Marketing communication: principles and practice

particular affinity with customers, the people with the other interests can
make decisions and choices which may determine the fate of the business
enterprise.
The initial 
Tomorrow’s Company
study (RSA, 1995) makes clear the 
extent to which successful companies depend on building relationships 
with important groups, to the extent that they are included, drawn into
collaborative, ‘win–win’ (integrative negotiation) relationships with successful
companies. The 
Tomorrow’s Company
study, which first reported in 1995,
has led to the creation, by the Royal Society of Arts, of the Centre for
Tomorrow’s Company (see Goyder, 1998, for development of the ‘agenda
for action’ and ‘framework for success’ which have been derived from the
study findings).
The Centre is pushing debate further, setting out its vision for the company
of the future, which moves beyond an emphasis on the creation of shareholder
value. This goal remains of central importance, but the Tomorrow’s
Company approach creates value for other groups involved with the company.
The successful company of the future aims to achieve more than mere
acceptance in its key relationships, and its directors have obligations to give
due weight to all stakeholders. Only by doing this will directors maximize
the sustainable growth in value of their companies for the benefit of stake-
holders, both present and future.
The interim study report was the result of an enquiry lasting more than
two years and involving some of the most prominent UK companies. It aimed
to stimulate competitiveness, offering a broad view of the possible sources of
sustainable business success. The study concluded that an inclusive approach
to business leadership, to investment needs, to people, and to society is needed
for world-class business success. The approach requires companies to:
• clearly define purpose and values and communicate these consistently to
all those people and groups who are important to success
• develop their own success models, drawing on stated purposes and values
• value reciprocal relationships, working actively to build these
• expect relationships to contribute to maintenance of a strong ‘licence to
operate’