A guide for CEOs in the age of Trump

Like any new chief executive officer, President Trump went right to work. And for the business community, there were signs that the country’s new leader would be good for business.

Amid a first week’s blizzard of executive orders, a continuous stream of tweets, and a few high-level meetings, there was every indication that the president felt an urgency to address the needs of business to ensure economic growth and job creation.

{mosads}Firsthand accounts reported that his meetings with CEOs were friendly, respectful, and focused on the reforms important to corporations: tax policy, immigration, regulation, and infrastructure investment.

Yet behind the handshaking and photo ops, the indicators were not so positive. A campaign promise on immigration morphed into an executive order that to many is offensive and a cause of chaos, anxiety, and anger among customers, employees, and global affiliates.

And how does a CEO respond to direct presidential “encouragement” to lower prices? What about the threat of punitive tariffs on products produced in other countries? Add to these the various actions and statements in the conduct of foreign relations that are out of the norm, troubling, and destabilizing to global business planning.

To complicate matters further, many of the media have adopted an approach that only flames the fires. While they celebrate anti-Trump CEOs, they are just as likely to vilify those who are seen as his supporters, producing the potential for product and company boycotts.

So, what are CEOs to do?

First, they should keep doing what they’re doing. Their core responsibilities haven’t changed. They are responsible to shareholders to deliver a good return on investment, legally and ethically. They are responsible to customers who depend on their company’s products and services. And they are responsible to employees to create a safe, rewarding, fair, and fulfilling workplace where all employees are treated with respect and have a chance to reach their potential.

Moreover, they must ensure that their enterprises are good citizens, paying taxes honestly, respecting the environment, and contributing to the communities where they operate.

As if all that weren’t enough, they must occasionally participate in public dialogues with elected officials and regulators at all levels on policies that impact their enterprise. But at the same time, they must remember that they themselves are not elected nor do they represent their employees, shareholders, or customers on political issues.

Second, they must respect the office of the president. If they are called or asked to a meeting, they should respond. Grandstanding by turning down a meeting or refusing dialogue might feel good to some, but it is profoundly disrespectful and carries consequences.

Engage. If threatened, CEOs need to use the same talents they apply to customers, employees, and competitors to turn controversy into constructive collaboration.

Air Force One costs too much? Let’s talk and find ways to reduce costs and improve the procurement system. Pharmaceuticals cost too much? You’re right, Mr. President, we do have some bad actors, but do you realize how important pharma and biotech are to America’s economy and worldwide health?

Do not respond to tweets. Focus on policy. Everything else is a distraction. Let’s turn our energy to the likes of true immigration reform, Affordable Care Act repair, tax reform, regulatory reduction, and fiscal policy. This is the hard work of government where real progress can be made.

In my experience, the engaged, informed, trustworthy, and persistent CEO who is supported by the right staff and partners can have a real impact on policy. Even the current conflagration regarding immigration might clear the way for real reform. By choosing battles with a focus on difficult but enduringly important policy work, CEOs can make a difference.

Kevin W. Sharer is the MBA Class of 1953 Senior Lecturer of Business Administration at Harvard Business School. He was chief executive officer of Amgen, the world’s largest biotechnology company, from 2004 to 2012.

The views of contributors are their own and are not the views of The Hill.