This Week’s Focus: Do the good people of Goldman Sachs really see their clients as ‘muppets’ that should be seen purely as a means to earn your profit bonus, as alleged by former employee, Greg Smith? I have no idea, but I’m sure that you, like all business leaders, have at some time felt the pressure of balancing customer needs with profit targets.
It’s perhaps too easy in a newsletter like this to say you should always put the customer first, so let me put it this way: the modern world of social media and 24/7 media makes it impossible for you to hide the truth forever, or, probably for very long – just ask the (former) executives of BP, Toyota, Enron and Olympus.
The reputation of your business is likely to be its most valuable asset – but it can be destroyed in seconds. When your business is under pressure to hit profit targets how do you take the risk to your company’s reputation into account?
Off The Record: You Know I’m No Good by Amy Winehouse
I cheated myself, like I new I would
I told you I was trouble
You know that I’m no good
© Stuart Cross 2012. All rights reserved.