Reset business and society inthe NEw social landscape

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RESET Business and Society in the New Social Landscape JAMES RUBIN and BARIE CARMICHAEL RESET Columbia University Press Publishers Since 1893 New York Chichester, West Sussex cup.columbia.edu Copyright © 2018 Columbia University Press All rights reserved Library of Congress Cataloging-in-Publication Data Names: Rubin, James R., 1968- author | Carmichael, Barie, author Title: Reset : business and society in the new social landscape / James Rubin and Barie Carmichael Description: New York : Columbia University Press, [2017] | Includes index Identifiers: LCCN 2017031578 (print) | LCCN 2017051062 (ebook) | ISBN 9780231545907 | ISBN 9780231178242 (alk paper) Subjects: LCSH: Organizational change | Industries—Social aspects Classification: LCC HD58.8 (ebook) | LCC HD58.8 R825 2017 (print) | DDC 658.4/062—dc23 LC record available at https://lccn.loc.gov/2017031578 Columbia University Press books are printed on permanent and durable acid-free paper Printed in the United States of America Cover design: Noah Arlow CONTENTS Foreword vii Editor’s Note xvii INTRODUCTION 1 THE BUSINESS TRUST–EXPECTATIONS GAP CLOSING THE GAP IN THE NEW SOCIAL LANDSCAPE 35 INHERENT NEGATIVES: MANAGING RISK AND REPUTATION 69 CORPORATE CHARACTER 107 THE NEW CORPORATE BRANDING REPUTATION LOST AND FOUND RESETTING THE SWEET SPOT Notes 213 Index 235 131 161 193 13 FOREWORD ROGER BOLTON I n Reset, James Rubin and Barie Carmichael crystallize the significance of megatrends converging into a profoundly new social ecosystem that is changing the public’s view of the role of business in society The informal social compact between business and society that was accepted in the twentieth century is no longer sufficient The authors offer a penetrating analysis of the challenges corporations face today, tracing the converging trends in pop culture, workforce demographics, media, business reporting, and large-scale issues that have dramatically transformed the social landscape in which business governance, strategy, and communication now operate The result is a dichotomy of declining trust in and rising expectations of business Empowered by today’s transformative level of instantaneous communication, an activist public exercises unprecedented pressure to hold corporations accountable for their behavior Rubin and Carmichael document the global phenomenon of the public’s growing expectation that business must not only FOREWORD mitigate its negative social impact, but also address pressing societal needs, made more urgent in an era when governments and political leaders have become unwilling or less able to serve the public good Since the beginning of the industrial revolution, public opinion has significantly shaped the sociopolitical environment in which ever-larger and more important corporations seek to operate Arthur W Page, considered to be the first senior corporate public relations executive, observed in a 1939 speech on industrial statesmanship, “All business begins with public permission and exists by public approval.” He explained, “The public permission takes the form of charters, licenses and legal authorizations of one kind or another Public approval is generally represented by reasonable profits, reasonable freedom of action and a few kind words A lack of public approval is expressed in a good many ways—laws, regulations, commission rulings, investigations, public