To Take a Stand or Not

11/14/2019 Unknown 0 Comments

Today, most consumers won't invest in a brand unless it's somehow helping to better the world and taking on corporate social responsibility (CSR). Yes, brands should take a stand, but deciding which issues are just as important. Businesses should ideally be beyond maximizing profits for shareholders, making decisions for moral reasons that benefit their employees, communities, and the environment.

For example, SoulCycle's Stephen Ross contributing to a campaign for President Trump and Apple's Tim Cook publicly announcing the ban against the North Carolina transgender bathroom bill are more than political statements — they're defining the company's culture and values. But while boycotting a brand can be effective, most times it hurts a company's reputation more than it does their finances.

In this piece, Brayden King, a professor of management and organizations at Kellogg, offers advice for how companies can continue to engage with their customers and their communities, while minimizing the risk of backlash.

Read the full article here: