News/Blogs

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Will Political Polarization Stop Companies From Supporting Social Causes?

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Insight from the CEO of Steel City Re, an AC Client, was featured in the Wall Street Journal.

When it comes to taking a stance on either race or politics more generally, authenticity and consistency are key. That means going beyond one-off marketing campaigns and social media posts meant to bolster a brand’s image and signaling a deeper organizational commitment to principles-based causes by investing real time and money, brand and reputation analysts say.

Taking a stance on any social issue should start with a thorough evaluation of the company’s stakeholders, according to Nir Kossovsky, chief executive of Steel City Re LLC, a reputation risk management and insurance company.

Companies traditionally have divided responsibility for different stakeholders among different corporate functions—the human-resources department, for instance, manages employees, while marketing handles customers, general counsel or compliance officers deal with regulators, and so on.

Companies need someone who can gather information about different stakeholders and strategically manage the reputational risks associated with each, Mr. Kossovsky said.

“If you know what they want, you have a choice: make operations conform to their expectations or invest resources in managing their expectations to something you can meaningfully reach,” he said.

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100th Anniversary Of First Commercial Radio Broadcast

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AC client Regional Industrial Development Corporation (RIDC) was part of a celebration commemorating the first commercial radio broadcast. RIDC’s Keystone Commons property, formerly a Westinghouse complex in Pittsburgh, is the original site of KDKA’s 1920 radio shack that made that inaugural broadcast to Americans on Election Night and marked the birth of the broadcast industry.

But the significance of this centennial anniversary goes beyond that. The 1920 presidential election came at a time when, like today, the nation was recovering from a pandemic and experiencing social activism. The Harding-Cox election was the first in which women could vote.

The centennial celebration was covered in several Pittsburgh news outlets, including 90.5 WESA and TribLIVE.

 

“To commemorate the event, the National Museum of Broadcasting partnered with Westinghouse Service Uniting Retired Employees (SURE) and Duquesne University to re-enact the first commercial radio broadcast that covered the 1920 election between Republican Warren Harding and Democrat James Cox. Duquesne University will live stream the historic results from a re-constructed version of the original radio shack at the Regional Industry Development Corporation (RIDC) Park in Turtle Creek, just like it did 100 years ago.”

 

 

 

 

 

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Steel City Re Big Pharma Study Featured in Agenda

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Research conducted by AC client Steel City Re is featured in Agenda’s article on big pharma’s reputation (paywall).

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Pittsburgh Business Times: Boosting Future Economic Development

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Pittsburgh Business Times article by Don Smith, President of RIDC, an AC client, can be read in full here.

The people of this region, and our future economic prosperity depend on our ability to retrain the workforce that is going to be displaced by the Covid-19 pandemic and economic disruption. We need to build a training system in the context of an overall economic vision and as part of a holistic approach to revitalizing our economy. Mobilizing large-scale workforce retraining as a boost to both workers and companies is both possible and realistic if we adequately incentivize business and local education institutions to take on the creation of demand-driven training programs.

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