Topic: Corporate Social Justice

Sticks and stones may break my bones, but words will never hurt me. Or...will they?

Leadership is challenging in the best of times. Now, faced with a prolonged pandemic, an economic downturn, nationwide social justice protests, and unprecedented political divisiveness, even the most sophisticated brand leaders are struggling to navigate turbulent waters.

The choice seems like an easy one. Stand up for what you believe in. Commit to your brand values and demonstrate them in your actions, not just your words.

Brands have traditionally steered away from politics for the same reasons you don’t get into it with your angry uncle at Thanksgiving. No matter which side you land on, discussing politics will always alienate someone—a risk most brands aren’t willing to take. Until now.

Every year, Nielsen takes a measured look at corporate social responsibility initiatives to see if they change the way organizations perform, both in reputation and with increased sales. What they find, year-after-year, is that consumers are willing to pay extra for products and services from companies that support their same values. 

In 1970, Milton Friedman, an American economist who won a Nobel Peace Prize, famously said, “There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.”