hostility and most vital of all, by a lack of patronage.”1 During the twentieth century, Page’s observation played out in several waves of government regulation in response to public concerns about and distrust of business, with antitrust regulation early in the century; a significant increase in government involvement in the economy through the New Deal following the Great Depression; and the environmental, health, and occupational safety laws in the sixties and seventies As the century came to an end and a new one dawned, corporate scandals led to the Sarbanes-Oxley rules in 2002, and the global market crash led to the Dodd-Frank financial regulation in 2008 Q viii Q FOREWORD Throughout the century, a debate about the responsibility of business to society raged, with some (notably Milton Friedman) arguing that business’s only responsibility is to deliver a profit to its shareholders and others maintaining that business has a responsibility to create value for a broader set of stakeholders—including society at large Throughout this period, as government regulation increased and the responsibility of business was debated, an informal social contract emerged between business and the public Business was expected to produce quality products and services at reasonable prices, to provide steady employment in a healthy and safe environment, and to support community institutions.2 This insightful volume of analysis and recommendations arrives at a critical moment: Corporations the world over are struggling to understand and cope with the demise of the twentieth-century social compact; the risks associated with stakeholder activism; and the simultaneous rising demands and opportunities for business to create real economic and social value that goes beyond its traditional stakeholder group of shareowners, customers, and employees The corporate social responsibility movement, which initially saw businesses seeking to conduct their affairs in socially responsible ways, is evolving into an era of conscious capitalism3 or shared value,4 in which businesses are expected to create not just customer and shareholder value, but societal value, as well After thoroughly and persuasively documenting the new social landscape for business, Rubin and Carmichael make a bold observation: success in this challenging environment requires businesses to reset the sweet spot Historically, Q ix Q INDEX consumers: activism, 33; carbon footprint and habits of, 151 consumption, of information, 19 controversy, with media revenue, 74 Cook, Tim, 206 Corning Incorporated, 176 corn syrup, high-fructose, 78 corporate behavior See behavior corporate branding See branding, corporate corporate character See character, corporate corporate culture, 59 corporate identity See identity, corporate Corporation 2020 (Sukhdev), 202 corporations: B Corporations, 144–45, 157, 209; benefit, 144–45; blind spots, 81–86; with bubble, breaking out of, 170–71; CEOs and leadership, 11; with consumer activism, 33; narrative with business trustexpectations gap, 30–33; role of, 5; scandals, 37, 135, 154; social media within, 59; social responsibility and, 6–8, 16, 217n17; triplebottom-line reporting and, Q 217n17; virtual reality and, 35–36 cosmetics, 101 Costner, Kevin, costs See prices cover-ups, 67 Crane, Andrew, 79 “Creating Shared Value” (Porter and Kramer), 75–79 credo, Johnson and Johnson, 116–17 crises: breast implants, Dow Corning, 176–84; Intel Pentium, 1, 2, 4, 89; lessons learned, 