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RE: Steem, corporate governance and value - a new way of thinking?
As we delve more into Integrated Reporting, we'll explore the importance of stakeholders, stakeholder mapping and materiality. Customers are a critical (but not the only) stakeholder. I appreciate your comment about the comments, as I was looking forward to a robust discussion...but since I'm looking forward to a long Steemit association, I'm happy with the first few steps on this journey. Also, with the launch of King IV coming up next week, I'm looking forward to a richness of perspectives from many sectors.
Indeed, companies do generally account for the value they create with their customers under Social and Relationship Capital. However, as I mentioned in the series of posts, it's important to look at value created holistically rather than in silos, so an Integrated Report typically doesn't have a table of contents showing "our Capitals". The journey of Integrated Reporting is a massive turnaround from looking at the past at the end of the year to the entire organisation looking forward continuously throughout the year, asking itself how it's creating sustainable value in support of achieving the strategy. Typically the journey takes a few years; most tell stories of confusion the first couple of years as the strategic vision filters through the organisation and the conversation shifts from one of inputs consumed (how many hours? How much money spent?) to one of outcomes being achieved (how do our customers feel about us? Have we achieved a state of harmony with the local community?).