Care.com was an online platform designed to match caregivers with individuals seeking care for themselves, others, and pets, through job postings, caregiver profiles, and directories of local daycare centers. In March 2019, the Wall Street Journal had just published a 2,900-word investigative piece detailing potential trust and safety concerns of customers of Care.com. The success of Care.com’s business model required individuals to trust the platform enough to leave their children or elderly relatives with caregivers found through Care.com. If unaddressed, the claims in the Wall Street Journal might undermine that trust. Care.com’s leadership team had to decide how to respond to the article and evaluate whether Care.com’s existing safety measures were sufficient.
This is a one-of-a-kind session in which attendees will collaborate in small groups to answer questions together as we evaluate the tensions of how business models connect back to the mission and how the board can/should hold management accountable, such as:
- What additional actions, if any, would you have taken if you were the leader of Care.com (in response to Wall Street Journal article)?
- Is Care.com’s business model designed to deliver on the company’s mission? Why or why not?
- Do you agree with the philosophy outlined in Larry Fink’s letter to the CEOs? Is Care.com (and the other platform companies) following that philosophy?
- Is there any difference between corporate social responsibility/ESG initiatives and running a mission/purpose-driven organization?