Reuters Institute's Future of Media Trends 2025: Strategic Insights for Businesses, Governments and Investors

The Reuters Institute for the Study of Journalism released its latest report, ‘Journalism, media, and technology trends and predictions for 2025,’ this week.

The findings share insight into how the media continues to evolve and its impact on everyone who relies on it to engage, influence, and communicate. Reaching audiences whose media consumption habits have changed over the last ten years is becoming increasingly complex. New technology is disrupting not just the platforms but also the habits and levels of trust of audiences.

Reuters Institute for the Study of Journalism: Journalism, media, and technology trends and predictions 2025

Generative AI, social media influencers, and algorithm-driven platforms are increasingly shaping public discourse today and challenging traditional fact-based journalism.

Leaders in business and government worldwide, as well as start-up founders who want to grow their digital products, need to understand the market today and the media consumption habits of the audiences they want to engage with and have conversations with.

The changing landscape requires a strategic rethink of building and managing reputations effectively.

Having read the report, I outline the key trends reshaping media globally, highlight their impact on trust and stakeholder engagement, and provide actionable recommendations to help organisations maintain relevance, credibility, and influence in this evolving environment.

The Changing Media Ecosystem: Challenges and Opportunities for Businesses and Governments

The 2025 Journalism and Technology Trends Report by the Reuters Institute reveals an increasingly fragmented and volatile media landscape shaped by the rapid evolution of generative AI, the dominance of platform algorithms, and shifting audience behaviours. These changes create significant challenges but also present opportunities for businesses, governments, and their advisors in strategy, communications, and stakeholder engagement.

Sadly, journalism faces growing threats from political polarisation, economic instability, and a decline in public trust. Only 41% of media leaders surveyed expressed optimism about journalism’s future, a sharp decline from prior years. At the same time, reliance on traditional platforms like Facebook and X (formerly Twitter) continues to plummet while new AI-powered platforms and influencers dominate audience attention.

For governments and businesses seeking to build trust, communicate effectively, and promote policies, these shifts necessitate new strategies to engage audiences across diverse and evolving channels whose trust in so-called traditional storytellers is at an all-time low.

Global Dynamics: The Role of Media in a Polarised World

The report highlights the global dimension of these challenges. In countries like Brazil and Romania, social media influencers and populist politicians bypass traditional media to engage directly with citizens. For example, Romanian presidential candidate Calin Georgescu’s TikTok-driven campaign resonated with younger voters, bypassing conventional media outlets. This reflects a broader trend where audiences—especially under-30s—consume news through non-traditional channels, often from influencers rather than institutional journalists.

For governments, this raises the stakes for transparent communication and proactive engagement. The undermining of traditional journalism, coupled with politically charged platforms, poses risks to the dissemination of accurate information. Businesses, particularly those operating in highly regulated or international markets, must navigate an environment where misinformation can escalate reputational risks and destabilise stakeholder trust.

According to last year’s Edelman’s Trust Report, trust in governments, businesses, and media has significantly declined over the past decade. In the UK, only 27% of respondents trusted the government, marking a historic low, while trust in businesses stood at just 45%, placing them in the “distrust” category. Media fares even worse, with only 31% expressing confidence, ranking the UK last among 28 surveyed countries. These trends highlight growing scepticism towards traditional institutions, driven by transparency, accountability, and misinformation concerns.

The Rise of AI and the New Content Ecosystem

Generative AI is reshaping how audiences access information. AI tools like ChatGPT and Perplexity integrate real-time news aggregation, providing concise summaries with minimal engagement with original publishers. While this may increase convenience for consumers, it challenges traditional media's visibility and monetisation models.

According to the report, 74% of media executives worry about declining referral traffic from search engines. This concern is heightened by AI’s potential to replace click-through links with integrated answers.

For example, in April 2024, the Financial Times entered into a strategic partnership and licensing agreement with OpenAI. This collaboration allows OpenAI to incorporate FT’s attributed content into its AI models, enhancing ChatGPT’s responses with select summaries, quotes, and links to FT journalism. The partnership also focuses on developing new AI products and features tailored for FT readers.

A month later, in May 2024, News Corp, the parent company of The Wall Street Journal and The New York Post, signed a deal with OpenAI to integrate its news content into AI platforms. Vox Media and The Atlantic also entered into licensing agreements with OpenAI, permitting the use of their content to train AI models and enhance the quality of AI-generated responses. In September, Condé Nast, owner of publications such as The New Yorker and Vogue, signed a multi-year agreement with OpenAI. 

For businesses and international governments, who historically rely on traditional news outlets through which to communicate, this shift requires a reassessment of how they distribute their messages.

Strategies must focus on embedding key content directly into AI-supported platforms while ensuring accuracy and narrative control. While, companies are also adopting AI tools, the focus must also be on the content that each company has in terms of comms and storytelling that allows it to also compete in terms of output from questions that people, professionals and policy people use whether they are using Microsoft’s Copilot, Google’s Gemini, OpenAI’s ChatGPT or any other. Start-ups will need to compete here in how they present and disrupt the presence that enterprise companies will gain because of the data that they have to train respective Large Language Models.

Collaborative approaches, such as licensing agreements with AI platforms, may offer opportunities for trusted organisations to amplify their influence in the evolving ecosystem.

The Influence Economy: Shifting Public Trust

Trust is becoming increasingly decentralised, with influencers and creators often eclipsing traditional media in audience loyalty.

In the US, over 37% of under-30s now rely on influencers for political news, a phenomenon mirrored globally. This shift is not without risks; while some influencers bring fresh perspectives, others lack journalistic rigour, potentially propagating misinformation. For example, findings show that 62% of surveyed influencers admit they do not verify the content's accuracy.

Engaging in this ‘creator economy’ demands a delicate balance for businesses and governments. Partnering with credible influencers who align with organisational values can amplify messages while mitigating reputational risks.

Sharing without varying information comes with its risks for content creators and influencers. Many might make money now, but trust can quickly disappear.

For example, government agencies promoting public health campaigns or businesses launching sustainability initiatives can benefit from the authenticity influencers offer, provided they are carefully vetted.

Strategic Recommendations for Building Trust and Reputation in 2025

1. Adopt a Multi-Platform, Audience-Centric Approach

The fragmentation of media means audiences are spread across platforms like YouTube, TikTok, and WhatsApp.

Businesses and governments must meet their stakeholders where they are by diversifying content formats, including short-form videos, podcasts, and multilingual AI-generated summaries.

Scandinavian publishers are already integrating podcasts into subscription packages, which has created enhanced audience loyalty. Governments could replicate such models, delivering policy briefings or public service announcements via accessible and engaging formats.

Invest in Trustworthy Narratives Amid Misinformation

Political and economic polarisation demands proactive reputation management.

Businesses and governments must double down on transparency, using independent verification and partnerships with trusted outlets to counter misinformation.

In Australia, the introduction of news bargaining codes ensured platform accountability and provided financial support to struggling publishers. Governments elsewhere can adopt similar measures to sustain a healthy media ecosystem.

Leverage AI Responsibly

AI tools can enhance engagement but must be used carefully to avoid diluting organisational credibility.

Businesses should explore partnerships with AI platforms offering visibility for credible content while maintaining editorial control.

Governments, especially those in public health or education, can leverage AI chatbots and summarisation tools to enhance citizen engagement.

The UK Government’s Department for Business and Trade Digital, Data and Technology (DDaT), whom I supported for three years between 2016 and 2019, already uses AI for its service and product design and delivery.

Navigate the Creator Economy with Precision

Influencers are an essential bridge to younger audiences but require careful selection.

Businesses in highly regulated industries, like finance or pharmaceuticals, should prioritise collaborations with influencers known for their subject-matter expertise and adherence to ethical standards.

These influencers know that their audiences and community rely on them because of their knowledge, expertise and trust. Their business relies on their reputation.

Strengthen Resilience Against Platform Dependencies

Platforms remain volatile, with sentiment towards Facebook and X deteriorating sharply among publishers, especially since Elon Musk took over X (Twitter) and Mark Zuckerberg announced the ending of fact-checking. While these are critical issues, the number of bots ‘cooking’ engagement metrics must be a concern for those with an organic presence or who spend advertising money on these platforms.

Instead of over-relying on third-party platforms, organisations must build direct relationships with their audiences. Investment in owned channels, such as bespoke apps or subscription-based newsletters, will future-proof engagement.

Rather than go it alone, businesses should look at platforms and channels, and aggregators that audiences use to avoid creating additional fatigue amongst your stakeholders.

Strategic Communications and Stakeholder Engagement: Key Takeaways

The findings highlight the importance of integrated, flexible approaches for strategy, communications, and stakeholder engagement advisers. Advisers must guide clients to:

• Engage Stakeholders Beyond Traditional Media: Emphasise influencer partnerships, AI platforms, and community-driven engagement to amplify messages.

• Protect Reputation Through Scenario Planning: Develop robust crisis management frameworks to address risks from misinformation and AI-driven content disruption.

