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Governance, Leadership Article, business management strategy
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Article at a glance:

The trust gap between consumers and corporations

  • Business executives and consumers overwhelmingly agree that corporate obligations to shareholders must be balanced by contributions to the broader public good, according to two McKinsey surveys.
  • Consumers, however, are less positive than executives about the social contributions of large global companies.
  • Consumers and corporate leaders prioritize different sociopolitical issues, and consumers have no qualms about taking business to task for what they perceive as failures to meet its social obligations.
  • The surveys suggest that companies need to develop methods for tracking and interpreting public opinion and should work to address key social issues.
This article contains the following exhibits:
  • Exhibit 1: Consumers are less than positive about large corporations’ contributions to the public good.
  • Exhibit 2: Business executives don’t understand what is on the minds of consumers.
  • Exhibit 3: Consumer indicate that they are willing to act on their views, particularly in their purchasing decisions.

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