Another example of stakeholders’ power to force change
The food and drink industry has come under fire on issues from health to environmental practices. Now, feeling a financial squeeze, The Consumer Goods Forum, an industry network including some 400 organizations from 70 countries around the globe, is announcing sweeping changes to help stop the industry’s reputation downslide.
Reuters captured Nestle’s CEO explaining why now is the time for change:
“It is not business as usual anymore. Pressure is mounting from all sides and angles,” Paul Bulcke, chief executive of Nestle, the world’s biggest food and drink firm behind brands such as Kit-Kat and Nescafe, told the meeting.
“We need to show them we are a responsive and responsible industry, now more than ever.”
No longer advertising junk food to children under 12, better labeling standards, more disclosure of product ingredients, and several steps aimed to stop deforestation and reduce their contribution to global warming are all part of the CGF’s plans, answering their biggest critic’s complaints in one sweeping movement.
The power of stakeholders to force change is being proven over and over again, and no doubt will continue to increase. With that in mind, the best thing you can do is address your critic’s demands before the talk turns into financial losses. Make the changes you can, and if there are things you simply can’t do, explain that. This isn’t a flashy side of crisis management, but as far as we’re concerned it’s the best type possible – simple, effective, and below the radar.
The BCM Blogging Team
https://www.bernsteincrisismanagement.com