A client and friend of mine, Tom Laforge; Global Director of Human and Cultural Insights at Coca-Cola, sent me a note with the content below and asked if I would allow him a forum on my blog to express his thoughts.
My response was an effusive “but of course”. I am always eager to hear and spread the thinking of thought leaders in brand strategy, marketing and research. I have frequently gotten inspiration from Tom, who is a force for spreading the imperative of human understanding at Coca-Cola and a change agent who is helping direct the culture of global brands toward helping to make the world a better place.
I thank you for your insights, Tom.
THE NEW LOGIC FOR HOW TO SUCCEED IN BUSINESS
The overall environment in which business is operating is changing in a very simple way. Civil society is becoming more and more empowered every day. This is caused by a lot of things, particularly the internet which provides a ton of information and social media which allows them to share how they feel about that information. Social media also empowers them to do something about it. Smart businesses realize this trend will only continue. If it is not already the dominant force in your industry, it will be by 2020.
This is not a problem for companies that civil society likes. Which ones do they like? The ones that demonstrate that they “care and want for the wellbeing of others as they do their own.”
Business has always been about making money and it still is. What is now becoming increasingly clear is that the best strategy for making money is to be an ally with civil society. When everything a company does and says conveys that they “care and want for the wellbeing of others as they do their own” they are simply employing the most effective strategy for doing what they want to do – make money.
Alexis de Tocqueville called it “self-interest properly understood” by which he meant that you pursue your own self-interest in a way that does not impede others from pursuing their self-interests. Nobody wants to deny companies the right to pursue their own self-interest – they just have to do in a way that does not harm others. Simple.
So do people believe that your firm does indeed “care and want for the wellbeing of others as they do their own?” I hope so, because this is how your company will thrive! When consumers find a company that “cares and wants for the wellbeing of others as they do their own” they flock to it, they Tweet and Facebook about it, they become loyal to it. They recommend and love it.
This is the new logic for how to succeed in business.