The American democratic system worked despite the shortcomings of the Democratic party. Donald Trump won decisively with the largest popular vote and a diverse voter base, without any accusations of foreign interference or domestic voter fraud. Kamala Harris performed worse than Joe Biden in , , , and . Harris’s performance was subpar in virtually every region.
Business leaders were among the few constituencies that openly criticized Trump’s leadership and economic policies. Now, CEOs must navigate their businesses through uncertain times by addressing key priorities.
Firstly, they must look forward, not back. There is no value in CEOs engaging in blame games to explain the Harris campaign’s failure.
The Biden and Harris Administration’s missteps in global affairs may have damaged credibility. These include the chaotic withdrawal from Afghanistan, insufficient weapons support for Ukraine, limited influence in the Middle East, and continued reliance on China for key production. The administration’s failure to effectively communicate the strength of the US economy, despite falling inflation, full employment, strong GDP growth, reduced deficits, and record energy production, contributed to negative narratives that favored the Trump campaign. Regardless of the legitimacy of these issues, they are not relevant to the duties and priorities of business leaders, whose responsibility is to represent the interests of shareholders and other stakeholders.
Secondly, business leaders should congratulate President Trump for his resilience. Trump stated on Wednesday morning that “We overcame obstacles that nobody thought possible and it is now clear that we’ve achieved the most incredible political thing, look what happened, is this crazy?” This remarkable return to power includes overcoming setbacks such as his , the denunciation of scores of his top lieutenants, two by Congress, six legal prosecutions with , and at least two . His stamina and success in rallying more than half the nation behind him are noteworthy achievements. In line with Trump’s calls for healing and collaboration, the election differences should be put behind us by acknowledging the efforts and contributions of President Biden and .
Thirdly, CEOs must remember their shared fate and be prepared to support each other as they join President Trump’s mission for national unity, particularly on issues of shared concern. These include the dangers of widespread tariffs versus selective trade protection of strategic sectors, potential of key workers, threats from foreign powers, or political interference in the independence of the Federal Reserve. They should learn from their experience in 2017, when they joined President Trump’s business advisory councils only to find themselves divided by divisive tactics. These tactics aimed to pit drug companies, airlines, beverage companies, auto makers, defense contractors, against each other driven by political vindictiveness.
As Benjamin Franklin warned, “Unless we hang together, we shall surely hang separately.”