• Advocate for Fair Policies: Support initiatives like collective licensing deals to ensure a level playing field for small publishers, fostering a diverse and trustworthy media ecosystem.

• Localise Strategies for International Contexts: Tailor communications to regional media dynamics. For example, direct social media campaigns in regions like Latin America may be more impactful than traditional PR strategies.

Preparing for 2025 and Beyond

The evolving media landscape presents both challenges and opportunities for organisations seeking to communicate effectively and protect their reputations.

By embracing technological innovation, prioritising authenticity, and fostering resilience against misinformation, businesses and governments can position themselves as trusted voices in an increasingly fragmented world.

The imperative for advisers is clear: stay ahead of trends, adapt strategies for a global context, and help clients navigate complexity confidently. As media evolves, those who proactively engage with its changes will build trust, protect reputation, and influence public discourse.

It is our job to rebuild the trust between our audiences, stakeholders and ourselves. And that will require sharing some hard truths internally. The media and communications landscape has changed and leaders need to be aware of that if they are to deliver growth.

Unlocking Success in the Digital Age: Why People Skills Are a Strategic Imperative for Leaders in Technology and Government

The World Economic Forum released its ‘The Future of Jobs Report 2025’ this week. The report examines how macro trends impact jobs and skills, and the workforce transformation strategies employers must adopt from 2025 to 2030. One thing is certain: this issue cannot be ignored. Technology, geopolitics, and geo-economic fragmentation create economic uncertainty that must be resolved.

With strategic thinking by businesses and governments, societies can benefit from the technology coming to market.

Senior business leaders and government officials must create an environment in which technology benefits everyone and in which people are supported in developing the necessary skills for the future.

The World Economic Forum’s Future of Jobs Report 2025 sheds light on a significant shift: while technical skills remain foundational, the growing importance of interpersonal abilities — such as communication, leadership, and emotional intelligence — cannot be overstated.

This evolution signals that C-suite executives, governments, and policymakers must invest in human-centric skills to drive innovation and resilience.

People Skills at the Core of Future Competitiveness and Growth

As technology reshapes industries and roles, adaptability and collaboration have emerged as key differentiators in the global talent landscape.

According to the Future of Jobs Report 2025, the skills most in demand by 2030 include resilience, flexibility, and social influence — underscoring the critical role of interpersonal capabilities in driving organisational success.

As businesses navigate technological disruptions and geopolitical complexities, 63% of employers identify skill gaps — especially in interpersonal and management domains — as the primary barrier to transformation. 85% of companies plan to invest in workforce upskilling, focusing on aligning human and machine collaboration.

Strategic communication professionals, capable of bridging technical innovation with stakeholder trust, will be essential to fostering resilience and adaptability in a competitive landscape.

The report highlights the growing demand for leadership and social influence skills, including stakeholder engagement. Over 70% of companies identify these as pivotal to success.

As artificial intelligence (AI) adoption gathers pace and economic uncertainty accelerates, these traits are indispensable for navigating the disruption we live through.

These insights validate that investing in people with these capabilities can drive sustainable growth, ensure regulatory alignment, and secure investor confidence, making them indispensable to businesses aiming to thrive amidst change.

Communication and Stakeholder Engagement: Pillars of Organisational Resilience

In industries disrupted by rapid innovation, from AI to renewable energy, communicating effectively and managing stakeholder relationships is a non-negotiable competency. Reputation and trust matter.

Senior leaders are recognising that building trust, fostering transparency, and articulating complex strategies are even more critical for navigating regulatory landscapes and driving public confidence. This is especially true in international markets, where cultural differences can block access and potential growth.

Practical Applications:

• Cybersecurity and Trust: Roles like Security Management Specialists and Information Security Analysts exemplify the growing demand for professionals who combine technical knowledge with the ability to communicate security strategies and build stakeholder trust. Cybersecurity breaches are predominantly linked to human factors rather than technical flaws. A study by Stanford University and a top cybersecurity organisation found that approximately 88% of all data breaches are caused by an employee mistake.

• Sustainability and Community Engagement: Environmental engineers and renewable energy specialists highlight the importance of technical expertise and the capacity to engage policymakers, communities, and businesses in sustainability initiatives.

Strategic Recommendations for Business Leaders

Integrating people skills into strategic planning is no longer optional for senior executives and investors—it’s essential for driving growth, innovation, and resilience. Investors must build reputations for businesses they want to invest in and help grow. Perception influences start-ups' growth journeys.

Here’s how leaders can act:

1. Reimagine Workforce Development:

• Invest in continuous learning programs that prioritise both technical and interpersonal skills.

• Collaborate with universities and training organisations to co-create curricula that address the dual demands of technological expertise and emotional intelligence.

2. Cultivate Collaborative Cultures:

• Break down the internal siloes, ensuring that leadership development becomes a cornerstone of organisational culture, emphasising empathy, adaptability, and inclusion.

• Foster interdisciplinary teams that merge STEM expertise with policy, communications, and strategy to create well-rounded solutions.

3. Champion Stakeholder-Centric Strategies:

• Implement communication frameworks that enhance stakeholder engagement and manage public perceptions effectively.

• Equip teams with tools to navigate complex regulatory environments and build relationships with communities and government entities.

4. Ensure your messaging and positioning create positive perceptions amongst your stakeholders:

• Map out your stakeholders and ensure you know what they think of you, your work, and your plans.

• Ensure that your messaging and communications relate with and harmonise with your stakeholders' views on risk and growth.

Policy Actions for Governments: Empowering People-Centric Growth

Governments are responsible for creating the long-term ecosystem and environments where businesses and individuals thrive in the face of change. Policymakers must better engage with companies, innovators and education to develop policies that drive impactful initiatives. This can be done by thinking across teams and:

• Funding Reskilling Programs: Subsidies should be provided for workforce development initiatives focusing on interpersonal skills, particularly in regions transitioning to green and digital economies.

• Fostering Diversity in STEM: Promote inclusive hiring and training practices to bring varied perspectives into technology roles, enhancing creativity and alignment with stakeholder needs. Remember, digital and technology solutions must be built around the user, whoever they might be.

• Encouraging Innovation through Regulatory Sandboxes: Create controlled environments for businesses to test new technologies while prioritising ethical standards that build public trust, which creates a buy-in from users.

Building Bridges: People Skills as the Key to Sustainable Growth

The Future of Jobs Report 2025 strongly advocates integrating people skills into the strategic agendas of senior business and government leaders.

In a world of complexity and rapid change, technical expertise alone is insufficient. Bringing change and innovation to market needs people.

Tomorrow's most successful leaders will be distinguished by their ability to navigate challenges through empathy, collaboration, and effective communication.

Senior executives and policymakers worldwide can position their organisations as pioneers of progress and trusted partners in shaping a sustainable, inclusive future by investing in human-centric capabilities alongside technological innovation.

Strategy and strategic communications is what builds trust and confidence. The time to act is now.

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Insight and opinion on the impact and value of strategy, strategic communication and stakeholder engagement for businesses, investors and governments.

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By ending content fact-checking, Zuckerberg has increased the reputation risk for companies advertising on Facebook and Instagram

Mark Zuckerberg announced yesterday that Meta would end the fact-checking programme and replace it with a Community Notes system, similar to what Elon Musk has in place on X. Zuckerberg also said that the company’s moderation policies around political topics would change, with one policy removed that reduced the amount of political content in user feeds.

These moves were announced in anticipation of the new Donald J. Trump administration's taking office in the US later this month.

However, what was striking was the statement Zuckerberg made when he said, "We're going to work with President Trump to push back on governments around the world that are going after American companies and pushing to censor more."

His statement confirmed that anything that gets in the way of further monetizing the user-based platform he has built, regardless of any safeguarding issues, will be removed. From now on, in the US at least, human fact-checkers and moderators will be removed, leading to what is likely to be an increase in misinformation and hateful content on his platforms.

Yet, this decision highlights the issue at hand: how the internet has slowly been splitting over the last 15 to 20 years based on regional differences in culture and values.

Former Google CEO and Alphabet chairman Eric Schmidt said in 2018 that in the next 10 to 15 years, the internet would most likely be split in two: one led by China and one led by the United States. The third internet will be designed around EU regulation that supports data privacy.

An opinion piece by the New York Times Editorial Board highlighted how ‘all three spheres — Europe, America and China — are generating sets of rules, regulations and norms that are beginning to rub up against one another. What’s more, the physical location of data has increasingly become separated by region, with data confined to data centres inside the borders of countries with data localization laws.’

But, as we move into an assertive ‘America First’ world, Zuckerberg, like Musk and other tech leaders hoping to push their view of what the internet should look like to other locations around the world, regardless of the damage that lies and that misinformation has had on people.

Exporting Misinformation

We cannot ignore the damage that misinformation has to people and society. Misinformation shared on social media platforms such as Facebook, Instagram, and X has had far-reaching consequences, eroding trust in science, deepening social divides, and inciting hostility toward vulnerable communities.

