No Match Found
PwC stands alongside its clients and other stakeholders to help them with the issues they face. To achieve this, we need to understand what is important to our stakeholders, what they expect from PwC, and what we need to do to meet their expectations.
This requires ongoing dialogue with our employees, our clients, and representatives of society as a whole, such as regulators, government, NGOs, investors, politicians, and academics. We utilise their input to evaluate and refine our strategy.
The themes that our stakeholders see as most relevant (material) for them and for PwC’s long-term value creation are reflected in our materiality matrix (see figure). Integrity, quality, and developing and sharing knowledge then emerge as important themes.
In addition to these main topics, stakeholders shared their specific expectations for this year. They say they want us to help them define what sustainable progress means, specifically for their business operations, and to inspire them to accelerate their (digital) transformation.
As regards solving their problems, we have to make them confident of always being able to count on high-quality service provision. They also expect us to involve them in finding integrated solutions, for example through co-creation.
Furthermore, our stakeholders expect us to share knowledge with them about trends and important developments, and to play a connecting role between the public and private sectors. They also believe we should participate more in public debate. We will therefore focus on these points in the services we provide, in our partnerships, and in our thought leadership.
The world has changed at tremendous speed in the past year. The COVID-19 pandemic forced many of us to work from home and put us at a greater physical distance from one another. At the same time, though, it also connected us more. In many places, creative solutions emerged to ensure effective cooperation.
The pandemic also accelerated global developments such as digitalisation and the energy transition. The complex issues of our time demand an integrated approach. That’s only possible if we communicate openly with each other and establish sustainable relationships. The COVID-19 pandemic has made that even clearer.
Continuing the dialogue with our stakeholders gives us a better understanding of what matters to our stakeholders, what they expect from PwC and what we need to do to meet those expectations. During discussions in the past year, they clearly indicated that we must engage with them far more, that we must involve them more in our own transformation towards a purpose-led and values-driven organisation, and that we must make clearer how we fulfil our role within society. This compels us to constantly ask ourselves how we can maintain our right to exist in the longer term.
Global trends and society’s changing expectations are also accelerating our transformation that we initiated a few years ago. More than we sometimes realise, our success is not only determined by ‘what’ we do, but also more over by ‘how’ we do it. By connecting more with the client we have a greater view on their (actual) problem. Together we then can find better, integrated solutions.
The acceleration in global changes caused by COVID-19 has led to a recalibration of our strategic vision. To meet the challenges of our time, be successful and to meet the expectations of their stakeholders, companies and organisations need to build trust and deliver sustainable outcomes. We want to contribute by developing new and sustainable solutions.
We develop these solutions by deploying a wide variety of people in unexpected combinations, by offering quality, our knowledge, creativity, and our ingenuity to look at things from multiple perspectives and by using technology. This way we build trust and create sustainable progress towards a new tomorrow. We call this sum The New Equation.
Now that vaccination programmes seem to have brought the COVID-19 pandemic under control and we are returning to “normal”, we are venturing to look further ahead, and we are asking ourselves what the post-COVID-19 world will look like. That world will not be entirely the same as before. Doing business, working, and living in an online environment have really taken off. Entire sectors and business models have been rendered obsolete or radically altered by the developments. There has been a change in people’s views on what makes businesses sustainably successful, and there is increased public support for strong government.