Political Advocacy Can Help Your Business
Technology offers more ways than ever for Americans to interact with their government, yet the turnout for the 2014 midterm elections was the lowest in 72 years. Even though citizens can read bills online, email their legislators and follow politicians on Twitter, many opt out of the political process.
But apathy isn’t an option for forward-thinking CEOs. While the business mantra is “the customer is always right,” the addendum today is, “the government is always right there.” As such it is second only to your consumer base in its ability to affect the economic value of your business. That’s why more companies are developing a governmental affairs department. While leaders of smaller businesses may question whether they can afford an investment of this type, a better question is: can you afford not to?
The impact of political advocacy
Political advocacy (lobbying) is one way businesses work to influence legislation and public policy. Ideally, they align their business interests with government interests so that both sides benefit. For example, when you enlist your congressman’s help with legislation, it can clear regulatory hurdles for a new manufacturing plant in his district. The business expansion benefits your bottom line, and the congressman adds “job creation” to his list of accomplishments.
