Brand reputations are worth billions of dollars. Here are the five things to avoid when facing a reputational crisis
It was a scene pulled from a nightmare. A Penn State graduate assistant allegedly witnessed a young boy, about 10 years old, being sexually brutalized in the locker room showers by the football team’s former defensive coordinator Jerry Sandusky. The crisis of failed leadership that followed has ended Joe Paterno’s coaching career, tarnished the reputation of a legendary program, and shaken Penn State’s leadership team all the way to the President’s office. Within the tale are reputational lessons to be learned by every business executive who thinks that “that couldn’t happen on my watch.”
Experts warn of five common attitudes that have the power to drag your reputation, and that of your organization, straight into the fiery pit.
1. The law is our defense
As students rioted in support of the ousted coach, one protestor pouted to a TV reporter, “He didn’t break any laws.” Mark that statement as factually correct but missing the point. In most cases, stakeholders will hold your organisation to a much higher standard than legal compliance, particularly if your brand purports to stand for positive social values.
Paul Danos, dean of the Tuck School of Business at Dartmouth, calls to task those in business and other institutions who fail mightily in their societal responsibilities while staying well clear of the town’s sheriff.
Speaking of bank regulators and CEOs who allowed illogical risks to flourish in our banking and investment institutions, Danos says, “The parties had the power to avert disaster, but they likely lacked the knowledge their positions required, or even a thorough appreciation of the duties they had assumed. Most important, they seemed to lack the courage to speak up when necessary.”
Leaders must fully understand their duties and responsibilities, and appreciate the courage it takes to make a decision that might hurt a colleague or damage an organisation’s reputation.
Read more......
It was a scene pulled from a nightmare. A Penn State graduate assistant allegedly witnessed a young boy, about 10 years old, being sexually brutalized in the locker room showers by the football team’s former defensive coordinator Jerry Sandusky. The crisis of failed leadership that followed has ended Joe Paterno’s coaching career, tarnished the reputation of a legendary program, and shaken Penn State’s leadership team all the way to the President’s office. Within the tale are reputational lessons to be learned by every business executive who thinks that “that couldn’t happen on my watch.”
Experts warn of five common attitudes that have the power to drag your reputation, and that of your organization, straight into the fiery pit.
1. The law is our defense
As students rioted in support of the ousted coach, one protestor pouted to a TV reporter, “He didn’t break any laws.” Mark that statement as factually correct but missing the point. In most cases, stakeholders will hold your organisation to a much higher standard than legal compliance, particularly if your brand purports to stand for positive social values.
Paul Danos, dean of the Tuck School of Business at Dartmouth, calls to task those in business and other institutions who fail mightily in their societal responsibilities while staying well clear of the town’s sheriff.
Speaking of bank regulators and CEOs who allowed illogical risks to flourish in our banking and investment institutions, Danos says, “The parties had the power to avert disaster, but they likely lacked the knowledge their positions required, or even a thorough appreciation of the duties they had assumed. Most important, they seemed to lack the courage to speak up when necessary.”
Leaders must fully understand their duties and responsibilities, and appreciate the courage it takes to make a decision that might hurt a colleague or damage an organisation’s reputation.
Read more......
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Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
