Why should businesses get involved in politics? Traditionally companies have tried to avoid getting involved in political issues, because remaining apolitical, means you avoid offending anyone. But in the 21st century, there is an increasing expectation that companies will take a position.
As we’ve seen with the invasion of Ukraine, businesses have been taking steps to engage with the public mood. Some have ceased doing business in or with Russia or Russian clients, others have provided humanitarian support to refugees or practical help to the Ukrainian government.So what’s happening and how can companies navigate those challenges. That’s what my guest Dr Joe Zammit Lucia has just written a book about. In The New Political Capitalism: How Business and Societies Can Thrive in a Deeply Politicized World, Joe explores how modern businesses need to reflect the social values and cultural trends which shape the environment in which businesses operate and how an incredibly politicised set of stakeholders — from customers to employees and investors — are expecting companies to have a perspective on political issues.In our discussion, Joe explains to me why companies should and need to get involved in political issues and what that means for the way they’re run. We recorded this before the invasion of Ukraine took place, which is why there’s no reference to it in our conversation. To find out more about Joe’s book The New Political Capitalism visit: https://www.bloomsbury.com/uk/new-political-capitalism-9781472990198/You can read more about him here: https://radixuk.org/executiveboard/joe-zammit-lucia/

You can also follow Joe on Twitter: https://twitter.com/joezlTo hear the episode of this show featuring Béatrice Otto on the role of the Fool — https://www.humanriskpodcast.com/beatrice-otto-on-fools/