184–86; managedcare insurance, 168–75; management, 75, 81–86, 165–66; responsibility and management control with, 75, 81–86 See also oil crises crowdsourced rankings, of reputations, 162–66 CTE See chronic traumatic encephalopathy culture: with brands, iconic, 25; transparency and corporate, 59; with vision and image, 135–36 CVS Pharmacy, 54–55 Danone, 156–57 DanoneWave, 145 Daraprim, 44 240 Q INDEX Darden Graduate Business School, UVA, 4, 167 See also Champion Brands Dasani, 147 Davis, Lorna, 156, 157 Davis, Scott, 118 Deepwater Horizon oil spill, BP and, 6–7, 23–24, 40, 53–54 deforestation, 150 Dell, 161 Dell, Michael, 161 Deloitte, 94, 122 Deming Prize, 56 democracy, fake news and, 120 De Tocqueville, Alexis, 20 Diageo, 102–3 disease, 37, 127, 153, 177, 179, 230n9 See also obesity DNA, of corporate branding, 132–36 Dow Chemical Company, 176 Dow Corning, 11, 167, 175; with actions, constructive, 180–82; breast implants and, 90, 176–84; FDA on breast implants by, 230n9 Dow Jones, 25, 61 See also stocks “DrawSomething” app, drought, 83–84, 152 dry shampoo, 151–52 duBrowa, Corey, 46 Q E coli, 196 ecomagination, GE and, 17–18, 207 economic ecosystem, 207–8 economy, 26, 28, 133, 168 See also prices education, 42, 123 EKOCENTER, Coca-Cola, 146 elections See presidential election, U.S emotions, attachment, 59–61, 73, 80, 175 employees: authenticity with, 58; blogs, 119; competition for next-generation, 122–24; corporate character and, 108–10, 116–24, 138; corporate identity and, 49, 58–59; with education programs, higher, 123; promoted upward, 65–66; as stakeholders, 118–21; stocks, 158; trust of, 153, 184 Environmental Protection Agency, 37, 64 environments, corporate identity and, 111, 113 EpiPen See Mylan, EpiPen and ethics, in media, 29, 30 “European View on Corporate Identity, A: An Interview with Wally Olins” (Schultz, M., and Hatch), 116 241 Q INDEX expectations: of stakeholders aligned with corporate behavior, 56–57, 73, 80–86, 139–40, 175 See also business trust-expectations gap experience: economy, 133; trust with action and personal, 46–48 Facebook, 61, 201; activism and, 50; business model, 73–74, 97; corporate character, 120–21; fake news on, 96–97, 120–21, 167, 174; hate speech on, 103–4; with inherent negatives and risk management, 95–97; news, 28; Online Civil Courage Initiative, 104; users, number of, 3, Fahrenthold, David, 38 fair-trade coffee, 56–57 fake news, 87; advertisements and, 97–98; on Facebook, 96–97, 120–21, 167, 174; U.S presidential election (2016) and, 89, 96–98, 120–21 Farook, Syed Rizwan, 61 fats, trans, 78 FBI, 61, 96 Federal Communications Commission (FCC), 28 Federal Reserve, 123 Q financial crash (2008), 28 Financial Times, First Amendment, 103 Fish, James, 93 Flickr, Flint, Michigan, 84–85 Fombrun, Charles, 162 food: coffee, fair-trade, 56–57; safety, 4; scarcity, 149–50, 153 Food and Allergy Research and Education, 42 Food and Drug Administration, 177 food companies, 138; with antibiotics in poultry, 101–2; E coli and, 196; employee stocks and, 158; with inherent negatives and risk management, 81–86; shared value of, 78–79; sustainability and, 150–51; virtuous circle with, 114–15 See also alcohol Forbes, 93 Ford, 25, 147 Fortune, 114, 162–63, 178 401K stock portfolios, 6, 28 “four walls,” thinking outside of, 199–201 France, 22, 104 Franklin, Ben, 26 Frontline, 178 fructose, 78 242 Q INDEX Fukushima nuclear disaster, 22 Fusion/Gizmodo, 32 groundwater, 99 Grove, Andy, 1, 202, 206 Galbraith, John Kenneth, 19–20 