“Get woke, go broke.”
That has been the mantra for many critics of companies and brands, like Disney and Bud Light, that have taken stances on sociopolitical issues including race, sexual orientation, gender and environmental issues. But is it actually true?
According to a recent study published in the journal Business and Society, companies speaking out on such issues aren’t exactly “going broke,” though they do often see a downturn in stock prices, representing a loss of millions of dollars, often from a single tweet.
Dr. Patrick Fennell, Salisbury University assistant professor of marketing and co-author of the study, is available to discuss its findings, including lessons companies can learn about when corporate sociopolitical activism may be appropriate and when it could lead to capital losses.
View his study here: https://journals.sagepub.com/doi/abs/10.1177/00076503221110457?journalCode=basa