As more and more executives come to recognize that a company’s reputation is an important strategic asset, many are understandably confused as they ponder the numerous social and political issues that now stand alongside simple profit as a measure of long-term corporate health. Avoiding scandals is a no-brainer. But how “green” should a company be in an increasingly environmentally conscious society? Where should a corporation draw the line between what is acceptable from a purely legal standpoint and what would be dictated by the ethics of different generations of consumers? Where are the tipping points between public tolerance of executive and corporate behavior and a public backlash or crude regulatory remedies?

As a founding father of public-opinion research and its preeminent practitioner, Daniel Yankelovich has been probing attitudes toward business and other issues for more than four decades. Yankelovich, 82, introduced the New York Times/Yankelovich poll in 1975, has written 11 books, and served as a consultant to business and political leaders. He has also established four companies, including his latest, Viewpoint Learning, which helps organizations to develop special-purpose dialogues to expand their options, anticipate obstacles, and broaden support for difficult decisions. Yankelovich is no stranger to the boardrooms...