During the COVID-19 pandemic, platforms became a breeding ground for false claims about vaccines and treatments, which fueled vaccine hesitancy and jeopardized public health. Research from the Center for Countering Digital Hate revealed that nearly 65% of anti-vaccine content on Facebook and Twitter originated from just 12 accounts, dubbed the “Disinformation Dozen.”

But the impact goes beyond public health. Social media has amplified hate speech targeting racial, ethnic, and LGBTQ+ communities, fostering environments of hostility and discrimination. We know that algorithms often prioritise polarising content, magnifying exposure to harmful narratives. Notably, a 2021 Facebook whistleblower exposed internal documents showing that the platform knowingly allowed hate speech to flourish, particularly in non-English-speaking regions where moderation resources were inadequate.

In parallel, the proliferation of conspiracy theories questioning climate science, election integrity, and other crucial topics has further eroded trust in institutions and experts. Despite introducing measures like fact-checking and content warnings, social media platforms have struggled to curb the spread of these narratives. One could argue that this issue has been kept in the long grass in order to maintain a high level of engagement and usage that leads to positive financial returns.

Here in the UK, The Children’s Commissioner for England reported in October last year (2024) that 91% of children aged 13 to 18 use social media platforms, with many encountering harmful content, including misinformation. The report emphasised the swift spread of false information and its potential to cause real-world harm.

Meanwhile, in the US, In October 2023, over 40 states filed lawsuits against Meta, alleging that its social platforms are addictive and harm children’s mental health. The lawsuits claimed that Meta knowingly designed features that exploit psychological vulnerabilities in young users, leading to increased screen time and exposure to harmful content.

The Wall Street Journal reported Internal research from Meta that revealed that Instagram can have detrimental effects on teenagers’ mental health, particularly among adolescent girls. The findings indicated that Instagram exacerbates body image issues for one in three teenage girls and contributes to increased rates of anxiety and depression.

What we need are platforms where safety and safeguarding are built-in and which could actually generate, for the tech companies, greater financial returns. But of course, US companies think in Quarters not the long term.

The Evolution of Social Media and Its Advertising-Driven Model

When social media platforms like Facebook, Instagram and Twitter (now X) began in the early 2000s, it was all about joining for free and delivering experiences that helped people around the world connect, communicate and share information. Companies like Facebook grew because of advertising revenue, with companies investing heavily in reaching expansive user bases.

Facebook was founded nearly 20 years ago on 4 February 2004, with a first private investment of $500,000 from Peter Thiel, co-founder of PayPal, in exchange for 10.2% of the company. Five years later, it made a profit. Three years later, in 2012, it filed for its initial public offering (IPO) on February 1, 2012, going public on May 18, 2012, raising $16 billion and achieving a market valuation of $104 billion, making it one of the largest IPOs in tech history.

Today, Meta has over 3 billion monthly active users on Facebook and over 1.4 billion on Instagram. They also own WhatsApp.

They have the audiences that brands and companies want to reach and engage with, which is why, for instance, in 2023, Meta Platforms reported a total revenue of $134.9 billion, marking a 15.69% increase from the previous year. Advertising remains the cornerstone of Meta’s income, contributing approximately 97% to the total revenue.

Meta Platforms reported a net profit margin of 28.98%, and the operating margin for 2023 was 34.66%, showing an improvement from 24.82% in 2022.

The US and Canada are the largest markets for Meta, accounting for 39% of its revenue in 2023 at $52bn, with Europe accounting for 23% and Asia Pacific 20%. Don’t look at these numbers without considering the regulatory pushback that might be coming their way from Zuckerber’s announcement and the potential regulatory oversight that might be coming their way.

How did Facebook and the Meta Platforms grow and create the environment that we are now experiencing?

In simple terms, money and advertising.

Facebook has done an excellent dragnet job globally, and advertisers are willing to pay to reach people on its family of apps.

Yet marketing and advertising agencies have been critical in helping Facebook and Meta grow. They have guided brands to optimise their presence on these platforms, further entrenching the reliance on digital advertising.

Advertisers and their agencies need Facebook and Instagram as much as they need their advertisers and spending. They both need audiences that stick and stay on Facebook and Instagram for as long as possible. Their relationship is symbiotic.

Keeping users on the platform requires the platform and content on it to be designed in such a way that it creates regular daily usages -  addiction, an issue that has been identified by numerous medical researchers, including this 2023 paper published in the American Journal of Law and Medicine and which Scott Galloway highlights in his latest Pivot podcast with Kara Swisher.

The Proliferation of Misinformation and Disinformation

The expansive reach of social media has directly and indirectly facilitated the spread of misinformation and disinformation. Algorithms designed to maximise user engagement now amplify sensational or misleading content, posing significant risks to the societal well-being and brand integrity of companies exposed to malicious content.

As the dominant social media platform, Facebook has become central to the sharing and amplifying of information and misinformation, especially when shared in Groups or directly through its Messenger App.

The platform's algorithms, designed to prioritise user engagement, have inadvertently or not favoured sensational and misleading content, allowing misinformation to flourish. This engagement-centric model has led to the proliferation of emotionally charged narratives, often outpacing efforts by fact-checkers and moderating entities, who will now be gone, to mitigate harmful content.  

Research confirms this and shows that misinformation circulating on Facebook can and has swayed public opinion, eroded trust in democratic institutions, and amplified political polarisation, something that Zuckerberg has long disputed.

Yet, to counter that perception, Zuckerberg 2020 created an independent Oversight Board to oversee and review Meta’s decisions on content moderation, ensuring accountability and transparency in managing complex cases involving free expression and harmful content.

Membership of the board included experts in law, human rights, and journalism. It acted quasi-judicially, making binding decisions on content disputes and offering policy recommendations to guide Meta’s moderation practices.

Yet, like other activities, the Oversight Board was a tactic designed to deflect attention from regulators and stakeholders.

Meta’s Transition to Community-Driven Moderation: Potential Risks

In a significant policy shift weeks before Donald Trump’s incoming administration, Meta's announcement aligns with the values of the new government.

Adopting a Community Notes system, like X, but not like Wikipedia, puts the responsibility of users or the platform to flag and contextualise potentially misleading posts. This is in the US, where freedom of speech is enshrined in the Constitution.

Equally, it is worth remembering the protection that companies that Meta and X have from Section 230 from the US Communications Decency Act as publishers of people’s posts on their platforms.

Removing content moderation in the US and then working with the incoming government to lobby international markets to follow suit or not penalise Meta risks, putting local and global businesses at risk of being associated with misinformation and hateful content. Is this what they want?

There is an increased risk of a brand's reputation being damaged by advertising on Facebook or Instagram because their ads may appear alongside or within content containing misinformation or hate speech.

The proposed absence of robust moderation may result in a more volatile content and digital advertising landscape, making it challenging for brands to ensure their advertisements are placed in appropriate contexts.

If brands get caught out, any association can lead to public backlash and negative publicity.

Recommendations for Businesses Navigating the Evolving Digital Landscape

Businesses, brands and governments that have a presence on Meta platforms are likely to see a change in content on Facebook and Instagram.

The reduction of human moderation increases the risk of brand content becoming compromised by hateful content that risks damaging the advertiser's brand. As a result, companies should do the following:

1. Conduct Comprehensive Risk Assessments:

• Regularly audit digital advertising campaigns to identify potential brand safety issues.

2. Diversify Advertising Channels:

• Explore alternative platforms beyond Meta and X to mitigate risks associated with policy changes.

3. Advocate for Transparency:

• Support initiatives calling for greater transparency in content moderation practices on social media platforms.

• Remember, while Zuckerberg might be embarking on a global campaign against ‘censorship’, your advertising spending gives you influence to ensure that the platform delivers reach without risk. Be more vocal, and lobby Meta like you would lobby your government.

4. Engage in Industry Collaboration:

• Participate in industry groups to advocate for responsible digital advertising practices and effective content moderation.

• Work and engage with other advertisers who share your concerns. To a company like Meta, money is the influence that can shape their product around your wants and needs.

Adapting to a Fragmented Digital Ecosystem

The internet is fragmented, driven by regional regulations and platform policy shifts, and presents complex business challenges.

By adopting proactive strategies and remaining vigilant, companies can navigate this evolving landscape, safeguarding their brand integrity while being more aggressive in getting Meta and others to ensure that Facebook in their region is what fits in that market.

Marketing and advertising budgets are the influence that brands will need to use if the platforms they have a presence on are to remain safe for advertisers and audiences.

Elon Musk’s Political Alignments: Strategic Moves or Reputational Risk?

Elon Musk, one of the world’s most influential entrepreneurs, has expanded his role and ambition from disrupting technology to wanting to disrupt global political discussions. The world’s richest person vies to become the world’s Chief Disruption Officer.

Known for his leadership of Tesla, X, SpaceX, Starlink and other groundbreaking companies, Musk has waded into the political sphere with recent political endorsements and activities that have sparked significant global debate.