Gallup World Poll, 13, 15 Gates, Bill, 20 General Electric (GE), 17–18, 25, 110, 207 General Motors, scandal and, 37 Generation Z, 122 Germany, hate speech in, 103, 104 Ghosn, Carlos, 60 Glassdoor, 138 Glass–Steagall Act, 20 globalization, 26, 114, 208 Global Reporting Initiative, 95 global warming, 4, 21 GlobeScan, 152 Glossier, 134 Goodlatte, Bobby, 120 goodwill, 204–6 Google, 61, 95, 196, 201; advertisements on, 137; business model, 73–74, 97; corporate character, 121; fake news on, 174; visual identity of, 110 Gowing, Nik, 197, 202 Great Depression, 26, 168 Great Place to Work, 138 Green, Logan, 190–91 greenhouse gas emissions, 150 Greenpeace, 2, 71 Habermas, Jürgen, 48 habits, with carbon footprint, 151 Halliburton, 40 “hall pass,” for corporate character, 61 Happy Family Brands, 156–57 Harvard Business Review, 75, 158 Hatch, Mary Jo, 116, 135 hate speech, 103–4 Haywood, Trent, 200 Hazleton, Richard, 183 health maintenance organizations (HMOs), 169 Healy, Bernadine, 178 Hempel, Jessi, 172 Hess, Edward, 49 High Court of Bombay, 85–86 HIV/AIDS, 127 HMOs See health maintenance organizations Hoffman, Dustin, 23 Holiday Inn Express, 113 Holt, Douglas, 25 Honda, 135 How Brands Become Icons (Holt), 25 How to Succeed in Business Without Really Trying (film), 26 Q 243 Q INDEX Huang, Chieh, 123 Huffington Post, 32 IBM, 25, 36, 108–9, 199, 207 identity: vectors, 111–14; visual, 110 identity, corporate, 116; corporate character from, 110, 111–14; defined, 58; employees and, 49, 58–59; vectors of, 111–14 iFixit, 128 Ikea, 58 image, with vision and culture, 135–36 Immelt, Jeff, 17–18, 207–8, 210 immigrants, 204 Ind, Nicholas, 58 Indeed, 138 India, 17, 79, 85–86, 89, 99 Indonesia, 150 Industrial Revolution, 20 infant formula, Nestlé, 82–83 inflection point, 1, information: consumption, 19; dissemination, speed of, 1–4, 86–87, 154, 186–87; misinformation, 97; negative, ingredients, 100–101 inherent negatives, 9; action with, 92; apparel industry with, 64; BP with Deepwater oil spill, 53–54; defined, 72; Q with flip side, embedded, 75–79; managed-care business model, 170–71; with Mylan and EpiPen, 53; unidentified, 52 inherent negatives, risk management and: addressing, 98–105; anticipating, 90–93; codependency and, 77–81; with control of and responsibility in crises, 81–86; Facebook and, 95–97; NTRs, 71, 90; probability and, 69; with recognition in advance, 86–90; shared value and, 75–79; with stakeholder impact embedded, 72–75, 93–98; UPS and, 72–73, 93–95; wakeup call for business, 70–71 inherent vice, 52, 69, 80 Instagram, 110 Institute for Crisis Management, 75, 165 Institute for Public Relations, 122 Institute of Medicine, 183 Intel Pentium crisis, 1, 2, 4, 89 International Nestlé Boycott Committee, 82 investigative journalism, 32, 38, 165 iPhones, 27, 61, 195 244 Q INDEX landscape See social landscape Langdon, Chris, 197, 202 Latin America, 150 lawsuits: Aetna and class action, 171–73; Dow Corning and breast implants, 177–78 leadership: CCOs, 166; CEOs, 11, 107–8, 119–20, 128; with mindset, new executive, 197–99; thought platform, 138–39; with trust, 11, 119–20 League of Denial, 37 Leffin, Steve, 95 Lego, corporate character, 124–25, 225n18 Lever, James, 153 Lever, William, 153, 155 Levi’s, 205 Lewinsky, Monica, 29 Lincoln, Abraham, 107, 114 LinkedIn, 109 L.L.Bean, 111–13, 143 L’Oréal, 101 Los Angeles Times, 29, 165 Lyft, 190–91, 200 lymphoma, 179, 230n9 IRA, 5–6, 28 “I,” we instead of, 202–4 James, Erika Hayes, 75 Japan, 22 Jenner, Kendall, 