HBR IdeaCast The Shifting Relationship Between Business and the U.S. Government
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Mar 17, 2026 
Jeffrey Sonnenfeld, Yale management professor and founder of the Chief Executive Leadership Institute, digs into why CEOs stay publicly quiet in tense political moments. He explores fear of retaliation, why group pressure works better than solo dissent, how smaller firms can speak up, and how policy uncertainty can freeze business decisions.
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CEOs Are Selective Rather Than Silent
- Jeffrey Sonnenfeld says CEOs are not silent overall; they selectively engage on issues that most affect their companies and stakeholders.
- He cites Michael Dell tracking 100 issues, CEOs on tariffs, and 93 leaders issuing a post-2020 election statement.
Collective Action Protects Leaders Better Than Going Solo
- Sonnenfeld argues solo resistance can be costly, while coordinated business action can change policy and protect firms.
- He contrasts Ken Frazier's Charlottesville stand and IBM tech lobbying success with Harley-Davidson's tariff backlash and CEO Matt Levatich's firing.
Engage Power Without Public Humiliation
- Keep engaging government even when you support some policies and oppose others; muting yourself weakens business influence.
- Sonnenfeld says Donald Trump listens when leaders come with force, but they should avoid humiliating him and focus on useful dialogue.
