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| Version 1 | Version 2 |
|---|---|
| BP ex-boss Lord Browne: Firms must 'connect' with society | BP ex-boss Lord Browne: Firms must 'connect' with society |
| (35 minutes later) | |
| The former head of BP has said that the relationship between business and society is becoming "dangerous". | The former head of BP has said that the relationship between business and society is becoming "dangerous". |
| Lord Browne told the BBC business was losing the trust of ordinary people. | |
| His latest book sets out how businesses fail to engage with environmental, social and political issues, a failure he thinks could destroy them. | |
| And he said labelling these issues as "corporate social responsibility", or CSR, had allowed companies to push them into a "side-pocket". | |
| Describing the failure of Enron in 2001 he writes that its CSR "masked a deeply rotten core". | |
| "Mistreating any constituent of society eventually leads to collapse," he added. | "Mistreating any constituent of society eventually leads to collapse," he added. |
| In his book Connect, to be published on Thursday, he describes the rift between society and big business. | In his book Connect, to be published on Thursday, he describes the rift between society and big business. |
| "Future global development will be constrained... if business is hamstrung by the hate it generates so self-destructively." | "Future global development will be constrained... if business is hamstrung by the hate it generates so self-destructively." |
| Talking to BBC business editor Kamal Ahmed, he said: "It is more and more dangerous." | Talking to BBC business editor Kamal Ahmed, he said: "It is more and more dangerous." |
| Lord Browne added: "A lot of my colleagues in business say: 'Well, it's cycles, they come and they go - bankers are hated and then they are loved, people in social media are loved today, they will be hated tomorrow, life goes on.' | Lord Browne added: "A lot of my colleagues in business say: 'Well, it's cycles, they come and they go - bankers are hated and then they are loved, people in social media are loved today, they will be hated tomorrow, life goes on.' |
| Reservoir of trust | Reservoir of trust |
| "But life goes on at a far faster rate than it used to, companies can disappear when their reservoir of trust is depleted, companies can be wounded many, many times over. | "But life goes on at a far faster rate than it used to, companies can disappear when their reservoir of trust is depleted, companies can be wounded many, many times over. |
| "Getting it right is more important now, because the information moves very quickly around the world," he added. | "Getting it right is more important now, because the information moves very quickly around the world," he added. |
| "One of the props that people have relied upon is corporate social responsibility, and that's allowed a lot of companies to detach the activity of communicating and being involved with stakeholders almost into a side-pocket," | "One of the props that people have relied upon is corporate social responsibility, and that's allowed a lot of companies to detach the activity of communicating and being involved with stakeholders almost into a side-pocket," |
| In his book, he interviews leading figures such as Facebook's Sheryl Sandberg, Goldman Sachs' Lloyd Blankfein, former UK Prime Minister Tony Blair and Tim Berners-Lee, inventor of the World Wide Web. | In his book, he interviews leading figures such as Facebook's Sheryl Sandberg, Goldman Sachs' Lloyd Blankfein, former UK Prime Minister Tony Blair and Tim Berners-Lee, inventor of the World Wide Web. |
| But he is optimistic that the problems can be solved. He writes: "There has never been a better time to challenge the cycles of anti-business sentiment that have spanned the length of history." | But he is optimistic that the problems can be solved. He writes: "There has never been a better time to challenge the cycles of anti-business sentiment that have spanned the length of history." |
| Four tenets | Four tenets |
| He outlines four tenets of what he calls "connected leadership". | He outlines four tenets of what he calls "connected leadership". |
| He believes that businesses have to analyse their stakeholders as precisely as their customers, clearly define their contribution to society, apply world-class management to "soft" social topics and have a commitment to "radical engagement". | He believes that businesses have to analyse their stakeholders as precisely as their customers, clearly define their contribution to society, apply world-class management to "soft" social topics and have a commitment to "radical engagement". |
| He writes that the last is perhaps the most important: "It means meeting important stakeholders regularly and making friends before they are needed. | He writes that the last is perhaps the most important: "It means meeting important stakeholders regularly and making friends before they are needed. |
| And it means communicating to outsiders in clear language without resorting to propaganda." | And it means communicating to outsiders in clear language without resorting to propaganda." |