SIX KEY PRINCIPLES TO CORPORATE TRUST AND AUTHENTICITY
Transparency and collaborative spirit are crucial to gaining stakeholder trust. Companies need to understand their role within a larger business ecosystem, if they wish to build relationships based on trust and respect. Following the release of its research report on corporate reporting trends, London-based communications agency Black Sun breaks the theme of ‘trust’ into six key principles, with advice on how to implement them into existing communication practices.
Most FTSE 100 companies are veering towards authenticity and trust. According to Black Sun’s report, an increasing number of organisations is starting to realise the importance of stakeholders in operational and financial success, and the focus is shifting on what value they are bringing to the wider society, rather than on defending a siloed approach. In order to adapt to future changes in corporate regulations, companies need to move past simple acceptance of reporting requirements and start to embrace them in their thinking.
One way is to craft a value creation narrative, to embed stakeholders into the very company’s success. To achieve that, Black Sun’s research provides ‘building blocks’ useful to construct a narrative specific to annual reports, giving guidance on the latest regulatory updates which will come into force in the following years.
Black Sun advances six principles leading to an effective corporate narrative, based on mutual trust and respect. These values will help a company shine through its reports. Ranging from company culture to diversity, stakeholders and long-term thinking, Black Sun’s principles incorporate the key trends in business reporting and show a shifting corporate landscape, with more companies engaged in wider conversations about the impact of their purpose. By showing diverse, healthy and focused values, a company will inspire more trusted, demonstrating authenticity to all present and future business partners.
‘The Ecosystem of Authenticity’ provides help on how to approach regulatory updates in corporate reporting policies, and it will be a valuable document to tackle corporate challenges in the near future. Black Sun’s report shows the way most companies are making an effort to improve their communications, aiming for authenticity and transparency to build their corporate policies and strategies.