A study of corporate affairs strategies, structures and operations in times of uncertainty.
 

Our 2022 research revealed Corporate Affairs (CA) as a function that has been tested to navigate storms, that is trusted by their leadership and that is transforming into a multi-disciplinary and value-focused asset.

In the two years since this research, global events spanning geopolitics, conflict, trade and supply chain disruption alongside the impact of transformative technologies, has placed greater expectations and demands on CA.

The risks and opportunities presented by a changing external world raises new questions for the modern CA function as it is asked to navigate risk, retain trust and protect an organisation’s licence to operate and grow.

Reflecting this, our research asked:

• How are CA functions dealing with disruption and navigating emerging risks?
• Are CA teams adopting transformative technology?
• What is the role of the CEO and Chair in corporate affairs?
• How are the core strategies, structures and capabilities of the function evolving as companies strive for growth in uncertainty?

Our fieldwork for this research comprised in-depth interviews with 58 corporate affairs directors spanning 7 countries from FTSE 100, Fortune 500 and Euronext 100 companies during January 2024 to May 2024.

Insights from our research:

• Geopolitics and geopolitical uncertainty is the No 1 risk identified by corporate affairs directors
• 57% of CA Directors described their technological maturity as 'basic'
• 73% of CA Directors formally sit on the Executive Committee (up 7% on 2022 research)
•  94% of CA Directors rate their CEO's value of their work as 4 or 5 out of 5

Future of corporate affairs:

• Reputation is the highest priority for 2024, followed by people and culture change
• Data & Insights remain the most desirable future competency to strengthen within CA teams
• Two thirds of CA directors are now using AI for the development of content for communications, however much of AI's potential in CA remains untapped across industries
  

The foundations of today’s CA function: From our research the picture emerges of a function of significant size, scale and resources with extensive responsibilities and a complex organisational environment to deliver through.

With that in mind, we set out what we believe are the four foundations of corporate affairs as a framework for leaders to assess and strengthen their maturity:

• Architect: Architecting the right structure and strategy to win
• Orchestrator: Orchestrating corporate affairs operations for business impact
• Steward: Steering the organisation through risk and transformation
• Ambassador: Championing for the business and the function

We hope that this report provides a helpful guide to better understanding the evolution of this unique function, its leaders and its future in these interesting and challenging times.