New face of media redefining acceptable corporate behaviour

Corporations must ensure that in their process of making profits, their actions or omissions do not harm the society they operate in.

Trafigura, an international oil company, last month agreed to pay 30,000 Ivorians about Sh116,000 each in an out-of-court settlement after it was accused of dumping toxic wastes in the country that infected hundreds and caused the death of 15 people.

Trafigura received a lot of bad press and threatened international press with legal action.

The bloggers, enjoying anonymity of the internet, tore into the company with their uncensored comments.

Smart audiences

Secondly, businesses should take a reality check.

“Reality is the new dynamism. Hype and over the top statements no longer wash with smart audiences,” Robinson said.

Thirdly, thorough research is necessary in order to understand consumers and their needs.

In Kenya, for instance, several brands have been introduced and failed, a phenomenon which analysts attribute to lack of insightful consumer studies.

Finally, businesses have to listen to their stakeholders.

Multinationals, in particular, run the risk of replicating policies and projects developed in one country to the rest of its branches, ignoring inherent cultural and political differences.