But, his moves and statements have been controversial, with him supporting right-wing, far-right and libertarian figures and parties, including Donald Trump, Germany’s Alternative for Germany (AfD) party, and UK politicians Nigel Farage and Tommy Robinson, actions that raise questions about his motivations, potential business consequences, and the opportunities he might actually be creating for his own ventures.

Musk’s Political Footprint: Support for Right-Wing Agendas

Musk’s political involvement became headline news during the 2024 U.S. presidential election last year when he donated over $277 million to Donald Trump’s campaign and other Republican candidates. This made him the largest individual donor of the election cycle. However, his influence has not been confined to the U.S. In Germany, Musk expressed support for the far-right AfD party, prompting Chancellor Olaf Scholz to raise concerns about foreign influence in domestic politics. Similarly, in the UK, Musk’s public criticism of Prime Minister Keir Starmer and advocacy for controversial figures like Tommy Robinson have drawn sharp responses from political leaders.

Musk has used his social media platform, X (formerly Twitter), to amplify his views and those of people and causes that he supports. Since he bought the platform, he has stripped out any moderation ability and promoted it as a place for free speech, aligning it with his self-declared view of being a ‘free-speech absolutist.’

As the global town square owner of a platform with over 450 million active users and dropping, his comments have far-reaching implications, shaping political discourse and impacting relationships with stakeholders in various markets. What he says on X is picked up by traditional journalists who take the questioning to who he questions without returning to him for context or comment.

Elon knows that today’s personality and celebrity culture are ways of living that serve him very well in influencing others and promoting his views.

Potential Motivations: Ideology or Business Strategy?

Musk's libertarian-leaning views might influence his engagement with right-wing politics, which favour minimal government intervention. However, there are likely business considerations at play as well.

Many right-wing governments advocate for deregulation and lower corporate taxes, both of which could benefit Musk’s companies. For instance:

• Tesla, which dominates the electric vehicle (EV) market, is subject to stringent regulations on emissions, manufacturing, and supply chains. Right-wing policies promoting deregulation could lower compliance costs and increase profit margins. Additionally, with other car manufacturers, such as from China, starting to compete with his cars on price and product, it is in his interest to challenge any policy that allows any competition to his position.

• SpaceX and Starlink, which rely heavily on government contracts for satellite launches and space exploration, could gain from a political climate that prioritises defence and space advancements over other federal US expenditures.

• X, as a privately held social media platform, benefits from Musk’s advocacy for unrestricted speech, aligning with libertarian principles that appeal to some right-wing ideologies.

Challenges from China’s EV Industry and Market Preferences

Musk’s political endorsements may also be a strategic reaction to China's growing competition in the EV market. Chinese automakers, supported by state subsidies and favourable policies, are rapidly expanding their global footprint. But this has pushed the EU to impose a 35% tariff on Chinese EVs.

Tesla faces increasing pressure as nations, including some European markets, appear to tilt toward Chinese EVs due to their affordability and government incentives. If political decisions in key markets favour China’s EV industry, Tesla could be disadvantaged. For instance, the European Union’s recent focus on investigating subsidies for Chinese EVs reflects a challenging dynamic for Tesla, which depends heavily on sales in these markets.

Just this week, Tesla reported its first-ever slip in sales as competition grows. This is a critical issue for Elon Musk, whose net worth is tied to the shares he owns in Tesla, which he uses to gain capital and debt for other projects. Elon needs Tesla to maintain a high price, which is why, as you would expect, competition isn’t good for him.

Investors and Revenue Streams: Who Stands Behind Musk’s Ventures?

Musk’s companies operate across diverse sectors and attract a wide range of investors. While Musk himself retains significant ownership stakes, external investors contribute heavily:

• Tesla derives most of its revenue from vehicle sales, with additional income from energy storage and solar products. While major institutional investors include U.S.-based firms such as The Vanguard Group and BlackRock own Tesla, Elon still retains around 13% of the company, contributing significantly to his wealth. In terms of revenue, in 2023, Tesla generated about 46% of its total revenue in the US, 22% in China and approximately 30% was derived from various countries, including those in Europe and other regions.

• SpaceX and Starlink earn revenue from satellite launches and US government contracts, with investments from entities like Google and Fidelity Investments. Just this week, Politico reported that Musk was ready to provide Italian Prime Minister Meloni with Starlink secure comms in a contract potentially valued at €1.5 billion, a move that would equally anger the EU.

• X was financed privately during Musk’s acquisition, with contributors including Saudi Arabian investor Prince Alwaleed bin Talal and 

• Neuralink and The Boring Company, though still in the development stages, have attracted funding from venture capital firms and private investors.

The geopolitical affiliations of these investors could complicate Musk’s political activities.

For instance, Saudi Arabia’s involvement in X raises questions about how Musk’s support for right-wing populists might align—or conflict—with the broader geopolitical interests of his investors. Additionally, his recent Series B and C funding rounds for X.ai from venture capital companies that the private market will still invest in him.

Reputational and Strategic Communication Impacts

Musk’s outspoken political positions have, as expected, sparked polarising reactions.

While his supporters hail him as a champion of free speech and individual liberties, his critics argue that these endorsements risk tarnishing his companies' reputations.

For Tesla, customer perception could be a significant concern. The EV market is often driven by environmentally conscious consumers, many of whom in markets around the world may be alienated by Musk’s alignment with controversial political figures.

In addition, Musk’s international endorsements risk straining diplomatic relationships. For example, his public support for Germany’s AfD party has already drawn criticism from Germany’s current Chancellor Scholz, highlighting the risks of perceived foreign interference. Similarly, his comments about UK politics have provoked strong reactions from MPs from across the political spectrum.

On the platform side, X is also feeling the repercussions. Musk’s political commentary has continued to raise questions about the platform's objectivity and attractiveness to advertisers, many of whom have already left. Other brands may hesitate to associate themselves with a platform increasingly perceived as a vehicle for polarising political content.

How Musk’s Targets Are Reacting

Political figures targeted by Musk have responded with varying degrees of resistance. In the UK, Prime Minister Starmer has rightly dismissed Musk’s comments as “lies and misinformation,” while Nigel Farage distanced himself from Musk’s endorsement of far-right activist Tommy Robinson. These reactions highlight the nuanced challenges Musk faces in building political alliances that align with his views and/or business objectives.

If he cares, Musk risks becoming a liability to the political class that he has associated himself within the US, which further creates a risk to the companies that he has founded and has taken to market.

Strategic Considerations for Global Leaders and CEOs

Musk’s political activities underscore the intersection of business strategy and political engagement.

Senior business leaders and policymakers must consider the implications of associating with polarising figures, especially in markets with diverse consumer bases and regulatory frameworks.

While a traditional corporate leader might work to navigate the delicate balance between personal ideology and corporate interests, Musk isn’t a traditional leader. Instead, he is a disruptor who is too big to fail and focuses less on the reputational risk and more on the influence he can leverage from building an international base around himself and his ventures, especially in AI.

A High-Stakes Gamble

Elon Musk’s political endorsements reflect a complex interplay of personal beliefs, business strategy, and global competition. While these actions may secure short-term benefits in deregulation, tax relief, and incentives, the long-term reputational risks to his companies are slowly growing.

For CEOs and senior leaders, Musk’s approach serves as both a cautionary tale and a strategic case study in managing the interplay between business and politics in an increasingly interconnected world.

Musk is advocating an aggressive viewpoint without considering the opinions of those who praise him. If they react and there are consequences, then there could be consequences for his value and his ventures.

Unlocking Economic Growth through Strategic Communication and Stakeholder Engagement in Government Innovation

Last week, I listened to a debate between Martin Wolf, the Financial Times' chief economics commentator, and Mariana Mazzucato, professor of the economics of innovation and public value at University College London.

The 30-minute talk, promoted through his The Economics Show podcast, was inspiring, not just for his questioning but, more importantly, for Mariana's insight. Mariana conveyed a strategic vision of the value that innovation can help unlock in both the public and private sectors. 

Innovation is the engine of economic growth, a transformative force capable of reshaping societies and driving prosperity. However, unlocking its full potential requires more than policies and investment.

As Mariana Mazzucato explained in her interview with Martin Wolf of The Financial Times, governments worldwide must adopt an entrepreneurial mindset to create an environment where growth can deliver for all.

Yet, innovation and unlocking the value that this can generate requires a specific culture and mindset. It needs specific strategic communication and stakeholder engagement to overcome the systemic barriers to innovation that have taken hold of both the public and private sectors.

What Governments need to see themselves as entities that create the ecosystem where private companies can prosper. They need to invest in new technologies and pump-prime both enterprises and entrepreneurs in order for them to succeed. However, this needs to be done using a venturing and corporate venturing culture where financial and/or regulatory support comes with both shareholder and other strategic returns. It is a government that can create a win-win environment for business, government and the wider public.

Listening to the interview and podcast, the following are some of the views that stood out to me regarding how governments around the world, their respective civil services, and their stakeholders can unlock the value of innovation and stimulate economic growth.

