Brain injuries in American football teach us to go big with materiality.
Concussion, a 2014 bestseller and 2015 major motion picture, chronicled Dr. Bennet Omalu’s research on debilitation from severe or repeated blows to the head. He called attention to the responsibility organizations have to address brain injuries. He challenged the status quo.
Materiality is more than a check-box exercise. More than a 2×2 map in a glossy annual report.
Good materiality involves rigorous analysis, thoughtful stakeholder engagement, and prioritization of issues.
Excellent materiality goes further – it takes on sensitive topics. It throws the status quo out the window.
Nike’s materiality assessment looked at the entire value chain. This helped Nike reaffirm its focus on sustainable materials, an area it significantly influences and sees as inextricably linked to product innovation and revenue generation. Nike now plans to double its business with half the impact by challenging business-as-usual models and innovating toward a low-carbon, closed-loop future.
Gap Inc. identified wage inequality as a key material issue. In 2014, it became the first Fortune 500 company to announce equal pay for equal work. Rather than waiting another 43 years to close the gap, Gap Inc. took action.
Nike and Gap Inc. are no longer shying away from the biggest issues of our day. They are embracing the elephant in the room to improve their business and catalyze real change in the world.
In Concussion, the elephant in the room was brain injury.
For you, the elephant in the room may be climate change, executive pay, living wage, human trafficking, LGBT rights, or resource scarcity.
Look at your materiality assessment. When you do, don’t ignore the elephant in the room. Embrace it. Challenge the status quo. Go big. Change the world.