187 Jobs, Steve, 195, 206 Johnson and Johnson, 116–17 Jones, Leslie, 104 Jonson, Robert Wood, 116–17 journalism: citizen, 38; investigative, 32, 38, 165; news, 28, 30, 35, 87; print, 29–32 Kalanick, Travis, 188 Kantayya, Mellini, 42, 50 Kennedy, John F., 29 Kent, Muhtar, 145, 203 Kessler, David, 177 Keynes, John Maynard, 194 Klein, Naomi, 100–101 Koch, Greg, 146 Kraft Heinz, 147, 197 Kramer, Mark, 9, 75–79 Kryptonite, 67–68 labor: apparel industry, 64, 125; cocoa farmers, 78; fair-trade coffee and, 56–57; salaries, 123; Whole Foods with, 115 landfills, clothing in, 64 Landor, 110 Maas, Heiko, 103 MacLennan, David, 204 MADD See Mothers Against Drunk Driving Mad Men (television show), 26, 86 Q 245 Q INDEX Maggi noodles, Nestlé with, 85–86, 89 Malaysia, 150 Malcolm Baldrige National Quality Award, 56 Malik, Om, 201 Malik, Tashfeen, 61 malnutrition, 153 managed-care insurance, crisis, 168–75 management, 72, 79; control and responsibility with crises, 75, 81–86; reputations, 186–87 See also inherent negatives, risk management and; Waste Management, Inc Man in the Gray Flannel Suit, The (Wilson), 26 Marcario, Rose, 128, 129 market-based boycotts, 100–101 marketing, as outdated, 137 Mars, 204 Matten, Dirk, 79 Maybelline, 101 Mayo Clinic, 183 McDonald’s, plastics and, 23 McKennon, Keith, 178–80, 181, 182, 186 McKinnon, Kate, media: business trustexpectations gap and, 16, 27–30; with cable television, Q rise of, 28–29; changes in, 9, 19; with decline in trust, 15; ethics in, 29, 30; journalism and, 28–32, 35, 38, 87, 165; with news cycle, 1–2, 90; public service programming and, 28; Pulitzer Prize and, 32, 38; revenue with controversy, 74; role of, 24 See also social media Medicaid, 43 Memorial Sloan Kettering Cancer Center, 36 Merck, 41 Michigan, Nestlé in, 84–85 millennials, 122–23, 199 Mintzberg, Henry, 88 misinformation, 97 See also fake news Mothers Against Drunk Driving (MADD), 102 multiplier effect, 50, 193 Musk, Elon, 203–4 Muslims, 188, 189, 190, 191 Mylan, EpiPen and: generic version of, 55; inherent negatives with, 53; pricing controversy, 41–45, 50–51 Napster, 195 National Football League, scandal and, 37, 135 National Geographic, 37–38 246 Q INDEX Nazis, 143 NBC, 28 negatives: information, 4; visibility and social media, 38 See also inherent negatives Nestlé, 204; boycotts, 82–84; infant formula, 82–83; inherent negatives and, 81–82; with Maggi noodles, 85–86, 89; with water, 82–85 New Balance, 143 news: business, 30; cycle, speed of, 1–2, 90; Facebook, 28; virtual reality and, 35 See also fake news; journalism newspapers, 29, 87 New York International Auto Show, 66–67 New York Times, 29, 32, 35, 178 Nicely, Thomas, Nike: with attachment in advertising, 60; corporate character, 125–26; labor practices, 64 Nissan, 8, 59–60, 66–67 No Logo (Klein), 100–101 non-technical risks (NTRs), 71, 90 Nooyi, Indra, 97–98, 148, 149 Novo Nordisk, 8, 127 NTRs See non-technical risks nuclear energy industry, 21–22 Q Obama, Barack, 21–22, 206 obesity, 4, 21, 73, 147–48 O’Brien, Robyn, 50 Odwalla, 196 Official Preppy Handbook, The, 112 oil crises: Shell with Brent Spar, 2, 4, 71; spill, Deepwater Horizon and BP, 6–7, 23–24, 40, 53–54 Olins, Wally, 111, 113, 114, 116 On Brand (Olins), 114 Online Civil Courage Initiative, Facebook, 104 On-Road Integrated Optimization and Navigation (ORION) technology, 94 opinions, speed of thought and, 31 Oracle, 108–9, 199 ORION technology See On-Road Integrated Optimization and Navigation technology Owning Up: The 