Rethinking Corporate Success in an Era of Mindful Consumption
Submitted by: Palgrave Macmillan
Posted: Sep 15, 2009 – 09:00 AM EST
NEW YORK, Sep. 15 /CSRwire/ - Today's corporations face a higher level of scrutiny than ever before. As consumers increasingly identify themselves with the brands they purchase, the importance of corporate reputation is skyrocketing. In this climate, shareholder profits can no longer be the sole guiding force behind a company's actions. Where once contributing to the greater good was perceived solely as a marketing tool, it is now understood to reap essential financial benefits. In GOOD FOR BUSINESS: The Rise of the Conscious Corporation [Palgrave Macmillan/PUB DATE: Sept 15/ Hardcover/ 0-230-61687-9], two top branding experts team with a highly regarded specialist in corporate strategy and a leading global search consultant to deliver a blueprint for creating dynamic, forward-looking, and highly profitable corporate brands.
Examining the causes and consequences of the heightened expectations of modern consumers, the authors uncover four key elements that are critical to brand overhauls and offer specific guidance on how each can be implemented:
Purpose Beyond Profit: 74% of consumers believe businesses bear as much responsibility as governments for driving positive social change. The authors outline a step-by-step approach to developing clearly defined company values and goals-and making them public knowledge.
Humanized Leadership: 58% of consumers surveyed avoid shopping at stores that don't treat their employees fairly. Equitable treatment of employees, customers, and suppliers is addressed, with advice on how top executives can encourage humane behavior at all levels of the company.
Championing Sustainability: 73% of consumers believe the most successful and profitable businesses in the future will be those that practice sustainability. Proven plans for sustainability initiatives are detailed, including insights into how to communicate objectives, lead by example, and engage consumers in the effort.
Respect for Consumers' Power: 76% of consumers believe they have a responsibility to censure unethical companies by avoiding their products. A guide to communicating with today's proactive consumer is included, detailing the best ways to build trust, keep customers informed, and engage them in a way that builds credibility and emotional bonds.
ABOUT THE AUTHORS:
Andrew Benett is co-CEO of marketing communications agency Euro RSCG NY and global chief strategy officer of Euro RSCG Worldwide. In 2009, Andrew was named to Crain's New York Business's "40 Under 40."
Cavas Gobhai, former CEO of Synectics, is a leading business consultant specializing in strategy and innovation for senior management teams. Over thirty-plus years, he has worked with more than one hundred leading U.S. and international organizations, including Kraft, Coca-Cola, and Bayer.
Ann O'Reilly is content director of Euro RSCG Worldwide's Knowledge Exchange. She is co-author of The Future of Men (Palgrave 2005) and Buzz (2003).
Greg Welch is global leader for the Consumer Goods & Services Practice at executive search firm Spencer Stuart. He is co-founder of the M50 marketing group and creator of Spencer Stuart's annual CMO Summit and Marketing Officer Practice.
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