Understanding who you are and what you stand for is key to protecting your brand. If you have any doubt, just ask the Academy.

This past week, the Academy announced the nominees for the Oscars, and the list was met with more controversy than celebration. The twenty, all white actors and actresses who made up the nominees were more a reflection of the academy voters versus the movie going public and artists.

The Academy President Cheryl Boone Isaacs said she was “Heartbroken and frustrated by the lack of inclusion“ and a PR and social media backlash began with a number of A-listers vowing to boycott the awards ceremony and the trending of the hashtag #OscarsSoWhite. So what went wrong? Were Michael B. Jordan in Creed and Will Smith in Concussion even in the conversations?

The Academy voters lost sight of what they stand for (the best of the film industry), who they are (reflections of our world) and who buys their product (the movie going public). While we won’t always mirror our audiences, we certainly have to always represent them and keep them front and center in our thinking. Here are a few tips on how you can learn from the mistakes of the Academy to improve your understanding of your business.

Lead and Embrace Change. Look within your own organization and make sure you are staying current and represent the future versus the past.

Be relevant. Always speak to your target audience in a way that is relevant to them, not what might sound good to you.

Set high expectations.   Make sure you and your team are engaged in understanding your product, your audience and the marketplace. Excellence should be expected.

Listen. The current controversy is a call for change. Listen intently to what your customers are saying and apply that learning to your business. Your brand may depend on it.