![]() An opportunity for positive changeīusiness leaders should embrace the apparent contradiction-of low trust and high expectations-and make the choice to demonstrate that they see their mission as serving not only shareholders but also customers, suppliers, workers, and communities. ![]() The business ecosystem is evolving those who resist will find themselves at a competitive disadvantage. The business ecosystem is evolving those who resist will find themselves not only on the wrong side of history, but also at a competitive disadvantage. With the onset of COVID-19 and the wealth of information available, even those who would like to stay out of the action will find that, more and more, their employees and customers are demanding otherwise. Ninety-two percent of respondents said that companies should be speaking out on issues such as training, automation, and immigration, with 74 percent pointing to CEOs to take the lead. Published in January, shortly before the COVID-19 pandemic changed the world, the report includes a survey of 34,000 people of which 56 percent believed that capitalism was doing more harm than good globally, with majorities in 22 of 28 markets surveyed.Īs economic players, business people cannot stand offstage, watching the action-and the same survey found that people don’t want them to. “2020 Edelman Trust Barometer,” Daniel J. Another indicator is the most recent Edelman Trust Barometer. Economic issues are often-and perhaps always-a source of such discontent. One such indicator is increased political polarization in many countries, even in well-established democracies. Think of West Germany versus East Germany South Korea versus North Korea or Costa Rica versus Cuba.Īnd yet, there is palpable anger and distrust with the idea of capitalism and the role of business in many societies. And that is what free-market-oriented economies, in their many different varieties, have delivered better than the alternatives. ![]() None of this could have been done without economic growth.
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