The Challenge: Barriers to Innovation in Government

In her conversation with Martin Wolf, Mazzucato identified several challenges that hinder governments from driving innovation effectively:

Risk Aversion in Civil Service:

“We have decimated a lot of government capacity, capabilities which we had for the Moon landing within the civil service with massive outsourcing,” Mazzucato noted. This reluctance to take risks stifles experimentation and reduces the public sector’s ability to lead bold initiatives.

This is an issue I have encountered in my over eight years of working with and supporting international governments, where major consultancies are relied upon to design and deliver projects and services, even though insight and capability exist within the civil services.

The culture of risk aversion has created a culture where blame can be passed onto consultancies if outcomes are not met, which highlights how failure is perceived.

Market-Fixing vs Market-Shaping:

Governments often see themselves as market fixers, intervening only to correct failures rather than market shapers proactively driving economic transformation. This narrow perspective limits the scope of public sector innovation.

Yet, as regulators, governments can create the ecosystem and market where businesses can grow and thrive. 

Lack of Urgency in Addressing Challenges:

As Mazzucato observed, “We treat wars with urgency, but not societal challenges like climate change or health crises.” This inertia prevents the alignment of resources and attention required for impactful innovation.

Privatisation of Rewards:

“We socialise risks but privatise rewards,” Mazzucato said, pointing out that public investments often fail to deliver equitable returns to taxpayers. This imbalance undermines trust in public-private partnerships.

Again, this issue is repeated when financial and regulatory support results in limited returns to the taxpayer because of political dogma.

Mariana uses the example of the U.S. government supporting Tesla in 2010. Tesla received a $465 million loan from the U.S. Department of Energy, which it repaid by 2013.

Repaying the loan in 3 years initially sounds excellent. Yet, as Mazzucato points out, it would have been ‘greater’ if the US government had asked for, say, 3 million shares.

In 2010, Tesla’s stock was trading at around $4 per share (adjusted for subsequent stock splits), giving the company a market capitalisation of approximately $460 million.

If the U.S. government had negotiated for 3 million shares as part of the loan agreement, it would have acquired about 2.6 percent of the total outstanding shares.

As of January 3, 2025, Tesla’s stock price was approximately $410 per share, which valued those 3 million shares at $1.23 billion.

Certain countries think and negotiate like this, looking for medium to long-term returns.

Sovereign Wealth Funds like Saudi Arabia’s PIF and Singapore GIC are two examples that strategically allocate capital to sectors and regions that align with their long-term investment objectives, contributing to economic diversification and growth in their respective countries.

Strategic Communication and Stakeholder Engagement

To address these barriers and capture the opportunities of new technologies governments must develop a more strategic and entrepreneurial mindset that embraces strategic communication and foster dynamic stakeholder engagement.

Mazzucato’s insights offer a roadmap for achieving this transformation.

Communicate a Bold Vision

Mazzucato stressed the importance of setting clear, measurable goals: “Treat climate or health challenges with the same urgency as wars, with bold, inspirational missions.”

Strategic communication should articulate these missions, explaining their importance and demonstrating how they align with national interests.

It is critical to develop a compelling narrative that demonstrates the long-term benefits of innovation for economic and societal development, detailing the value that will be experienced when.

Engage Stakeholders Proactively

Mazzucato emphasised the need for governments to be “capable, entrepreneurial, and outcomes-oriented” to collaborate effectively with the private sector.

Engagement must be inclusive, ensuring all voices contribute to innovation. This can be done through:

• Public-Private Partnerships: Establishing collaborative frameworks that leverage private sector expertise while aligning efforts with public objectives.

• Academic Alliances: Work with universities to translate research into real-world solutions. For instance, partnerships with institutions can unlock breakthroughs in renewable energy and healthcare. Universities already support innovation through their venturing and tech transfer teams, supporting with the taking to market of academic research.

I engage strategically with stakeholders by linking businesses to governments and start-ups to investors. Establishing the right relationships is essential for unlocking value from existing innovations.

Foster a Risk-Tolerant Culture

Governments must embrace risk as an integral part of innovation. “Failure is inevitable in trial-and-error processes,” Mazzucato stated.

A culture that values learning from failure can unlock transformative ideas. Failure is only failure when no learning is taken from what hasn’t worked.

Build Institutional Capacity

“The Moon landing was possible because NASA had the capability and confidence to work with the private sector,” Mazzucato highlighted. Similarly, governments today must rebuild internal expertise to lead innovation.

Having teams mixed with specialists from the private sector can help create a dynamic environment and culture that is agile and focused on the outcome, whether tactical or strategic.

It is imperative that there are clear communications through and across the government to ensure that everyone fully understands what the expected delivery is and the part and role that they have to play.

The UK Government's Service Manual, created just over 10 years ago in 2013, is an example of a playbook created by learning best practices from digital service design and delivery.

Ensure Equitable Returns

Mazzucato argued that public investments should deliver tangible benefits to society. “Tesla was a success story, but the profits went entirely to private investors. Why didn’t the public sector capture any of the upside?” she rightly questioned.

A mindset and commercial culture need to be established so that the government can negotiate better terms from the public-private partnerships it enters into, such as equity stakes or profit-sharing models.

Additionally, intellectual property laws must be reformed to ensure public-funded innovations are accessible and affordable.

Mission-Oriented Innovation

One of Mazzucato’s key insights was the success of mission-oriented innovation, exemplified by the Apollo programme. “The Moon landing wasn’t just about aerospace,” she explained. “It was about solving hundreds of problems across sectors, from nutrition to software development.”

Governments today can replicate this approach by setting bold missions that cut across industries, such as achieving net-zero carbon emissions or eradicating preventable diseases.

What Governments Can Learn:

• Set Clear Missions: Define goals with measurable outcomes, ensuring progress can be tracked and celebrated.

• Break Down Internal Silos: Encourage cross-departmental collaboration to pool expertise and resources.

• Incentivise Innovation: Offer challenge-based funding to the private sector, rewarding solutions that align with public missions.

• Improve Communication and Engagement: Ensure that purpose and outcomes are clearly communicated and understood by all stakeholders to ensure that delivery can be secured.

A Call to Action

Unlocking the economic and societal value of innovation, as Mariana Mazzucato points out, requires governments to adopt an entrepreneurial mindset. This transformation hinges on strategic communication and proactive stakeholder engagement.

By articulating bold missions, fostering collaboration, and rebuilding institutional capacity, governments can position themselves as not just leaders but critically as enablers in innovation.

Equally important is cultivating a culture that embraces risk and ensures equitable returns for public investments.

With the right strategies, the public sector can catalyse transformative change, unlock economic growth, and address the grand challenges of our time.

And while the talk might be on strategy, the critical job is to establish a culture that changes the mood not just of the civil service, but of the nation.

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If you would like to learn more about how strategic communications and stakeholder engagement support can unlock innovation then do get in touch.

Why Multilingualism is Key to Business Success in a Globalised Yet Fragmented World

Is the world losing interest in English as it’s lingua-franca? Well, according to a recent article by The Economist, in China at least the number of people learning English is declining. And it’s not just in China where there has been a drop in interest in learning English.

With the world moving towards a more multipolar model with the rise in barriers and protectionism, what we are seeing is countries starting to look more inwards and becoming less reliant on English as the language of trade and commerce.

At the start of globalisation, many countries saw English as a must-have for prosperity and growth. The size of the US and UK markets and the history of commerce that they had established English as a must-have. All while in the UK, there’s been a drop in learning languages. Over the past two decades, the UK has seen a significant decline in the learning of foreign language, particularly in secondary education. In 2002, 76% of pupils in England were entered for a foreign language GCSE qualification; by 2017, this figure had dropped to 47%. Yet, the history of the UK has been one of trade. A country you would think would see the value of engaging in a local language overseas.

As a child, I was brought up bilingual, speaking English and Spanish at the same time. As I grew up and even today, this gave me the ability to quickly pick up other languages, such as French and German, during my early years or when I travelled in Europe.

In later years, when I worked in the Middle East or South East Asia, or the early 1990s when I lived in Hong Kong, I tried to learn basic Arabic or Bahasa Melayu or Cantonese. The ability to show my respect for local culture by trying to speak and engage in local languages I know gave me an ability to understand better business and culture in different communities around the world.

But today, with the world fragmenting into different blocs, Western companies and investors will have to rely less on English if they are to expand and find growth overseas.

Equally, international brands must understand to engage in local languages while respecting local cultures if they are to build trust and their reputation in overseas markets.

Business leaders, founders, and investors must embrace foreign languages and cultivate multilingual skills within their teams to thrive in these challenging times.

The Geopolitical Context: Why English Alone is Not Enough

Globalisation has been a challenging, borderless phenomenon many once envisioned. However, increasing geopolitical tensions and the rise of protectionist policies, such as those between the US and China or within the European Union and its trade partners, is fragmenting the global and interconnected economy.

Businesses seeking to maintain or expand internationally must navigate complex regulatory environments, local government expectations, and culturally nuanced consumers who want brands to be more authentic and relatable.

Relying solely on English is insufficient in this environment and risks alienating key stakeholders.

