“What does a crisis cost?” I’ve been asked that question a few times. Disappointingly, my answer invariably is, “It depends.” Part of the answer depends on the specific aspects of the crisis and the company going through it, but much more rests on the definition of “cost.” If we’re talking about...
Fortune magazine has recently launched a newsletter focused entirely on trust. They are framing it as “trust is the new KPI”. Just in case you’ve been living under a corporate rock, KPI stands for Key Performance Indicator. The Trust Factor is a “weekly guide to earning, retaining, and...
Bud Light. Disney. Mars Wrigley. Dilbert. The Super Mario Bros movie. Victoria’s Secret. Utah’s proposed new state flag. BlackRock. The U.S. military. Legos. Jack Daniels. Even Chick-fil-A. Accusations of “wokeness” have been flung far and wide so far in 2023. Is your company next? Are you ready?...
It’s not often that a brand can anger all sides of the political spectrum and take a financial hit but Bud Light managed to do that last week. And there has been a tremendous amount of analysis of the roots of the controversy as well as the response. Some have called it a failure of marketing....
The dust from the wreckage of FTX’s collapse doesn’t have time to settle before it’s stirred up again. The latest revelation – that one of the world’s most “admired” cryptocurrency exchanges was comically terrible at both IT security (the “crypto” part) and tracking funds (the “currency” part) –...
Many organizations seek efficiencies during times of economic uncertainty. For many executives, “efficiency” equates to reducing costs. Two of the most tried and true methods of reducing costs are eliminating headcount and cutting back on support services that do not generate revenue. Frequently,...
I was recently asked if I had any prediction for the “next thing” in crisis management for 2023. Without hesitation, I replied, “Systems failures.” 2022 ended with two epic system failures, and they threw a bright light on the potentially devastating impacts of scrimping on IT investment or...
I once heard a tech icon say “I don’t believe in God or government. I believe in the church of Silicon Valley.” That is all well and good until a U.S. Senator or three lettered agency takes notice. Just ask Ticketmaster or Google. While Senators Klobuchar and Lee’s weaving in of Taylor Swift...
This is a confusing economic time. Layoffs are happening but unemployment is at record lows. We are figuring out what the new normal is. It’s a lot to navigate as a business leader, and some everyday concerns are not getting the attention they deserve. Your reputation is likely one of them. So as...
I’ll bet every one of us has said something like, “I kept telling them this was going to happen, but I guess it just fell on deaf ears.” Their ears were tuned to another stimulus. German biologist Jakob von Uexküll defined the unique sensory environment an animal experiences as its umwelt. It is...
The damage of a crisis is not always immediate and not always front-page news. A couple of months ago, CTV News/Bell Media fired Lisa Laflamme, a national icon and trusted news source in Canada, because she stopped coloring her hair. It was sexist or ageist or both according to basically everyone...
If you’re ever looking for a way to kill a conversation, raise the specter of litigation. It’s more effective at ending a conversation than feigning death, belting out “Don’t Stop Believing” or pulling the fire alarm. Worries over litigation can stymie productive discussions over how to proceed...
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