why companies need to change

Posted by on November 9, 2009 in geeky stuff | 0 comments

Companies NEED to change.

Trust is at an all time low. The ever changing, increasingly real-time, social landscape present reputational risk issues for business owners.

Look at the #trafigua episode on twitter, add in a “comcast on my couch” or a “united breaks guitars”… there’s a threat online that bad news and experiences from customers can go viral… but how long till we see the first company vs company bad experience – either deliberate, or via a leak – go viral?

Take this example:

Its quite feasible that a small business owner could be forced under by late payments (and a failure of their own credit control) from a larger company – what if they then wrote a damning blog article about said company which goes viral because people empathise with the “little guy” – imagine googling your brand name and finding a story like this on the first page, what would the impact be to your future business dealings?

It’s an issue that highlights for me, why it’s more important than ever to act in a fair and ethical way.

Looking deeper into the issue, it’s no longer good enough for people to act within the law – the law could change in the future to represent changing moral/ethical standards with retrospective implications. Politicians largely acted within the rules for expenses – those rules are now changing, with real implications – had they acted morally, would the situation be the same?

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