I designed a new course for the New York University, School of Professional Studies - Corporate Reporting 2.0: Integrated Reporting
Why should you care? Maybe a better question is: as the world is seeking ways to escape "the tyranny of quarterly capitalism" can you afford knowing nothing about a new language of reporting?
It is the time that we move beyond crying over the spilled milk of financial crisis shattering the trust in business or even the latest shameful CSR failure of Volkswagen.
But what is the direction the business of today and tomorrow should take?
Some thought leaders, academics, and even spiritual leaders suggest that – to respond to the needs of a new generation of investors who have drastically different priorities and expectations – we should move towards “purpose driven organizations” or “purpose economy”.
If, indeed, we are moving towards the "purpose economy", what type of language should we use for reporting? What are the reports, potential investors need to make up their minds about investing in a business? What are the reports that keep current investors (shareholders) happy that they know what is going on in a business and it is to their liking?
As drivers of market value of companies shifted, the frameworks for corporate reporting lag behind. Companies continue to communicate with their stakeholders focusing mostly on the tangible and financial aspects of the business performance.
Up to 80% of the value of a business is accounted for by intangible factors such as its intellectual property, productivity rates, brand and reputation. Yet the corporate reporting has, until now, been largely dominated by financial disclosures. (See Paul Druckman address to the United National Economic and Social Council, March 31, 2016). Evidence shows that no company today can stick to doing business the old and tried way. I tend to agree with Annette Simmons that whoever tells the best story wins. And in this era of exponential growth of available information, meaningful storytelling may well be an essential ingredient that will tilt the scales.
As future business leaders, students (professionals, graduates and post-grads) will learn how this strategic business framework can transform today’s culture of quarterly earnings hysteria to long-term value creation. We will examine how to make a business sense of integrated thinking. Ultimately, the course will give you tools to become a first class integrated thinking practitioner or thought leader.
When and Where?
On Mondays from 6pm to 8.30pm for 8 weeks from October to December 2016 at the NYU Midtown Center.
To register for the class, visit the new NYU-SPS Professional Pathways website (https://www.sps.nyu.edu/professional-pathways.html).
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