
United Nations
Global Compact (UNGC)
Forward-thinking businesses can face the sustainability and SDG challenges with optimism, knowing there is opportunity in every crisis. The IRG Impact Study results allow them to take stock of their reality and implement changes that steer them on a more sustainable course.
CEO, NACD
Corporate boards are recognized as trusted catalysts of economic change. Boards face a myriad of strategic challenges, including meeting stakeholders' evolving expectations and creating sustainable value. As the most trusted association for board directors, NACD is pleased to partner with the Institute for Real Growth in helping equip our members, and business more broadly, with a practical roadmap to navigating this environment.
President, Page Society
Page sees the CCO at the center of the strategic discussion of how an enterprise should address the needs and concerns of its stakeholders. We were honored to participate in IRG’s research and are grateful they shared a preview at our Annual Conference. It resonated strongly with our members, and we are excited to share the deeper insights and practical lessons.
VP, Strategy and
Content, Page Society
With the exception of the CEO, the chief communication officer is the only C-Suite leader focused on the full spectrum of an organization’s stakeholders. This puts the CCO at the center of efforts to maximize value for all of them, and Page is focused on helping them play this increasingly essential role. Participating in the IRG Growth Study has helped our members shape the insights and resources that will help all leaders drive humanized growth for their organizations.
Director, Professional Insights, ACCA Global
ACCA is a globally recognized professional accountancy body providing qualifications and advancing standards in accountancy worldwide. This study has come at a crucial time to assist us to equip our members with the tools and skills they need to make the transition from Chief Financial Officer to Chief Value Officer and drive more humanized growth for their organization and its stakeholders.
Global Executive Director, International Advertising Association
The transformation from stakeholder primacy to stakeholder value is a fundamental one. To help unlock and guide our members through this key shift, I’m very happy we work together with IRG to provide tangible tools and a framework.
CEO, Association of National Advertisers (ANA)
The ANA recognizes that the success of the marketing industry is directly connected to the well-being of the larger societal ecosystem. Successful marketers recognize that they play an integral role in that societal framework, and their actions have far-reaching consequences. We are proud of our partnership with IRG and Oxford in our collective effort to support ANA members that pursue humanized growth strategies while creating value and contributing to a more sustainable and inclusive future.
ANA Lead for the
Global CMO Growth Council
The ANA and the Global CMO Growth have been proud partners of the IRG from the very beginning, collaborating on Marketing2020, Insights2020, and the Growth Study. This IRG Impact Study is of particular interest to our members because it provides a clear roadmap for companies to drive more humanized growth and how Marketers can help all stakeholders in the business maximize their collective impact.
CEO, The Marketing Society
The world of business is changing. The Marketing Society is an international community of changemakers in marketing and we know that marketers have the potential to play a leading role in changing the conversation around driving multi-stakeholder impact in business and we are proud to have supported the IRG Impact Study.
COO LIONS / CEO WARC
Marketing brings a unique, and often misunderstood perspective to Business. WARC aspires to help marketers increase their impact by driving more business growth with a fresh perspective. We are excited to share the IRG Impact Study results because the findings offer a roadmap for businesses to drive more ’Humanized Growth’ and outline a future-forward ‘Da Vinci’ leadership profile emphasizing the need for right-brain, left-brain and from the heart leadership.
CEO, The B Team and
Advisory Board Member
The very reason The B Team exists is to catalyze courageous leadership for the wellbeing of people and the planet. We are proud partners of this cross-c-suite study which recognizes what it takes to drive the transformation we need.
Leader, Spencer
Stuart Marketing Practice
Expectations on business have dramatically evolved as we shift towards a stakeholder economy, and the expectations of leadership have evolved in line. We are thrilled to partner we the IRG to uncover the distinct attitudes and behaviors required for a CMO today, to successfully lead at a time like this.
Leader Spencer Stuart
Leadership Practice
Our collaborative study with IRG demonstrates how significantly expectations of business leaders have evolved. The Impact Study findings identify the behaviors and mindsets required for C-suite leaders to grow their business sustainably.
SHRM
SHRM has always been committed to ensuring that HR remains a strategic partner to the CEO. As such, SHRM is a proud partner of the IRG Impact Study to provide a comprehensive new framework for CHROs and other C-Suite leaders to help drive more Humanized Growth.
