How Businesses Recover from CR Missteps
Some days, it seems that the mainstream business media headlines are all about scandals, fraud, hoaxes, and just plain bad corporate behavior. Much less often, there are stories about what companies do to recover from the financial, operational, and reputational damage caused by poor CR practices. A blog by Linnea Texin for Corporate Citizenship recaps the Nike case from the ‘90s and, based on that example, spells out three steps companies can take to make effective course correction re. substandard labor practices: 1) take responsibility, 2) take action to improve, and 3) be transparent. Sounds elementary, but when you dig into the details, it’s a deep topic. Given those constant bad news headlines, the field of corporate reputation management looks like a growth opportunity.
John Howell, Editorial Director
Special Announcement: 10th Annual CR Reporting and Communications Event Adds New ESG Symposium Track