Connect with stakeholders
| | New from McKinsey & Company | | | | | | There's one question that guides the best CEOs as they build relationships with their organization's stakeholders: Why? Why does our company exist? Why are we relevant to our stakeholders? Why are our stakeholders relevant to us? | | | Embracing the "why" mindset leads to practices such as clarifying and operationalizing a company's social purpose, finding often surprising areas of common ground with stakeholders, and staying elevated during times of crisis, according to McKinsey senior partners Carolyn Dewar, Scott Keller, and Vikram Malhotra, as they talk about their forthcoming book, CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest (Scribner, March 15, 2022). Achieving excellence in this arena isn't simply a "nice to have": 30 percent of corporate earnings are influenced by the company's relationships with external stakeholders. That's based on more than 20 years' worth of data on 7,800 CEOs from 3,500 public companies across 70 countries and 24 industries. | | | See what the authors have to say about how the best CEOs connect with stakeholders in this fifth video of a seven-part series, and stay tuned for more on the #CEOExcellenceBook in the weeks ahead. | | | | | | | "Successful leaders manage from the outside in, not from the inside out. What do your suppliers say about you? What do your customers say about you? You need to go live outside the organization." | | | –Alexander 'Sandy' Cutler, Eaton Corporation | | | | | | | | | | | | | | | | | | | Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. | | | Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. | | |
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