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...years ago, Dr. Daniel Vasella, the Swiss CEO of pharmaceutical giant Novartis, told an American interviewer that his firm was going to have to spend a lot more time talking to NGOs. The journalist's response: "What's an NGO?" Let's hope he knows now. NGOs--nongovernmental organizations--have won significant influence over global companies. The demonstrations against global capitalism at the G-8 summit in Genoa were the latest manifestation of a trend that--mostly quietly and behind the scenes--is defining our age. From Home Depot (criticized for its use of tropical hardwoods) to Starbucks (attacked...
FIRST, ACCEPT THAT THERE'S NO GOING BACK. Manny Amadi, CEO of Cause & Effect Marketing in London, says companies can no longer expect to escape scrutiny from activists. Remembering the worldwide damage to its reputation that Shell suffered because of its troubles a few years ago in the Niger delta, of all unlikely places, he says, "Nobody can hide." But Kathy Bloomgarden, CEO of New York City-based public relations consultancy Ruder-Finn, says few companies have yet acknowledged this "profound change in our society...
GOOD WORKS AREN'T ENOUGH. "You can't buy corporate social responsibility," says Richard Edelman, president and CEO of Edelman Public Relations Worldwide in New York City. "You have to do it." Amadi argues that many American companies confuse social responsibility with philanthropy. Nike long prided itself on writing checks to charities in the Pacific Northwest. But for a global brand, that wasn't enough. When activists attacked the company because of working conditions in its Asian factories, says Amadi, a company that had thought of itself as a "good guy" had to rethink its game...
...distribution and customer service. NuTech software allows Ford to find profitable new ways to sell vehicles that are coming off leases. It helps Unilever target inefficiencies in its supply chain. And it is being used to detect check and credit-card fraud at Bank of America--whose legendary former CEO, Hugh McColl, also serves on NuTech's board...
...Research, a technology research company based in Boston, estimates that 40% of all new manufacturing-related software already incorporates some form of AI. "Everyone is interested in analyzing large bodies of data to determine what is likely to happen," says McColl, the former Bank of America CEO. "NuTech has figured out how to do that." McColl joined NuTech's board in September and has invested in the company. He and Walesa will receive stock options that could prove valuable if the company successfully goes public. Michalewicz says the 126-employee firm has almost 100 customers and is turning a small...