Consumers are less positive than executives are about the contributions that large global companies make to the public good, according to a survey of how consumers view the role of business in society.1 Moreover, consumers and corporate leaders prioritize different sociopolitical issues, and consumers have no qualms about taking big business to task for what they perceive as failures to meet its social obligations.
We compared the findings of this consumer research with a McKinsey Quarterly global survey2 that probed the opinions of executives on the same topics. The comparison revealed a trust gap between consumers and corporations, as well as a lack of understanding among business leaders about what consumers really expect from companies.
These observations, worrisome for executives, suggest that companies should widen their polling and market research beyond the traditional focus on current and prospective customers and product offerings. What the public thinks about business and its role in tackling social and political issues such as global warming, obesity, and online privacy is important. As consumers, members of the public make their voice heard through purchasing decisions. As voters, they influence the politicians and regulators who set the ground rules of the market. Only through...