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Franz Paasche is a staunch proponent of companies expanding their targets of their outreach and efforts, driven by the idea that stakeholder engagement is key to businesses’ success. “The challenges and opportunities facing the world today require companies to consider impact and engagement across all primary stakeholder groups – in PayPal’s case these are employees, customers, regulators and shareholders. These audiences are looking to companies that have prioritized purpose as a business imperative, as well as leaders who are using their social capital and influence to address societal issues and make a difference,” he wrote in an article published in PRovoke Media. In turn, Paasche has driven the company’s communications in ways that reflect the changing dynamics, evolving the function to serve the company in this new multi-stakeholder environment.
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