Can a Company Learn from Its Mistakes to Build a Better Future?
What a time to be alive, right? A global pandemic, murder hornets, almost WWIII… 2020 will certainly be a year that the human race will never forget.
I wonder how we will explain this period of history to the younger generations. Instead of baby boomers claiming they walked 20 miles to school, or buying cigarettes for their parents at the age of 9 (true story from my mom), or describing major historical events like the moon landing or Vietnam war, we will say, “I survived a pandemic and witnessed the biggest US protests since Rodney King”. I’m sure they’ll have to Google that last one.
What makes these events so significant compared to events from decades ago? It is the stage these events are displayed on. We can experience these events in-person or virtually, and learn about them from a constant stream of news and social media networks. Individuals aren’t scared to share their opinions and feelings on topics, even if they will offend.
Companies on the other hand, used to stay away from controversial issues. Could you imagine Coca Cola stating their opinion on the war in Vietnam? Or addressing the protest for Rodney King?
Now however, more and more companies are stepping up, showing leadership and addressing these topics or events head on. They are reassuring buyers that they hear them and are willing to openly communicate the brand’s beliefs, support or opposition of issues. Brands are increasingly reinventing themselves and their messaging to convey that they are socially responsible.
Many companies are making reaction statements following the current Georg Floyd and Black Lives Matter protests. After researching multiple brands’ reactions, I was fixated on Coca-Cola’s response.
When you visit Coca-Cola’s website you are greeted with the ‘together we must’ campaign — joining together to end systemic racism. This is a great tactic to immediately show that they are not scared to address current events and the brand’s position. The site also provides a link to Coca-Cola Chairman and CEO, James Quincey’s newsletter, sharing his perspective and the actions the brand is taking.
After reading the statement, I was very interested in how they addressed the current protests. Here is a quote that stood out to me — “Roberto Goizueta, then-Chairman and CEO of The Coca-Cola Company, said at an event, “Defending justice, creating economic opportunity and ensuring quality education is more than a noble cause. It is our duty. Nothing we value… our families, homes and businesses…are safe in the face of oppression, poverty and ignorance.”
The key word in that statement is ‘said at an event’. They did not globalize their opinion as they are now. We can argue and say that times were different, but that’s missing the point. Companies should establish a groundwork for implementing morals and ethics from the very beginning.
Reading further into Coca-Cola’s newsletter, James brings up the company’s history and admits that corporate America and Coca-Cola have not made enough progress.
James acknowledges their mistakes in the past and refers to the largest discrimination lawsuit in U.S. history in 1999–2000, which you can read here.
I love how they beat every reader to the punch by digging up their past and publicly acknowledging their mistakes.
James goes on to highlight the company’s success in diversity, with a celebration of Dr. Martin Luther King Jr., providing leaders to work on desegregation and education in South Africa and refranchising two new African-American entrepreneur-owned U.S. bottlers. James closes his statement by addressing new actions that will happen moving forward.
James Quincey not only wrote a newsletter, but he publicly addressed his Coca-Cola employees in a virtual town hall on June 3rd, 2020, and uploaded the video to Youtube.
The first step in moving forward was to display the brand’s support of the protests through all social media platforms. Instagram, Youtube, Twitter, LinkedIn and creating a new slogan, ‘Refresh the World and Make a Difference’, previously ‘Open Happiness’. (Coca-Cola Slogans)
This type of reaction from a dominate corporate American company shows that peoples’ voices are being heard. For new customers this is helpful because it shows Coca-Cola is being proactive. Current customers may still be biased because of the company’s past, but with Coca Cola acknowledging and addressing their mistakes, customers may look to forgive them. Bottom line is, Coca-Cola is listening and wants to create a new future, and is taking steps to do so.
I stated previously that companies should establish a groundwork for implementing morals and ethics, but sometimes that is not learned early on. Take Coca-Cola’s reaction as an example of a company, but we all must react to bring about change in the world. In order for us to be better we must acknowledge our past, understand and listen to current issues, and make changes to be socially responsible individuals.
