Several prominent companies have publicly, and in today’s political climate, bravely reinforced their commitment to their Diversity, Equity, and Inclusion (DEI) initiatives. Costco and Chase are among them. Others have dropped DEI efforts, also publicly—some behaving as if a yoke has been removed from around their financial necks, some because they feared brand and reputational damage. The remainder are likely confused about how to proceed in today’s charged climate. Stephen Paskoff, Chair and founder of ELI, Inc., has been working in this arena for more than forty years. The situation Despite the current dismissal of DEI, Paskoff reminds us that its aims are laudatory. Every organization wants the best talent. Looking for it in diverse pools helps us find it. We need equity, if structured lawfully, to have a fair and motivating workplace. Success is advanced by everyone at work feeling included, so…
How to Expand Without Exploding
“Brands Expand Into New Niches With Care, but Not Without Risk,” a recent NYT article, was full compelling brand extension stories. It also contained examples in which I found myself saying, “What were they thinking?” Here are some examples from the article of both ends of the spectrum. The tagline of British luxury sports car brand Aston Martin (if you have to ask the price, you cannot afford it) is “The Art of Living.” Its recent extension into exclusive Miami Beach condos makes sense, following the tracks of its luxury speedboats, menswear, and jewelry. Aston Martin is selling exclusivity. Appreciate its designers, and you will enjoy Aston Martin’s world. Harley Davidson did the same thing, extending into clothing, home furnishings, and experiences, albeit for a different target market. But as to lighter fluid manufacturer Zippo moving into women’s fragrances, what were they thinking?…