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REACHING A NEW CLASS OF STAKEHOLDERS
Companies are latching on to the power of education. Using a business studies resource targeted at 5,600 educational institutions, firms are channelling key messages into 600,000 students – young people who will soon be their employees, customers and stakeholders. Neil Gibbons reports:
What do people think of when they think of Shell?
A hard-nosed operator obsessed with the bottom line? Or a responsible corporate citizen that considers all stakeholders’ needs in its decision-making?
Expect more and more young people to buy into the latter – because the oil giant has chosen an innovative and far-reaching way to communicate its responsible side to the stakeholders of tomorrow. Earlier this year, Shell commissioned a case study that will be digested by hundreds of thousands of students in the UK.
It now appears as part of The Times 100, a resource for teachers and students. The Times 100 helps teachers bring business studies to life, providing a framework for lessons. For the student, the site is a valuable repository of business case studies, quizzes, careers information and revision theory.
“The reason young people need this product is because business studies text books don’t reflect what’s going on in business,” says Simon Benn, chief executive of The Times 100. “They are out of date and were written without input from businesses. They’re all about dry theory rather than stuff that actually engages.”
And, of course, for the businesses that are featured, The Times 100 shapes reputation and spreads key messages to young people.
Take Shell. Its case study is a lesson in ‘Balancing stakeholder needs’. The piece outlines the challenges that Shell faces in reconciling the needs of shareholders, employees, customers and and uppliers, and concludes: “It has reduced conflicts between its activities and its stakeholders. It does this through clear strategies and good corporate values. It makes decisions only after looking at the effects on economic, social and environmental areas.”
Having reached an audience of 159,000 in its first three months, it’s a compelling message that has the potential to influence the people who will be Shell’s employees, customers, shareholders and regulators in years to come. That’s why 60% of Times 100 clients are corporate communicators, eager to alter perceptions.
The Times 100 is populated not just by global multinationals keen to help youngsters and enhance their reputations. There are around 40 companies of varying sizes who, says Benn, “commission us to deliver specific messages.” These include Ikea, Anglo-American, Tesco, ASOS and London 2012.
“Through The Times 100, these companies are managing to deliver green and stakeholder messages through the curriculum,” says Benn. “If a client’s message is ‘We’re responsible and demonstrate good CSR’, that can be delivered through a case study for business studies. It’s a way for them to communicate ho their stakeholders are, what are their needs and how the company meets those needs.”
Now in its 14th year, the content is available online at www.thetimes100.co.uk which welcomes over 3 million visitors each year. It is also collated into a printed annual publication. That book is then sent to every secondary school, college and university in the UK – a total of 5,600 educational institutions, with a potential audience of 600,000.