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DIRECTIONSSUPPLEMENT
MAY /JUNE 08
TRENDS AND ISSUES IN THE WORLDOF CORPORATE REPORTING
A few years from now in a galaxynot too far away…
 
Has the challenge really changed or is it abouthow form meets content in a new online world?
Tony Manwaring
Chief ExecutiveTomorrow’s Company
Last week, I was with the CEO of a leadingproperty company, long-standing supportersof Tomorrow’s Company. He had just receivedan independent analyst’s report rating theperformance of his company best in class. Heproduces a fabulously well designed corporatereport, a glorious coffee table work of art.But he is the rst to say that what matters iswalking his investors around London, givingthem a clear ‘line of sight’ with what he isdoing with their money on the street.In so doing, he shows them what he means bysuccess: a denition which goes well beyondcutting costs much less cutting corners, andinvests in the quality of the buildings, and thevariety, life and dynamism of those who live,work and visit that urban space.The challenge is largely what it has alwaysbeen. To tell a compelling story, which sayswhat is being done, why and how, backsthis up with evidence, and shows what isdistinctive; which builds on previous reports,to ensure consistency, and uses long-termindicators; which above all is framed by whatwe call the virtuous circle of governance –mapping the company’s purpose, vision andvalues, setting out its key relationships, layingout its model for business success, and onlythen talks ‘KPIs’.But yes, there are new challenges andopportunities. They are about content –achieving sustainability outcomes, theprobability that carbon emissions reportingwill become mandatory for quoted companiesfor example. And form – electronic reportsavailable through multi-channel media, butnot if it is just an e-copy of the paper document,and only if it is user-friendly. It is the differencebetween a video and a great special edition DVD.What is really different is what happens whenform meets content in our new Web 3.0 world.Is there evidence of strategic transformationso that value is created which is protableand contributes to ‘one planet’ living? Arestories being told in our 24/7 at-worldcontinuously, so that the next annual reportis today’s edition? Are stakeholders beingtruly respected as consumers, investors,employees and citizens able to see throughthe corporate walls?The opportunity and challenge are one and thesame: to create a real-time dialogue with asmuch intimacy and integrity as the CEO whosestory I started with.
 
Directions Supplement
May / June 08
Some specifcs
> Prepare yourselves to live withoutthe annual nancial statements cycle.You’ll need to move from 6 monthly orquarterly communications to constanttwo way dialogue.> Heard of a ‘cloud’ yet? Well you’ll probablybe needing an investor community cloudsometime soon.> And in the old world of annual reporting, wethink there’ll still be a need for some printeddocuments. But we would put a small bet onthe document being called a ‘stakeholderreport’ – the main report will be held onlineand will be linked to a digital print-on-demandfacility at the printers – so no wasted copies.
Welcome to the May/June edition of Directions Supplement– a look into the future.
Have you been rather bored by the endlessdebates around online corporate reporting? The pros and cons ofhtml over PDF and the technicalities? Now it’s not that the currentdebate around online reporting isn’t important – it absolutely is. It’s just that as far as we can see it’s actually not as difcult and radicalas some people make out. Surely it’s just about delivery channelsand getting better information to the right people more effectively?No rocket science in that as far as we’re aware. And we think a lotof the debate is missing the point.
Our predictions
When we consider the future of the web andspecically stakeholder communications, it’ssobering to take a look at the reality of webusers and their browsing habits. The latestreport into this area by usability guru JacobNielson shows people are becoming muchless patient when they go online.No longer willing to investigate websites,many users simply want to reach a sitequickly, complete a task and leave. Most willignore or are even suspicious of efforts tohold their attention. The single best piece ofadvice we can give is to engage and invest inthe social media revolution. Your story will betold in the forums and chatrooms, the blogsand the Podcasts (whether you like it or not!).So make sure you take part.
For us, the point is the longer term picture where companies’ communications with stakeholdersbecome truly dialogue based and start to use the real potential of the internet rather than justusing it as a place to put the same old information in a slightly different format. If you’ve only just woken up to the concept of Web 2.0 then I’m afraid you need to move faster – the interestingstuff will happen with Web 3.0 – and this is what the cutting edge companies are spotting.So rather than keeping the debate about online reporting turning in ever decreasing circles we’veused this edition of Directions to star gaze a little. We’ve asked Aviva, E.ON and Tomorrow’sCompany to help us look into a galaxy not too far away, a few years from now, and to tell us whatthey see as the most likely developments in online corporate stakeholder communication. Lightsabres at the ready – will the world of communications be turned upside down? Will the forcesof conservatism prevail or will the valiant champions of innovation and imagination win through?Or will Web 3.0 turn out to be a Jedi mind trick?
Nigel Salter
 Directorsalterbaxter
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