All businesses need to be aware of market trends and perceptions to keep in touch with your consumer base. But what happens when your business values are not in line with where the market is going or when your business is not aware of current trending topics. Do you acknowledge, pushback or take-on these trends?
At this point, we need to note: the use of any movements, trends or awareness campaigns mentioned here are in no way an indication of OptiGrowth’s like or dislike for them. Fundamentally we believe in the free market economies, freedom of choice and freedom of speech with the ability to vigorously debate all aspects around any viewpoints.
Use the examples of the current state of the South African Economy, Political Policy affecting business, Black Lives Matter, LGBQT+, COVID vaccinations and the woke movements happening now and in the last 3 years. There was a growing perception that you were either with it or against it. If you said nothing, you were naturally against it and this put pressure on businesses, who very often had very little knowledge or opinion on these matters, to make statements or campaigns promoting these movements/trends with some devasting effects.
What do you do?
Making these decisions will always be difficult and choosing to share a business opinion or view could have a huge impact on a business, both positive and negative. There is a very real consequence to any reaction you may choose to take, the biggest consequence currently is that of “cancellation” or “cancel culture”.
The simple answer is return to your core values and let them guide your actions.
Values are what you, your stakeholders, clients, suppliers, staff, and shareholders, buy into collectively, especially if your values are the same as each other’s. This may alienate some who feel your business should have a voice and make a statement, but it’s impossible to satisfy everyone and you, and your business, have a responsibility to its stakeholders.
The hard lessons learned show that sometimes it’s better to say nothing and focus on delivering the best product or service you can. However, when you need to react, react from a position of your values, and let them guide you.
Your business may win or lose some market share, but the market who share your values will become more loyal and strengthen your brand image in your market.
Our advice:
- Don’t react unless you need too.
- When you do, do so unapologetically and from position of your core-values.