Governments and businesses in non-English-speaking countries increasingly expect international partners to demonstrate linguistic and cultural competence as a sign of respect and commitment.

As highlighted in The Economist, China’s waning emphasis on English proficiency underscores a broader trend: the one where international businesses must be designed around local expectations rather than vice versa. This issue impacts the marketing and branding of Western products in regional markets where the culture differs from that of the home market.

Britain is estimated to lose out on the equivalent of 3.5% of its GDP every year (2018), because of its population’s relatively poor language skills.

The Business Case for Learning Foreign Languages

Building Trust and Respect

Trust and respect are the cornerstones of any successful business relationship. When leaders and employees speak the language of their counterparts, they convey more than just practical capability — they signal a willingness to engage deeply with their culture and values. This fosters goodwill, reduces the potential for miscommunication, and builds stronger, more resilient relationships that create trust and mutual respect. International brands become more relatable and accessible to consumers and stakeholders in overseas markets.

Data from the British Chambers of Commerce found that UK businesses needing more foreign language skills often need help securing international deals. Up to 70% of respondents had no foreign language ability for the markets they served, significantly hindering their export performance.

Meanwhile, companies that invest in multilingual talent can better navigate international markets and establish lasting partnerships.

Enhancing Credibility with Governments and Regulators

Geopolitical complexities mean securing buy-in from foreign governments and regulators, which is more critical than ever for businesses entering new markets. Leaders who can communicate in the local language are better equipped to build rapport with policymakers and navigate regulatory environments.

Multilingualism demonstrates a level of commitment that earns respect, paving the way for smoother negotiations and collaborations.

For example, in sectors such as technology, where data protection, intellectual property, and regulatory compliance are major concerns, the ability to engage with government officials in their native language can significantly enhance credibility. This is particularly true in countries where cultural norms value personal relationships as much as if not more than, formal agreements.

The Role of Multilingual Teams in Strengthening Company Reputation

The benefits of multilingualism extend beyond leadership. Companies that foster a culture of language learning and cultural competence across their workforce are better positioned to gain the trust of international partners and clients. Multilingual employees can act as cultural ambassadors, bridging gaps between headquarters and local offices or between a company and its global stakeholders.

Furthermore, research shows that companies with multilingual teams are more innovative and adaptive. Language skills facilitate better knowledge sharing and collaboration across borders, ensuring that global teams work more effectively. This improves operational efficiency and enhances the company’s reputation as a culturally aware and inclusive organisation.

Ten years ago, when I was Grayling’s Head of Digital for the Middle East, Turkey and Africa, I remember learning about the differences in Arabic that existed (Levantine, Gulf Arabic, Maghrebi Arabic, Egyptian Arabic and others) and the need to ensure that content that was created was adapted for the geographical location that this was being activated in.

Why Language Matters Even More in an Era of Protectionism

Protectionist policies and trade barriers force companies to localise their operations, from supply chains to marketing, communications and stakeholder engagement strategies. This localisation requires a deep understanding of regional markets, languages, and cultural norms. Without these skills, companies may be seen as out of touch or exploitative, leading to reputational damage and lost opportunities, not just in the local market but globally, if they are an international brand.

Consider the case of a UK technology company expanding into the EU. Post-Brexit, the regulatory environment has become more complex, and relationships with EU governments have become more sensitive.

Companies that invest in French, German, or Spanish-speaking leaders are better positioned to navigate these challenges and secure the trust of their European counterparts.

Similarly, in Asia, where markets such as Japan and South Korea value formal communication and cultural understanding, companies that communicate in the local language are considerably more likely to succeed. In these regions, even minor gestures — such as conducting meetings in the native language or translating marketing materials — can substantially influence a company's perception.

Practical Steps for Business Leaders

1. Invest in Language Training for Leaders and Teams: Encourage senior executives and employees to learn the languages of key markets. This will improve communication and build confidence when engaging with international partners. As an example, In 2013, the FCDO inaugurated a dedicated language school aimed at delivering extensive language education to its staff. The facility started with the provision of approximately 70,000 hours of training annually, covering around 70 languages and serving over 1,000 students. The objective was to ensure diplomats possess the necessary linguistic proficiency to operate effectively in diverse cultural environments. This then expanded into the Civil Service Language Network.

2. Hire Multilingual Talent: Actively recruit individuals with linguistic and cultural expertise in target markets. These employees can act as interpreters, cultural mediators, and market experts. Support and listen to their real-life experience when you are visiting that location, as they can help improve how you are perceived locally.

3. Integrate Multilingualism into Corporate Strategy: Develop a comprehensive language strategy that aligns with your business objectives, focusing on key markets where local engagement is critical. Don’t design a communications and/or marketing strategy that uses a dragnet Anglo-Saxon model that lacks relevancy locally, as you create risk for your brand and how you are perceived locally.

4. Foster Cultural Competence Across the Organisation: Provide training beyond language to include cultural norms, business etiquette, and regional market dynamics.

5. Partner with Local Experts: Collaborate with consultants and advisors who understand your target regions' linguistic and cultural nuances to ensure effective communication and strategic alignment.

A Strategic Imperative for the Future

The ability to speak foreign languages and understand international cultures is no longer just a skill but a competitive advantage.

As the global economy continues to fragment along geopolitical lines, businesses that invest in multilingualism will be better equipped to navigate complex landscapes, build trust, and secure sustainable growth.

For founders, leaders, and investors, this is not just about securing deals — it is about earning respect, fostering trust, and enhancing reputation in a world where these qualities are increasingly valued.

Multilingualism is not merely a tool for communication; it is a strategy for success in a changing world.

The Strategic Power of Storytelling: How Narratives Shape Identity, Drive Investment, and Influence Policy

Since its founding in 1991, The Milken Institute has earned a reputation as a leading global think tank focused on advancing collaborative solutions to the world’s most pressing economic and social challenges. The institute brings together world leaders, innovators, and visionaries through its summits and forums to address pivotal topics that shape societies and economies.

At its recent Middle East and Africa Summit last week, the institute hosted a panel discussion titled ‘The Art of Storytelling: Shaping Culture, Identity, and Global Impact,’ featuring prominent voices such as Edward Norton, actor and UN Goodwill Ambassador for Biodiversity, and Elie Saab Jr., Vice Chairman and CEO of ELIE SAAB.

The session explored the role of storytelling in defining cultural identity, attracting investment, and influencing global narratives.

The power of story-telling must be considered and is critical for senior decision-makers in government, the C-suite, and the investment community to understand and invest in.

Watching it remotely allowed me to extract some key points made by the panellists from the discussion. It offered valuable lessons on crafting and leveraging narratives to deliver impact at scale, including in nation branding.

Why Storytelling Matters: A Strategic Asset for Governments and Businesses

Storytelling is more than an artistic endeavour. It is a strategic tool that governments and businesses can leverage to build trust, shape perceptions, and drive action.

Whether reinforcing national identity, inspiring stakeholder confidence, or influencing public policy, a well-crafted narrative has the power to transcend borders and cultural divides.

During the session, Norton and Saab illuminated how storytelling acts as a catalyst for transformation, both in society and the marketplace. Their insights underscored the urgent need for senior leaders to recognise storytelling as a key component of strategic communication and long-term planning.

Key Takeaways: Lessons from the Milken Institute Panel

1. Crafting Identity Through Narrative

Narratives are foundational to identity – whether for a nation, a city, or a corporation. Norton highlighted how storytelling enables organisations to project their values and aspirations, fostering a sense of unity and purpose.

Governments, for example, can use stories to rally citizens around a shared vision, while businesses can strengthen brand loyalty and investor confidence through compelling corporate narratives.

2. Shaping Global Perceptions of Cities and Regions

Saab made some great points emphasising the strategic importance of storytelling in urban development, citing Abu Dhabi as a model of how cities can use narratives to attract investment, tourism, and talent. By weaving a story that integrates heritage with future ambition, towns and regions can position themselves as dynamic hubs for economic growth and cultural exchange.

3. Balancing Heritage with Innovation

Balancing heritage with innovation is critical to storytelling success for both governments and businesses. Saab stressed that narratives rooted in authenticity—yet forward-looking—resonate most deeply with audiences. A country’s cultural heritage or a company’s founding story provides credibility, while a focus on innovation ensures relevance and appeal in a fast-evolving global landscape.

4. Storytelling as a Driver of Social and Economic Impact

Norton spoke passionately about storytelling as a force for good, especially when tackling societal challenges. Narratives that humanise complex issues—such as climate change, public health, or inequality—can galvanise action by making the abstract tangible. For decision-makers, this represents an opportunity to use storytelling to inform, inspire, and mobilise.

The Strategic Role of Storytelling in Communications

For governments and businesses, storytelling must move beyond tactical marketing or public relations to become a core and overarching element of strategic communications.

When integrated effectively, storytelling delivers measurable benefits:

• Building Trust and Credibility: Authentic narratives foster trust among stakeholders, whether citizens, customers, or investors.

• Driving Policy and Investment Alignment: Clear, compelling stories can align diverse stakeholders around shared goals, influencing policy and capital allocation.