Global Chief Transformation Officer, Mindshare
Mindshare is on a mission to drive Good Growth for clients – growth that is sustainable & enduring across multiple stakeholders. The IRG Impact study gives us valuable insight on how to deliver this and quantified evidence that multi-stakeholder strategies drive greater growth.
CEO, FGS Global
Winning support across audiences in a fast-moving, interconnected world is more important than ever. What, how, and when you communicate — and to whom — can mean the difference between success and failure. This study provides a practical roadmap for leaders as they navigate the complexity of the stakeholder economy.
Managing Partner,
KennedyFitch
Organizations are actively transitioning from a shareholder-centric approach to a holistic model, prioritizing the well-being of all stakeholders. Aligning purpose with societal impact positively transforms the business landscape and promotes sustainability and equity. The IRG Impact study provides an inspiring call-to-action for organizations and CHROs navigating the complexities of multistakeholder growth.
Founder, Carv
We are proud to be a sponsor of the IRG Impact Study and show how AI can be harnessed as a force for good. Together, we developed an approach to combine spoken language and cutting-edge data analysis to revolutionize the research of the study.
Professor of Marketing
and Innovation CKGSB
At CKGSB, our ‘Business for Good’ program supports top Chinese business executives as they navigate true value creation for society beyond economic growth. The IRG Growth Study findings track with our learning from some of the most outstanding Chinese companies and builds on the progress here in Asia.
Yale Program on
Stakeholder Innovation
& Management
Winning support across audiences in a fast-moving, interconnected world is more important than ever. What, how, and when you communicate — and to whom — can mean the difference between success and failure. This study provides a practical roadmap for leaders as they navigate the complexity of the stakeholder economy.
Managing Partner,
KennedyFitch
The research conducted by the Yale Program on Stakeholder Innovation & Management suggests that, in the long term, shareholder and stakeholder interests align. However, this doesn't make it easy for business leaders who must simultaneously deliver results while investing in the firm's long-term success. The IRG study sheds light on some practical steps leaders can take to more effectively create value for shareholders and other stakeholders.
FOMI, Saïd Business
School, University of Oxford.
The Future of Marketing Initiative (FOMI) brings together world-class academics and senior executives from some of the world's most successful companies to address marketing, advertising, communications, and media domains and technology problems. A lot has changed since the US Business Round Table committed to creating value for all stakeholders. We are proud co-leaders of the IRG Impact Study as it addresses one of the most complex business challenges impacting leaders across the C-suite and board.
FOMI - Saïd Business
School, University of Oxford.
The Impact Study brings evidence-based solutions to some of the most complex business and Marketing problems. No academic or practitioner should go it alone as they embark on driving more Humanized Growth.
Institute for Real Growth
This summer, The Economist coined the term 'Overstretched CEO' to describe how the different corporate stakeholders pull business in all directions. Business leaders recognize they must adapt to succeed in the modern, complex stakeholder economy, but until now, there has been no roadmap for the shift. The IRG Impact Study offers best practices, practical frameworks, and tools to evolve the corporate focus to value creation for all stakeholders – colleagues, customers, the community, and the capital markets.
Institute for Real Growth
Business leaders today fear getting caught in the economic and political crossfire, and so we risk losing essential lessons on successfully driving value for shareholders and other stakeholders. The IRG Impact Study captures and shares these learnings and identifies the essential role of each C-Suite function.
Institute for Real Growth
Businesses have a responsibility to society, to help solve its biggest challenges and provide prosperity and equality for all. This research is an important step in helping leadership teams understand their role and what they can do to drive positive change.
Institute for Real Growth
There have been many polarizing debates about companies and their leaders doing either too little or too much in catering to a wider set of stakeholders. Rather than adding fuel to the fire, the Impact Study focuses on providing inspiration and practical implications that help leaders take an intentional and holistic approach in stakeholder value creation.
The IRG Impact Study partners represent each function of the C-Suite landscape. They include: the National Association of Corporate Directors (NACD), the Society for Human Resource Management (SHRM), the Association of Chartered Certified Accountants (ACCA), FGS Global, the Arthur W. Page Society, the Association of National Advertisers (ANA), The Marketing Society, The B Team, Spencer Stuart, WARC, KennedyFitch, Mindshare, the Yale Program on Stakeholder Innovation and Management, and the Cheung Kong Graduate School of Business (CKGSB).