Companies and CEOs are increasingly expected by their audiences to stand up for their values. The Milton Friedman view that the sole purpose of a company is to make money for shareholders, and with it the idea that companies can be separate from the currents of society, has been replaced by the Michael Porter and Mark Kramer view that a company needs to create shared value for society. Having supported LGBTQ marriage and other social issues, companies have to do what their audiences believe is right. Although, as Andrew Ross Sorkin wrote in the NYTimes about Charlottesville, some are fearful of Presidential wrath, the risk of silence is greater.
by Simon Erskine Locke, Founder & CEO, CommunicationsMatch