14 Questions Every Board Member Needs to Ask (Charan), 70, 91–92 Oxfam, 144 Page, Steve, 161 palm oil, 150–51, 153 paper, or plastic, 23 247 Q INDEX Paris Climate Agreement, 203 Partnership for a Healthier America, 204 Patagonia, 145, 210; corporate character, 128–29; “Reason for Being” statement, 63–64 Pence, Mike, 142 Pentium Chip, Intel, 1, 2, 4, 89 PepsiCo, 97–98, 148–49, 187, 189, 204 personal experience, trust with action and, 46–48 Petition2Congress.com, 42, 50 PET plastic bottle See polyethylene terephthalate plastic bottle Pew Research Center, 28 pharmaceuticals, 21 philanthropy, as business strategy, 37–38 phthalates, 101 “Plan B,” for capitalism, 154–55 PlantBottle technology, 147 plastics, 23, 147 Pokémon Go, Polisner, George, 109 Politico, 32 politics: “Brexit,” 15; corporate branding and, 142–43; U.S presidential election (2016), 15, 38, 89, 95–98, 120–21, 143, 164 pollution, 4, 21, 64 Q Polman, Paul, 128, 149–50, 153 polyethylene terephthalate (PET) plastic bottle, 147 Popik, William, 173–74 Porter, Michael, 9, 75–79 poultry, antibiotics in, 101–2 presidential election, U.S (2016), 143, 164; controversy with, 38, 95; fake news and, 89, 96–98, 120–21; trust and, 15 prices: Mylan and EpiPen, 41–45, 50–51; ridesharing, 190; Whole Foods, 114–15 print journalism: ethics in, 29; social media and, 30–32 probability, risk and, 69 products and services: corporate branding and, 133–34; corporate identity and, 111–13 protests: boycotts, 82–84, 100–101, 143; against Muslim travel ban, 188; Petition2Congress.com, 42, 50; against Shell, public, 122; advertisements to sway opinion of, 23–24; business trust-expectations gap and awareness of, 14–17, 18; love/hate relationship with business, 19–21, 61; reputations, crowdsourced ratings and rankings of, 248 Q INDEX 162–66; with reputations, crowdsourced ratings and rankings of, 162–66 Public Affairs Council, Pulse Survey, 15, 16 public institutions, with decline in trust, 13–14 public service programming, 28 public space, social media as virtual, 48, 136 Pulitzer Prize, media and, 32, 38 Pulse Survey, Public Affairs Council, 15, 16 purchasing behavior, activism with, 16–17 Pure Life, Nestlé with, 83 quality, 56 La Quinta, 164 racism, 143, 188, 189 radio, Rambler, The (newspaper), 48 ratings, reputations and crowdsourced, 162–66 “Reason for Being” statement (Patagonia), 63–64 Reddit, 28 Reebok, 125 reputation quotient, 162 reputations: Aetna, 168–75; case studies, 166–68; crowdsourced ratings and rankings of, 162–66; Dow Corning, 176–84; with lessons learned, 184–86; management, 186–87; in social context, 188–91; trust and, 161 resignation letters, 109–10 resources, depletion of, 98 responsibility: crises with management control and, 75, 81–86; social, 6–8, 16, 76–77, 80, 217n7 Revlon, 101 risks, 58; without advocacy, shared, 153–54; of complacency, 194–97; mitigation and brand building, See also inherent negatives, risk management and Ritz-Carlton, 113 Rometty, Ginni, 108–9, 207 Romper Room (television show), 28 Rowe, John, 170–71, 173, 179, 181, 186 Royal Dutch Shell See Shell Sabermetrics, 195 salaries, 123 sales, tobacco, 54 Salesforce, 104 saline gel breast implants, 230n9 San Bernardino National Forest, 83 Q 249 Q INDEX Saturday Night Live (television show), Scandal (television show), 166 scandals, corporate, 37, 135, 154 See also Mylan, EpiPen and; oil crises Schultz, Howard, 128 Schultz, Majken, 116, 135 scleroderma, with breast implants, 177 self, society and, 145–49 services See