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Are You Responding to Customers’ New Expectations?

By: Elaine Fogel

 

Considering the COVID-19 pandemic and social unrest about police violence and racial injustice, what is your organization doing to respond to its customers’ new expectations?

Based on new research, The Corporate Social Mindset Report, some companies have exhibited a social mindset.

Social Mindset: A perspective that approaches decisions and actions with an understanding of their impact on society (e.g., police reform, hunger, discrimination, immigration).

Many companies, the report says, are still struggling to determine how to effectively match their core functions with concrete actions, practices and investments intended to address social issues in a way the public finds authentic and meaningful.

The study’s findings should help you approach the development of goods and services in the face of these expectations, and how a social mindset should be woven throughout every company.

Eight Traits A Company Needs to Develop an Authentic Corporate Social Mind

Trait 1: A BUSINESS WITH A CORPORATE SOCIAL MIND DECIDES WITH SOCIETY IN MIND

Leadership has the issue of societal benefit on the table in all its decisions, all the time.

Trait: 2 A BUSINESS WITH A CORPORATE SOCIAL MIND LIVES ITS VALUES

A company’s values express every employee’s commitment to caring for the community and working toward an improved world.

Trait 3: A BUSINESS WITH A CORPORATE SOCIAL MIND USES RESOURCES FOR SOCIETY’S BENEFIT

Companies use their intellectual, social, financial, and emotional capital to drive ideas that advance societal progress.

Trait 4: A BUSINESS WITH A CORPORATE SOCIAL MIND LISTENS BEFORE ACTING

Companies listen to society before driving innovation and implementation.

Trait 5: A BUSINESS WITH A CORPORATE SOCIAL MIND HAS A SOCIAL VOICE

Along with transparency, having an authentic voice on societal issues is vital to ensuring consumers, the public, and stakeholders understand a company’s views.

Trait 6: A BUSINESS WITH A CORPORATE SOCIAL MIND LEADS SOCIAL COLLECTIVES

Companies lead and engage by driving the agenda of social-issue collectives.

Trait 7: A BUSINESS WITH A CORPORATE SOCIAL MIND MEASURES SOCIAL IMPACT

Companies measure the impact of their decisions on all aspects of society, as well as on their business.

Trait 8: A BUSINESS WITH A CORPORATE SOCIAL MIND INNOVATES FOR SOCIAL GOOD

All innovations address both a consumer/business and social need.

Although this study was conducted with enterprises, its findings may also help guide smaller businesses.

Published: July 28, 2020
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Source: Elaine Fogel

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