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Americans are accustomed to seeing corporate executives gather in Washington, DC, to discuss geopolitics, policy, and more. In 2017, CEOs united against North Carolina’s transgender bathroom law; in 2019, they opposed abortion bans. Following the Capitol attack on January 6, 2021, many big names in corporate America denounced the rioters and halted their political contributions.
Recently, over 1,000 companies pledged to limit their operations in Russia to protest Moscow’s war on Ukraine. Various companies, like Dick’s Sporting Goods and Citigroup, have taken stands on social issues such as gun sales after tragic events like the Parkland shooting in 2018.
Despite vocal stances on issues like gun control and advocating for change, corporate leaders have been noticeably quiet following the recent mass school shooting in Nashville. While the role of CEOs in advocating for social change is crucial, the broader society should also participate in driving change, rather than solely relying on CEOs to be the voice of reason.
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The growing reliance on CEOs to advocate on behalf of the public has led to some complacency among Americans. While CEOs have been active in various social issues, including voting rights and sustainability, they are waiting for broader societal participation to drive significant change. This frustration stems from the CEOs’ desire for greater public trust and social capital, underscoring the importance of collective action.
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Moreover, businesses should not solely rely on CEOs for advocacy, as political contributions from big businesses have decreased post-2020 elections. The belief that CEOs solely control campaign purse strings is a misconception, as demonstrated by recent trends in campaign contributions.
In the realm of technology, Tesla reported a modest 4% increase in sales in the first quarter, despite price cuts on lower-priced vehicles. This growth has been attributed to increased production at new factories, leading to a surplus of vehicles compared to sales. The company’s focus on delivering value at an affordable price underscores the importance of meeting customer demand effectively.