products and services SGS, 94–95 shampoo, dry, 151–52 shared value: business trustexpectations gap and, 75–79; problem with, 79; social responsibility and, 80 Shell (Royal Dutch Shell): NTRs and, 71, 90; oil crisis with Brent Spar, 2, 4, 71 Shkreli, Martin, 44 silicone gel breast implants, 90, 230n9 “Silicon Valley Has an Empathy Vacuum” (Malik, O.), 201 “slingshot” technology, water and, 146 small and medium-sized enterprises (SMEs), 155–59 Smarter Planet, IBM and, 207 smartphones, 36–38 See also iPhones Q SMEs See small and mediumsized enterprises Smith, N Craig, 155–56, 157–58 Snapchat, 110 social change, businesses as force for, 143–45 social landscape: with action and personal experience, 46–48; attachment and, 59–61, 73, 80; authenticity and transparency with, 57–59, 73; business guard rails and, 39–41; business trust-expectations gap and, 24–27, 55–57; business with, 3–4, 11–12; communication and, 35–36; communities and, 3; marketing as outdated in, 137; navigating, 8–10; pricing controversies and, 41–45, 50; smartphones and, 36–38; stakebrokers and, 49–51; stakeholder blind spots and, 52–55; stakeholder impact and business model with, 48–55, 82–84 social media: activism and, 42–43, 50–51, 109; as agent of change, 6–7, 185–86, 200–201; business and, 5–6, 42–45, 67–68, 73–74; business model, 73–74, 97; 250 Q INDEX business trust-expectations gap and, 16; citizen journalism and, 38; within corporations, 59; fake news on, 96–97, 120–21, 167, 174; hate speech on, 103–4; negative visibility and, 38; news, 28; print journalism with, 30–32; as public space, virtual, 48, 136; ratings on, 163–64; role of, 3, 19, 30–31, 36, 110; stakeholders on, 67–68, 71 social responsibility: corporations and, 6–8, 16, 217n17; shared value and, 76–77, 80 society, 167; business and, 4–5, 16, 55, 193; reputations in context of, 188–91; self and, 145–49 Solar, Larry, 204 South Africa, 127, 152 Spectator, The (newspaper), 48 speed: of action, 80, 81–82; of engagement for apps, 3; of information dissemination, 1–4, 86–87, 154, 186–87; of news cycle, 1–2, 90 speed of thought: communities forming at, 2–4, 11; opinions forming at, 31 spirits trade, 102–3 sports, 37, 135 Q Spotlight (film), 32 stakebrokers, activism by, 49–51 stakeholders: alignment corporate behavior and expectations of, 56–57, 73, 80–86, 139–40, 175; as auditors of corporate character, 116, 119–20; blind spots, 52–55; business model and impact of, 48–55, 82–84; corporate character and employee, 118–21; risks and embedded impact of, 72–75, 93–98; on social media, 67–68, 71; theory, 49; web-enabled, 56 Starbucks, 56–57, 83, 123, 128 Stay Woke: The Black Lives Matter Movement (television documentary), 187 Steiner, David, 92–93 Stillman, Robert, 169 stocks: Aetna, 172; employees, 158; 401K portfolios, 6, 28; Intel, 1; Pepsi, 98; Unilever, 153; Whole Foods, 115 See also Dow Jones “strategic inflection point,” Sukhdev, Pavan, 202 Super 8, 164 supply chain management, global, 72 251 Q INDEX sustainability, 22; in apparel industry, 65; corporate branding and, 145–47, 150–51; corporate branding with solutions for, 149–55 Taleb, Nassim Nicholas, 194–95 technology, 161; NTRs, 71, 90; ORION, 94; PlantBottle, 147; water and “slingshot,” 146; Wi-Fi, 105, 197 television, terrorism, 61 Texas, 142 Thinking the Unthinkable (Gowing and Langdon), 197 third-party validation, 100 thought: artificial intelligence, 36; leadership platform, 138–39; outside of “four walls,” 199–201; speed of, 2–4, 11, 31 Three Mile Island, 