Our goal is to be the world’s most successful provider of communications services to multinational and local companies, not just the largest.
We will achieve this through a focus on our three key strategic priorities:
1Short term, to continue to emerge from the 2008 financial crisis successfully. Our 2010 results are an encouraging sign that we will or even have.
2Medium term, to build upon the successful base we have established while integrating our most recent acquisitions effectively.
3Long term, increase the combined geographic share of revenues from the faster-growing markets from around 27% to 35-40%; increase the share of revenues of new media from 29% to 35-40%; and maintain the share of more measurable marketing services – such as Consumer Insight and direct, digital and interactive – at 50% of revenues.
Our CR activity enables us to take advantage of new opportunities and to manage social and environmental risks connected to our strategy. It supports our business goals directly in a number of areas, including:
- Generating new business opportunities. Major brands are increasingly focused on managing their reputation and, in particular, positioning themselves as responsible members of society and stewards of the environment. This trend, which is evident in both Western and fast-growing economies, is creating opportunities for our companies, from research to advice on communications and marketing. Our companies have responded, developing skills and services to meet the needs of clients aiming to establish credentials for environmental, social and ethical excellence. WPP’s status as the early mover in CR in our sector helps our companies enter green and ethical markets with confidence and credibility.
- Attracting and retaining the best people. There is fierce competition for talent in our industry. Creating a diverse company culture and adopting leading employment practices can help us to attract and retain the best people. A diverse workforce also enhances our understanding of consumers in all markets, while our investment in training helps us to develop the skills needed to grow our business in key areas such as digital marketing. The future generations that will eventually become our talent pool, view CR issues as central to business. Questions relating to CR are frequently raised – demonstrating that our commitment to social and environmental issues supports recruitment and retention. Our pro bono work and support for charities and community organisations reinforces our reputation for making a positive contribution to society.
- Reputation risk management. We manage a number of potential risks to minimise the possibility of damage to our reputation. We ensure that our work complies fully with regulations and marketing standards. We evaluate carefully the risk associated with new commissions. Meeting best practice standards for privacy and data protection enable us to reduce risks associated with the increased volumes of data handled by our growing insight and digital marketing businesses. As we expand our business in new regions, or acquire new businesses, we apply the same high ethical standards to our work and our interactions with clients.
- Meeting investor and client expectations. WPP share owners and clients are showing interest in our CR practices and we aim to respond constructively to their requests for information.
- Improving efficiency. Our climate change strategy is reducing costs associated with business travel and energy use. Investment in videoconference facilities enables an increasing number of meetings to be held without the cost and carbon footprint of flights.