Creating and preserving long-term value through global stewardship

This article first appeared in the Fall 2022 edition of NACD’s Directorship Magazine.

In this article for NACD, WTW CEO Carl Hess outlines the concept of stewardship as a model for businesses to create and preserve value over time. Stewardship enables boards of directors and executives to meet the demands of investors and other stakeholders over numerous economic cycles and volatility.

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Stewardship incorporates five elements:

• Performance − driving strong, consistent and sustainable financial performance and superior individual performance through learning, innovation, transformation, organization and supporting programs
• Protection − reducing individual and organization uncertainty and loss by identifying, assessing, mitigating and managing one-time and ongoing risks while increasing resilience
• Planet − protecting and sustaining the Earth, through climate management, biodiversity, resource protection and environmental safeguarding
• People − uplifting and sustaining individual and shared humanity through dignity, wellbeing, compassion, mutual awareness, inclusion and fairness
• Purpose − defining and connecting individual and organization purpose, the reason an organization exists and what it stands for, and activating it for every person

Global stewardship provides a model for business leaders to create value over the short and long term by establishing a sustainable framework for business strategy, operations and execution.

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