22 Title Nine, 126 tobacco, 54, 86, 102, 149 Tom’s of Maine, 156 Toms Shoes, 144 Toyota, 67, 134–35 trans fats, 78 Transocean, 40 transparency: authenticity withstanding, 57–59, 73; Q trust and, 11, 164–65 See also auditors, of corporate character travel bans, 188, 189, 190, 191 triple-bottom-line reporting, 217n17 Trump, Donald, 20, 32, 189, 191, 206; fake news and, 96, 97–98, 120; as polarizing figure, 108–9, 143, 203; U.S presidential election (2016) and, 15, 38, 89, 95–98, 120–21, 143, 164 Trump, Ivanka, 164 Trump Foundation, 38 trust: with action and personal experience, 46–48; of employees, 153, 184; with information, negative, 4; leadership with, 11, 119–20; legacy of low, 21–24; public institutions with decline in, 13–14; reputations and, 161; transparency and, 11, 164–65 See also business trust-expectations gap TruthFeed, 97–98 Turner, Ted, 30 Twitter, 28, 61; activism and, 50, 109; BP satirized on, 7; business model, 73–74; citizen journalism and, 38; Facebook criticized on, 96; hate speech on, 103–4 252 Q INDEX Uber, 188–90, 201 UCLA, 164 Ulukaya, Hamdi, 157, 158 Under Armour, 125 Unilever, 128, 210; with Ben and Jerry’s Homemade, 156; corporate branding and, 149–53 Union Carbide, 39–40 United Airlines, 200–201 United Kingdom, 15, 104 United Nations Environment Programme, 98 United States (U.S.), 14, 103; activism in, 17; presidential election (2016), 15, 38, 89, 95–98, 120–21, 143, 164 United Technologies, 161 United Way, 37 University of Virginia (UVA), 4, 167 UPS, 8, 65–66; corporate character and, 117–18; with inherent negatives and risk management, 72–73, 93–95; ORION technology and, 94; stakeholder impact and, 72–73 Urban Dictionary, 115 U.S See United States UVA See University of Virginia validation, third-party, 100 value, shared, 75–79 Q Vault, 138 vice See inherent vice violence, Lego toys and, 124 virtual reality, 35–36, 136 virtuous circle, 114–15 vision, with culture and image, 135–36 VisionSpring, 209 Visram, Shazi, 156–57 visual identity, 110 Volkswagen scandal, 37, 135, 154 Volvos, 66 voting, “Brexit,” 15 Wall Street (film), 27 Wall Street Journal, 1, 28, 29, 178 Warby Parker, 144 Washington Post, 29, 32, 38, 178, 204 Waste Management, Inc., 92–93, 165, 210 water: Coca-Cola with, 99, 146; drought, 83–84, 152; Nestlé with, 82–85; scarcity, 99, 149–50 See also Deepwater Horizon oil spill, BP and web-enabled stakeholders, 56 We Feed the World (film), 83 “we,” instead of “I,” 202–4 253 Q INDEX Weiss, Emily, 134 Welch, Jack, 17, 18 Wells Fargo, 165 white supremacy, 143 WhiteWave Foods, 145 Whole Foods Market, 114–15, 138 Wi-Fi, 105, 197 Wikipedia, 120 Wilson, Sloan, 26 Wood, Elizabeth, 109 Woodruff, Robert, 148 Wooten, Lynn Perry, 75 Yelp, 163 Young Invincibles, 123 YouTube, 6, 7, 189 Zappos, 58 Zeitz, Jochen, 154 Zuckerberg, Mark, 96–97, 120–21, 167, 174 Q 254 Q ... this new landscape requires more than memorable brand taglines and crisis preparation drills Instead, the new landscape is fundamentally resetting the relationship between business and society, ... media and technology, public opinion, and perception, creating a new social landscape that has reset the relationship between business and society The second chapter provides an overview of the business. .. 1968- author | Carmichael, Barie, author Title: Reset : business and society in the new social landscape / James Rubin and Barie Carmichael Description: New York : Columbia University Press, [2017]
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