Surviving Company Failure

Posted by admin | Uncategorized | Tuesday 18 May 2010 1:57 am

Thus far the reputation management failure of the year has been a tossup between Toyota, Goldman Sachs, and British Petroleum. All of the companies have done horribly with their reputations, likely because none of them envisioned having to tackle such an incredible failure by their business. Online reputation is key to preparing for the overall media onslaught that accompanies problems like this.

Company crisis leaves many workers facing insecurity, a loss of control and disillusionment in a corporation that they were once proud of, management experts said. And that is a recipe for even more disaster because employee morale suffers.

Unfortunately, many employers facing adversity forget about its impact on the rank-and-file.

“In a crisis situation, many companies focus externally only” on things such as public relations and a firm’s stock price, said Christine Probett, a management and human resource professor at San Diego State University.

“If there is no internal communication, employees expect the worst and productivity drops significantly while employees speculate on what might happen,” she said.

Surviving a major mistake can be tough for a company, especially if that company is large enough, or the mistake is bad enough, to attract the attention of major media. Online reputation management is one way to get out ahead of such problems.

http://www.nbclosangeles.com/news/breaking/Surviving_your_company_s_mistakes-93898294.html

Updated 7:45 PM PDT, Sun, May 16, 2010

Getty Images

Company calamities like the ones playing out at firms such as BP, Goldman Sachs and Toyota do more than just impact a firm’s reputation and bottom line. They also do a number on employees.

It’s been nearly a decade, but Shirley Green still remembers vividly the pain and anguish she felt when her former employer Qwest Communications faced disaster.

The company announced sweeping layoffs in 2000, the stock plummeted in 2001, and CEO Joseph Nacchio soon resigned amid allegations of fraud. He was convicted of insider trading in 2007.

“It was really upsetting,” said Green, who was a process analyst for the telecommunications company at the time. “At baby showers, networking groups, even when I went to the doctor’s office and filled out forms, I didn’t want to say where I worked.”

Green, who lives in Denver and spent more than two decades with Qwest until she was laid off, describes herself as a “peon” who had no direct connection with the goings on at the top at the beleaguered company. “The people at the bottom of the food chain are the ones who get hit the worst.”

Company crisis leaves many workers facing insecurity, a loss of control and disillusionment in a corporation that they were once proud of, management experts said. And that is a recipe for even more disaster because employee morale suffers.

Unfortunately, many employers facing adversity forget about its impact on the rank-and-file.

“In a crisis situation, many companies focus externally only” on things such as public relations and a firm’s stock price, said Christine Probett, a management and human resource professor at San Diego State University.

“If there is no internal communication, employees expect the worst and productivity drops significantly while employees speculate on what might happen,” she said.

Online Reputation Management Services have been provided by Reputation Hawk since early 2007.

3 Comments

  1. Trackback by source — November 2, 2012 @ 3:39 am

    source…

    Reputation Damage » Surviving Company Failure…

  2. Trackback by voyance gratuite en direct — November 3, 2012 @ 11:21 am

    voyance gratuite en direct…

    Reputation Damage » Surviving Company Failure…

  3. Trackback by nipples — May 23, 2013 @ 12:56 am

    nipples…

    Reputation Damage » Surviving Company Failure…

RSS feed for comments on this post. TrackBack URI

Sorry, the comment form is closed at this time.