An integrated report is built around seven elements that define its content and communicate the organization's unique value-creation story. According to the CD these elements are organizational overview. and external environment, governance. Opportunities and risks, strategy and resource allocation, business model. performance, and future outlook (see Exhibit (1.1). By linking contents across these elements, an integrated report can build the story of the business from a basic description of the business model through the external factors affecting the business and management's strategy for dealing with them and developing the business. This provides a foundation from which to discuss the performance, prospects, and governance of the business in a way that focuses on its most important aspects.