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Six steps to guiding corporate reputation while responding to the crisis in Ukraine

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Six steps to guiding corporate reputation while responding to the crisis in Ukraine

The Conference Board,

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Companies must make deliberate and well-considered decisions to take public stands on any issue.

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8

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Recommendation

Russia’s invasion of Ukraine has led to an unprecedented number of businesses withdrawing from or limiting their activities in Russia. Corporate decisions to take a public stand on the war have received broad-based support from Western stakeholders, including consumers, investors and employees. Yet the next crisis inevitably will come, and companies should put frameworks in place that enable them to act consistently and in alignment with their values. Denise Dahlhoff of The Conference Board lays out what such a framework must include. 

Summary

Consumers and other stakeholders are increasingly supportive of international companies taking public stands on causes or issues.

Since the start of the war in Ukraine, many international brands have decided to halt business operations in or dealings with Russia. These moves reflect the broader trend toward corporations’ increased responsiveness to stakeholder sentiment and willingness to take public stands on causes or issues.

A February 2022 survey revealed that 75% of American adults support companies’ decisions to halt their business activities in Russia. A March 2022 poll showed growing support, with 80% of American adults in favor of boycotting Russian oil purchases.

Consumer support of a brand’s endorsement of a cause differs by geography and depends on the issues at stake.

A 2019 survey conducted in 64 global markets revealed...

About the Author

Denise Dahlhoff is a senior consumer researcher at The Conference Board. 

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