How is business done?
I got this today in email.:)
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Father : I want you to marry a girl of my choice
Son : "I will choose my own bride!"
*Father: "But the girl is Bill Gates's daughter."
*Son : "Well, in that case...ok"
*Next Father approaches Bill Gates.
*Father: "I have a husband for your daughter."
*Bill Gates: "But my daughter is too young to marry!"
*Father: "But this young man is a vice-president of theWorld Bank."
*Bill Gates: "Ah, in that case...ok"
*Finally Father goes to see the president of the WorldBank.
*Father: "I have a young man to be recommended as avice-president."
*President: "But I already have more vice- presidentsthan I need!"
*Father: "But this young man is Bill Gates'sson-in-law."
*President: "Ah, in that case...ok"
*This is how business is done!! *
Communication in Crisis
In last 3-4 weeks I have heard/read a lot about importance of effective communication in crisis situation. Leadership is crisis is a different ball game all together. So here is what should be done.
1. Show your commitment as management
2. Show your resolve to handle the crisis
3. Show Efficacy
4. Maintain credibility
5. Show your responsibility towared the community.
One crisis situation that happened is with company called AWID. News broke that AWID RFID readers were not FCC compliant. This is a big thing. You are breaking law here by not following FCC requirements. I think the management at AWID has really managed the situation well.
1. They immediately replaced the CEO
2. Management acknowledged the problem and stopped all sales
3. Within 2 weeks they came back and lifted self imposed ban on few products which did not have issues
4. They gave commitment that they will look into other issues.
I think they have done a good job. Lets see how market reacts to all this.
