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Just as RBC has a business vision that gives direction to our strategy and goals, we also have a social vision that guides our approach to corporate social responsibility. RBC’s social vision articulates our goal of helping build successful, thriving communities wherever we operate: “building prosperity together.” “Prosperity.” Mention the word to 10 people and you’ll get 10 different definitions. Most would say the word means “economic well-being.” That’s certainly what you’d think if you heard the word from someone like me in the financial services industry. But the word “prosperity” also has a broader definition: it also means “being successful or thriving.” Just as RBC Financial Group has a business vision that gives direction to our strategy and goals, we also have a social vision that guides our approach to corporate social responsibility. RBC’s social vision, “building prosperity together,” rests upon that broader definition of prosperity, because our goal is to help build successful, thriving communities wherever we operate. The articulation of our social vision may be new, but the actions underlying it have been constant at RBC throughout our 135-year history. As such, we pledge to continue building prosperity together by:
Another important word in our social vision is “together.” No one, not a company or a government, nor an individual or not-for-profit group, can build a prosperous, healthy community alone. It’s a shared responsibility. RBC believes that working partnerships are the best possible way to create lasting change at a community level. Our 2003 Corporate Responsibility Report and Public Accountability Statement highlights some of the partnerships in which we’re involved that help contribute to the economic development of communities. As in past years, our Report reviews how RBC employees contribute to their communities, how RBC supports causes such as arts, athletics and health care, and how we provide services to clients with special needs. But you’ll also see how we support the financial well-being of our clients and communities by our focus on education and learning, two of our key interest areas. After all, prosperity depends on well-developed minds – achieved through fostering intelligence, imagination, ingenuity and innovation. It is in our interest as a company, and especially as a financial services company, to nurture knowledgeable employees and help develop community infrastructures that enable innovation. One important role a financial services company must play is to support the small business sector. RBC Royal Bank continues to be a leader in supporting small business. But it takes more than just products and services to maintain this leadership role. It takes the extra effort put in by knowledgeable staff across the country who work to educate current and would-be entrepreneurs, who champion women entrepreneurs, and who support the growing number of young entrepreneurs. We live in a global marketplace, where the ability to create and commercialize ideas is a critical determinant of economic success. To be successful, partners from all sectors need to create a culture of excellence through education, innovation and business leadership. And we need to find ways to capitalize on our competitive advantages. In 2003, RBC released Managing for Growth, a major study into the skills needed by entrepreneurs to manage growth and build successful enterprises that can compete in the global marketplace of the 21st century. This followed our 2002 Path to Prosperity report, which examined external barriers to small business growth. As one of Canada’s largest corporations, we take social responsibility seriously. We are very proud to have received awards and recognition from many groups for our leadership in corporate responsibility and governance, including the prestigious “Canada’s Most Respected Corporation” ranking, from the accounting firm KPMG in partnership with Ipsos-Reid and The Globe and Mail newspaper. But we also know that “responsibility” is a journey, not a destination: so we continue to look at ways to improve our performance as a good corporate citizen while producing sound and sustainable financial results for our stakeholders. I invite you to read our 2003 Corporate Responsibility Report and Public Accountability Statement, or to browse through the areas you’re interested in. Please visit our Web site for more information and to give us your feedback. Gordon M. Nixon
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