Both Target Corporation and Best Buy issued revised policies on making political contributions after donations to independent political committee MN Forward created backlash and controversy.
MN Forward used contributions to fund gubernatorial candidate Tom Emmer, a conservative who opposes same-sex marriage. Target, in particular, faced opposition from gay rights organizations and consumers who engaged in a nationwide boycott.
While the new policies are the outcome of pressure from shareholders, it will be interesting to see if other companies follow suit and develop new policies. Corporations that engage in contributions to committees and organizations should realize the implications of not completing due diligence.
For Target, in order to bounce back, the revisions should not just be a crisis response tactic, but a rigid set of policies that are followed and enforced.