Both companies yanked ads from The Learning Channel’s "All-American Muslim." That's when the trouble started. But all is not lost--companies and brands that want to avoid losing customers because of a bad case of foot-in-mouth disease can find their way back again.
Corporate Social Responsibility is essential to build strong relationships with consumers. On the brink of collapse, Puerto Rico’s Doral Bank transformed itself with an aggressive CSR strategy. By offering free mammogram testing and education on health care for women, Doral bank has quickly established itself as a trusted community partner.
Trust: Why Business Lost It, And How To Win It Back (Part 2)
Many companies are turning to Corporate Social Responsibility as a strategy to win back the trust of their stakeholders and customers. It won’t work. Why? Because you don’t become trustworthy by asking people to trust you even more.
What happened? Wall Street, in collusion with institutions around the world, have not only lost our wealth and our jobs, they have stolen our trust. Now we are “left to rely increasingly on governments for the creation of our wealth, something that they have always been conspicuously bad at doing.....Trust is fragile. Like a piece of china, once cracked it is never quite the same. And people's trust in business, and those who lead it, is today cracking." - Charles Handy
The world has changed. Even in this economic downturn corporations are being pressured to adopt socially responsible and sustainable practices. But how much should business be responsible for? And where are the lines between business, government and non-profits?