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Controversy Incorporated
Some of the best growth opportunities are found in fields loaded with ethical and moral difficulties, including biotechnology, providing public services for profit, serving low-income consumers in poor countries, and developing newly legal activities such as gaming. Companies working in these fields have had to make themselves more socially responsible to satisfy not only political activists but also their own shareholders. To make the most of these opportunities, companies should engage, not ignore, their opponents and learn as much as they can about the positions of all the stakeholders.
The take-away: Companies working in contentious activities need to persuade everyone involved that they have a moral right to engage in and profit from these businesses. This collaborative approach may require a new attitude for companies used to driving for dominance in their conventional markets.
Articles provided by The McKinsey Quarterly
© 1992-2003 McKinsey & Company, Inc
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