When Corporations Get Woke: A New Era

May 2022
Wharton School of the University of Pennsylvania

Introduction

Did you know even giant corporations can't escape peer pressure? Take a wild ride through recent history with the Wharton School of the University of Pennsylvania as we explore why companies like Disney, Microsoft, and Goldman Sachs are suddenly taking stands on hot-button social issues. From condemning anti-LGBTQ+ laws to halting sales in Russia, find out how public pressure and a quest for authenticity are pushing businesses to act. It's not just about profits anymore; welcome to the era where social responsibility is the new black!

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Why It Matters

Discover how this topic shapes your world and future

Standing Up to Make a Difference

Why does it matter when companies take a stand on social issues? Imagine living in a world where the places you shop, the apps you use, and the movies you watch are all silent on the big issues that shape our lives. Now, picture a world where those same companies are vocal, taking actions that resonate with your values and contribute to positive change. This shift is not just about making statements; it's about companies recognizing their power and responsibility to influence societal change, from fighting racial injustice to advocating for LGBTQ+ rights and tackling environmental challenges. For you, this could mean supporting businesses that align with your beliefs, and understanding the impact of your choices on a global scale. It's about seeing the interconnectedness of business actions and social outcomes, and realizing your role in this vast ecosystem.

Speak like a Scholar

Social authorization

The permission or approval from society that encourages companies to act on social issues.

ESG (Environmental, Social, and Corporate Governance)

A set of standards for a company’s operations that socially conscious investors use to screen potential investments.

Systemic racism

A form of racism that is embedded through laws and regulations within a society or organization.

Diversity and inclusion (D&I)

Efforts and policies designed to include and support individuals from diverse backgrounds and identities in businesses or communities.

Corporate social responsibility (CSR)

A business model in which companies integrate social and environmental concerns in their operations and interactions with stakeholders.

Stakeholders

Individuals or groups that have an interest in any decision or activity of an organization, including employees, customers, investors, and the community.

Independent Research Ideas

The impact of corporate statements on public policy

Investigate how public statements by companies on social issues can influence or change public policy and legal frameworks. This topic explores the power dynamic between business and government.

Comparative analysis of ESG performance across industries

Examine how different industries approach ESG standards and the effectiveness of their actions on environmental and social outcomes. This research could highlight best practices and areas for improvement.

The role of diversity and inclusion in corporate innovation

Analyze how D&I efforts within companies correlate with their level of innovation and market success. This study could reveal the tangible benefits of diversity in the business world.

Consumer responses to corporate social activism

Explore how consumers' purchasing behaviors are influenced by companies' stances on social issues. This topic delves into the relationship between corporate activism and consumer loyalty.

The evolution of corporate social responsibility

Trace the history and evolution of CSR, focusing on key milestones and shifts in corporate behavior over time. This research could provide insights into the future direction of CSR initiatives.

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