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  • January–February 2018
  • Article
  • Harvard Business Review

The New CEO Activists

By: Aaron K Chatterji and Michael W. Toffel
  • Format:Print
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Abstract

Though corporations have been lobbying the government and making campaign donations for a long time now, in recent years a dramatic new trend has emerged in U.S. politics: CEOs are taking very public stands on thorny political issues that have nothing to do with their firms’ bottom lines. Business leaders like Tim Cook of Apple, Howard Schultz of Starbucks, and Marc Benioff of Salesforce—among many others—are passionately advocating for a range of causes, including LGBTQ rights, immigration, the environment, and racial equality. Not only are CEOs speaking out, but they’re flexing their firms’ economic muscles by threatening to move business activities out of states that pass controversial laws. But does CEO activism actually change public opinion and policies? What are its risks and rewards? And what is the playbook for leaders considering speaking out? The authors of this article examine those questions and explain the takeaways of their own research. One finding: Consumers tend to view CEO activism through the lens of their own political affiliations, so it can provoke both negative and positive responses. Nevertheless, in the age of Twitter, silence on an issue can be conspicuous—and consequential.

Keywords

Government Policy; Rights; Leadership & Corporate Accountability; Sustainability; Leadership; Corporate Accountability; Policy; Social Issues; Communication Intention and Meaning; United States

Citation

Chatterji, Aaron K., and Michael W. Toffel. "The New CEO Activists." Harvard Business Review 96, no. 1 (January–February 2018): 78–89. (Winner of the 2019 HBR Warren Bennis Prize as best 2018 HBR article on leadership. Featured in the HBR Ideacast podcast and an HBR Webinar.)
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About The Author

Michael W. Toffel

Technology and Operations Management
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Related Work

    • 18 Jun 2018
    • Faculty Research

    CEO Activism

    By: Michael W. Toffel
    • 6 Nov 2018
    • Faculty Research

    CEO Activism

    By: Michael W. Toffel
Related Work
  • CEO Activism By: Michael W. Toffel
  • CEO Activism By: Michael W. Toffel
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