• Differentiating Brands and Nations: In competitive global markets, storytelling offers a powerful way to stand out, creating emotional connections that transcend transactional relationships.

Recommendations for Senior Leaders: Leveraging Storytelling for Strategic Advantage

1. Understand the audiences and stakeholders you want to influence: Know your audiences, their views and opinions, and how they’ve been conditioned to be pro, anti or neutral to where you currently stand.

2. Invest in Authenticity: Ensure narratives reflect the values and aspirations of your organisation or nation. Authenticity builds trust and strengthens stakeholder engagement.

3. Blend Heritage with Forward Thinking: Use your history as a foundation, but focus on innovation and future goals to craft stories that resonate globally.

4. Make Storytelling a Core Competency: Develop internal capabilities to create and disseminate powerful narratives supported by dedicated resources and training.

5. Use Narratives to Tackle Big Challenges: Whether addressing societal issues or fostering innovation, storytelling can humanise complexity and inspire collective action.

6. Integrate Storytelling into Strategic Planning: Embed storytelling into policy, branding, and stakeholder engagement strategies to maximise impact.

The High-Stakes Value of Storytelling

We are living in a global environment where nation-states are competing against each other for growth. Leveraging our history and values, together with our ambition, can not just differentiate countries, but it can also help change a country's culture to unlock productivity and growth. 

For senior government officials, C-suite executives, and international investors, storytelling is not merely a communication tool but a strategic asset, a north star, the destination.

The Milken Institute’s panel highlighted that narratives can shape perceptions, drive change, and create lasting value. In an era of complexity and competition, the ability to craft and deliver compelling stories will be a defining factor in success.

Governments and businesses that embrace storytelling and establish this as a central pillar of their strategy will shape the present and secure their legacy for the future.

Strategic Imperatives for 2025: How to Navigate Turbulence with Effective Communication and Stakeholder Engagement

As we move into 2025, governments, investors and businesses across sectors and markets worldwide are preparing for what is expected to be a very significant and turbulent year.

Growing geopolitical tensions, economic uncertainties, and rapid technological advancements create a complex and unpredictable landscape. The stakes are high.

Add to that the continued change in how citizens get information and the continued rise of misinformation and disinformation that is sowing seeds of doubt and increasing the levels of distrust. You have an environment where it’s not just governments at risk but also companies, their reputations, and how they are perceived. We are, as they say, living in interesting times.

With the world in such a vulnerable state, building and protecting the reputations of your organisation and leadership is going to be critical. even investors need to focus on not just supporting with capital but also strategic reputational development know-how, given how today’s public wants brands and partners that are more relatable, engaging and authentic.

Below, I explore how governments, international businesses and investors can adapt to these challenges and adopt their communications and engagement approaches to mitigate the risks in front of them and rebuild a level of trust that delivers growth in the medium to long term.

Understanding the 2025 Landscape: Anticipating Challenges and Opportunities

The global economy is bracing for headwinds in 2025, with signs of strain across multiple markets.

Geopolitical issues are creating multiple challenges for countries and international businesses. Ongoing conflicts, such as those in Ukraine and the Middle East, present substantial risks to global economic stability. Escalations could lead to higher energy prices and increased market volatility, dampening growth prospects that the world is working hard to secure. The incoming GOP/MAGA/Trump US administration, which I’ve already written about, will be taking a more protectionist and America-first approach, creating many challenges. The resurgence in protectionist policies, not just in the US but also in other international markets, poses a significant threat to global trade and economic growth, with the OECD warning of increased trade tensions and import restrictions that could disrupt supply chains, elevate consumer prices, and adversely affect economic expansion. Everything that consumers do not want.

The environment that is taking shape in front of us will force governments to take decisive individual leadership while finding and working with close international partners. Clear communication will be critical, as will policies that foster trust and transparency, particularly around trade and innovation, especially given the rapid technology change that is already disrupting many businesses.

Meanwhile, businesses must remain agile, finding new growth opportunities while managing operational risks. How consumers perceive them, partners across their supply chain and regulators will be critical in effectively navigating these turbulent times.

Investors, especially those with international exposure, need to adopt a delicate balance between caution and ambition, leveraging strategic insights to identify resilient opportunities in high-growth sectors in AI, Life Sciences and Healthcare, Quantum Computing, Digital and Technology, Cleantech and Space.

To learn more about the World in 2025, read:

• Chatham House’s Forward World look: https://www.chathamhouse.org/publications/the-world-today/2024-12/world-2025 

• The Economist Industry Unit: https://www.eiu.com/n/campaigns/industry-outlook-2025/ 

Creating Adaptive Communication Strategies

In a world where misinformation spreads rapidly and public trust in institutions is fragile, communication strategies must prioritise clarity, transparency, and authenticity.

For governments, this means maintaining open channels with the public, national and international businesses, and stakeholders. Practical and transparent policy messaging can significantly bolster public confidence, especially in contentious areas such as regulation and sustainability. However, this will take time and will need to be results-driven. People need to see progress before loaning an organisation the trust with which they can build their reputation.

Businesses, particularly those eyeing growth in 2025, must tailor their communication to resonate with diverse audiences, from employees and customers to regulators and investors. Digital engagement will be key: leveraging social media and other digital platforms can help organisations amplify their message and build stronger stakeholder relationships. But, and this will be critical, authenticity will be essential in the tone of voice used if trust is going to be secured and positive perceptions are to be secured, an issue given how many communicators have lost touch with audiences that are not being heard.

Like governments, businesses must invest in an always-on listening and engagement framework, especially given how every brand is a target for misinformation campaigns.

On the other hand, investors must engage with investee companies to ensure alignment in communication priorities. For example, clear and consistent messaging on Environmental, Social, and Governance (ESG) performance can enhance reputations and attract further capital.

Communications is no longer a nice to have a tactical set of tools. Instead, suppose the risk is to be mitigated, and reputations grow. In that case, investors must establish effective strategic communication frameworks within their enterprises and the start-up companies they are investing in. They want to see a return on investment.

To learn more about the misinformation risks in 2025, read:

• The Alan Turing Institute: https://cetas.turing.ac.uk/publications/ai-enabled-influence-operations-safeguarding-future-elections 

• Alethea: https://alethea.com/ 

Engaging Stakeholders Through Strategic Initiatives

Stakeholder engagement is not a one-off activity but a continuous process that builds trust and fosters collaboration for governments, inclusive policymaking that considers the voices of not just industry leaders but also SMEs that often account for the most significant part of the economy and have the potential to grow and deliver jobs and increase productivity, as well as academia, and civil society can generate buy-in and improve policy effectiveness. For instance, joint public-private initiatives to foster innovation in green technologies can drive long-term economic growth while addressing climate goals.

Businesses looking to grow must focus on nurturing relationships with customers, suppliers, and regulators. Listening and responding to stakeholder feedback ensures alignment with market expectations and strengthens trust.

Regular updates on business performance, strategic direction, and sustainability commitments will build stakeholder confidence, which requires affected strategic and tactical communications.

For investors, stakeholder engagement extends to the ecosystems of their portfolio companies.

By establishing connections between start-ups, regulators, and industry networks, venture capitalists, corporate venture capitalists and private equity investors can create and deliver value beyond financial returns.

Engaging stakeholders in 2025 needs to convey the purpose of unlocking growth through collaboration.

This type of engagement enhances the reputation of individual investments and reinforces the investor's credibility.

To learn more about stakeholder engagement and reputation building in 2025, read:

• TechUK and LexisNexis report: https://risk.lexisnexis.co.uk/insights-resources/research/the-future-of-digital-trust 

Leveraging Technology for Enhanced Engagement

Technology is transforming how organisations engage with stakeholders. The more data we can deliver Large Language Models, the greater the opportunity exists to leverage AI to problem-solve at pace.

Governments can use data analytics to gain insights into public sentiment, enabling them to craft policies that reflect the needs and concerns of citizens. Virtual engagement platforms such as webinars and online consultations allow broader participation in policymaking processes. Mapping stakeholder engagement and the relations and influence each one has in a market can better deliver digital-twin environments through which effective policies can be tested before being issued for consultations.

Businesses can deploy analytics to understand customer behaviour and preferences, enabling more targeted and effective campaigns. Social media remains a vital tool for communicating with customers and stakeholders in real time, while advanced technologies such as artificial intelligence (AI) can personalise interactions and enhance customer experiences.

But above all the technology, organisations will put themselves at greater risk, as McKinsey knows and promotes through its communications campaign, it’s Never Just Tech. Every new technology or iteration must also consider human influence, such as culture and emotion.

For investors, technology provides a way to manage and measure stakeholder relationships across borders.

Prioritising Sustainability and Ethical Practices

In 2025, stakeholders will emphasise sustainability and ethical business practices even more. Governments must demonstrate leadership by adopting and promoting sustainable policies. These efforts should extend to encouraging private-sector innovation in areas such as renewable energy and sustainable agriculture, backed by transparent regulatory frameworks.

