Corporate social responsibility/sustainability (CSR/S) reporting is not fit for purpose. It needs to change to meet the needs of Millennial business leaders, who place a stronger emphasis on sustainability, authenticity, and stakeholder impact, when compared to previous generations. CSR/S reporting has not been previously viewed through a generational lens, and the intersectionality of CSR/S reporting with Millennials as business leaders is a largely unexplored area. This thesis aims to close this gap through an analysis of Millennial information needs, corporate disclosure practice and expert opinion on how CSR/S reporting can develop to meet these emerging challenges. A three-stage methodology was followed. In Stage 1, to analyse sustainability attitudes and reporting needs, 67 upcoming Millennial leaders were surveyed. In Stage 2, to assess the current reporting landscape, a content analysis of the sustainability reports of 25 FTSE 100, 25 FTSE 250 and 10 private companies was undertaken. Stage 3, informed by Stages 1 and 2, involved 22 CSR/S reporting experts from industry, consultancies, academia and policymaking, participating in a four-round ‘Delphi Plus’ evaluation. Individual interviews and online response rounds were used to generate a facilitated consensus, through the development of a 4000-word vision of how CSR/S reporting should evolve for Millennial business leaders. The ‘Delphi Plus’ technique provides a strong methodological contribution, evidenced by an enhanced understanding of participant behaviour, stronger consensus, and significantly reduced expert attrition. Experts, through the Delphi, identified that: (1) The technological abilities and business culture of Millennials are distinct from previous generations, (2) Cultural change is a prerequisite for technological change, (3) Combined with 1 and 2, holistic thinking is required to challenge the dominance of financial over CSR/S reporting, (4) Porous CSR/S reporting and communication boundaries enable dissemination of CSR/S performance to a wider audience via social media, (5) Business purpose is a driving force for many Millennial leaders, thus the inclusion of purpose metrics in new reporting standards and frameworks is essential. A strong practical contribution is made through a set of recommendations created for reporting bodies and practitioners to inform future reporting practice. The study contributes to knowledge through investigating the intersectionality of Millennial business leaders’ information needs and CSR/S reporting. The study questions whether digitally native Millennials can also be considered as sustainability natives. Failure to develop CSR/S reporting to suit Millennials’ technological and cultural requirements will frustrate business leaders and seriously constrain their ability to tackle pressing social and environmental challenges.
Permanent link to this resource: https://doi.org/10.24384/qyaf-s644
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Workman, Stephen William
Supervisors: Miles, Samantha
Oxford Brookes Business School
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