It is no coincidence that when I succeeded in business, it was often because I engaged effectively and sustainably with the world outside the corporation, and when I failed, it was usually because I got this wrong. Research by McKinsey shows that, on average, 30% of corporate earnings are at stake when it comes to a company’s relationships with society. Indeed, when the news broke that Volkswagen had been accused of cheating emissions standards tests last year, its share price fell by almost 35% in the next two days of trading.