For businesses, integrating sustainability into the core strategy is now optional. Companies leading in ESG performance will attract customers, employees, and investors. Start-ups, in particular, must showcase their commitment to ethical practices to secure investment from venture capital and private equity players, whose portfolios are increasingly scrutinised for their impact on society and the planet.

Investors must also align with this shift. By embedding ESG principles into investment strategies and holding portfolio companies accountable, they can create long-term value while strengthening their reputations.

To learn more about sustainability and regulatory changes in 2025, read:

• Evershields Sutherland:  https://www.linkedin.com/posts/eversheds-sutherland_regulatory-trends-for-2025-activity-7271836231221616640-4kq5 

Monitoring and Adapting to Regulatory Changes

Regulatory environments will continue to evolve in 2025, particularly around sustainability, data protection, and cross-border trade. Governments must maintain open dialogues with businesses and investors to ensure that new regulations are fair and effective. Proactive communication about regulatory updates can help mitigate resistance and build trust.

For businesses, staying ahead of regulatory changes is essential to maintaining compliance and avoiding reputational risks. Developing internal systems for monitoring regulations and engaging with policymakers can offer a competitive edge.

Investors, particularly those with global portfolios, must be vigilant in assessing how regulatory changes impact their holdings. By working closely with investee companies and leveraging legal and advisory expertise, investors can navigate these complexities while maintaining alignment with their long-term strategies.

Resilience through Strategic Sophistication

The challenges of 2025 will test the resilience of governments, businesses, and investors alike.

Success will depend on adapting to an evolving landscape while focusing on communication, collaboration, and trust-building. For governments, this means fostering inclusive policies and transparent dialogues with citizens, industries and international partners. Businesses must embrace agile, stakeholder-focused strategies that prioritise sustainability and ethical practices. Investors, meanwhile, need to balance risk and opportunity, using technology and strategic engagement to build value across borders.

By adopting these approaches, organisations can weather the turbulence of 2025 and position themselves as leaders in their fields. Reputation is a long-term asset, and those who invest in building and protecting it today will reap the rewards tomorrow.

Navigating the Future of Corporate Venturing: Strategic Insights for Boardroom Leaders

Yesterday evening, London Business School hosted an event to discuss the future of corporate venturing. Hosted by the school’s Professor Gary Dushinitsky, Global Corporate Venturing James Mawson and REV Venture Partners Founder Tony Askew, the event gave an overview of where corporate venturing is, the challenges that corporate venture capital companies face and advice for CVCs to navigate the growing ecosystem so that they can support innovation and deliver growth.

Corporate venturing has rapidly evolved from a niche innovation tactic into a critical strategy for companies seeking to stay competitive in today’s dynamic business environment.

The discussions were illuminating, but one message stood out: the success of corporate venturing hinges on strategic alignment, long-term vision, and effective communication.

For senior leaders, understanding these pillars is key to unlocking the full potential of CVCs.

Strategic Alignment: Laying the Foundation for Success

A thriving CVC initiative must align with the parent company’s overarching strategic objectives. This goes beyond merely investing in promising start-ups — it demands a deliberate approach to ensuring that the CVC complements and advances the parent organisation’s broader goals.

However, it’s worth noting that the relationship between some corporates and their CVCs is often different and complex. This is down to the corporate culture and the understanding, or lack of, that exists within a corporate entity.

Key Actions for Leaders:

Culture and the lack of understanding of the value that corporate venturing can unlock is everything. And to unlock value and financial return, what is needed is for corporates and CVCs to:

1. Define Objectives Early: Are CVCs pursuing financial returns, strategic innovation, or both? Establishing clear goals from the outset ensures that CVC investments are targeted and relevant to the business’s needs.

2. Foster Cultural Synergy: Corporate culture can make or break a CVC initiative. Companies with risk-averse or hierarchical corporate cultures may stifle the entrepreneurial energy essential for CVC's success. Leaders must cultivate an environment that supports agility and innovation. Equally, within the CVCs, there is a need to be able to effectively communicate strategically with not just the market and potential start-ups but also their corporate ‘mothership.’

3. Integrate Strategically: Investments should not operate in isolation. Build pathways to integrate innovations into the core business, enabling scalability and impact across the organisation. Effective strategic positioning and engagement with senior management is critical. Fundraising and deals can be lost without the knowledge of C-Suite and Board members, their views and past experiences, even how they have been conditioned in their journey in business. Insight is everything.

Balancing Financial and Strategic Objectives

While financial returns are a key measure of success, they often take years to materialise. Focusing solely on short-term profits risks overlooking the broader strategic value of CVCs, such as early access to emerging technologies and entry into new markets.

After the event, in a conversation with Professor Dushintsky, I raised the critical point of the disconnect between the timeline to realise the potential of an investment in a promising start-up and the expectation to return cash. Corporately, at least in the US, everything in measured in quarterly data. Yet, the return is not realised for many years for some investments.

REV Venture Partners Tony Askew made the critical point that for a CVC the trickiest and most challenging period for a CVC is the first 6 months.

Corporates are very political, and navigating this environment can be challenging. It is during the first two years of a CVC that they need to be able to create trust and a positive reputation internally. Often overlooked is how they establish their corporate credentials with the people that they don’t meet. Their strategic task is to ensure that the CVC team is good at making investments.

Board-Level Guidance:

• Adopt a Portfolio Approach: Diversify investments across growth stages to balance risk, reward, and exposure to breakthrough innovations. What we are seeing now is some corporates that have multiple CVCs, each with different investment remits and appetite for risk. An approach that is only established when the Board and/or executive understand the value of venturing. 

• Measure Beyond Money: Develop KPIs that reflect strategic outcomes, such as market insights, adoption of innovations, and strengthened competitive positioning. Those KPIs are invaluable at telling a story to a CVC's varied audiences, hence why it is important to know how to present the work that is being done and the value in terms of cash return, IP ownership, etc.

• Be Patient: Financial returns take time. Adopting a long-term perspective enables companies to realise both financial and strategic benefits fully. Equally, CVCs need to ensure that in their communications with the corporate entity and other investors and stakeholders, the positioning gives them the necessary insight and narrative with which they can themselves navigate their own situations.

Cultural Considerations: Navigating Internal and External Challenges

Cultural dynamics — both within the organisation and across regions — play a critical role in CVC's success. For example, US-based CVCs often see faster returns due to a mature venture ecosystem, while European and Asian counterparts face longer timelines due to regulatory and cultural complexities.

Leadership Priorities:

Leaders need to think strategically and:

1. Bridge Organisational Gaps: Establish cross-functional teams that facilitate collaboration between the CVC and the parent business, reducing friction and fostering knowledge exchange.

2. Empower Autonomy: Allow the CVC team to operate independently within the fast-paced start-up ecosystem while maintaining clear and consistent communication with the parent company.

Strategic Communication: The Hidden Catalyst for Success

Speaking to other attendees after the event, the subject of effective communication being a cornerstone of successful CVCs came through.

Building trust and credibility with stakeholders — start-ups, corporate leadership, or external investors — is essential. Without it, even well-funded CVCs can struggle to gain momentum.

Recommendations for Leaders:

Corporate venture capital teams must invest in how they and the start-ups they invest in present themselves. Perception and understanding can both mitigate risk and position a CVC to gather better investment opportunities.

1. Build the CVC’s Reputation: A strong reputation attracts top-tier start-ups and enhances the portfolio’s quality and impact.

2. Engage Stakeholders Transparently: Regular updates and open communication build trust and alignment across both internal and external stakeholders.

3. Establish Thought Leadership: Position the CVC as an innovation leader by publishing high-quality content, participating in key industry forums, and collaborating within innovation networks.

Reaping Dual Rewards: Financial and Strategic Value

The conversations at the London Business School event underscored a powerful truth: the value of CVCs extends far beyond financial returns. Companies with robust CVC strategies can achieve:

• Innovation at Scale: Gain early access to transformative technologies and business models.

• Enhanced Market Positioning: Establish a competitive edge in emerging sectors and accelerate market entry.

• Stronger Reputation: Position your organisation as a forward-thinking, innovative leader.

Next Steps for Leaders:

• Invest in Capability Building: Provide your CVC team with the resources, skills, and autonomy needed for success.

• Commit to Long-Term Support: CVCs need to be treated as a strategic partner rather than a financial asset, adapting their focus as markets evolve.

• Leverage Communications Strategically: Amplify the CVC’s achievements internally and across the market where it needs to operate, align stakeholders, and build its credibility across the venture ecosystem.

A Blueprint for CVC Excellence

Corporate venturing represents a transformative opportunity for companies to innovate, grow, and thrive in an increasingly competitive landscape. However, achieving success demands more than funding — it requires strategic alignment, cultural integration, and effective strategic communications.

The imperative for boards and C-suite leaders is clear: think long-term, empower your CVC teams, and communicate effectively. Leave them to do what they are great at doing, regardless of the external expectations that affect the corporate. By embracing these principles, businesses can unlock the full potential of corporate venturing — delivering both financial performance and strategic growth for the future.