It is absolutely essential for a company to practice transparency in business these days. The overall importance of transparency should be a 10 in every companies' mission statement. We live in a world of easy to use technology and the internet makes everyone vunerable to negative public image. With blogs, online discussion forums and even Wikipedia, companies are forced to make sound decisions about how to publicize themselves. Anyone who has internet access has the ability to slander companies, and if they don't make an effort to nullify the statements, the rumors will build and inevitably hurt the earnings of the company.
A example of this is the effect that YouTube has on the internet marketplace. Last year a guy made a video about how terrible the Apple Mac computers are, and within 7 hours it was taken off of YouTube because Apple contacted him and bribed him with free products.
It is vital for companies to be clear about their financial earnings as well. Ever since the fallout from the Enron scandal has occurred, companies that fail to use judgement when dealing with money take the chance of losing their public goodwill and could also lose important investors.
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1 comment:
I'd not heard about the Apple case. I would think such a response could lead to disastrous copycatting.
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