If you are the CEO, what specific concrete steps would you take to restore the company’s reputation if it’s been dirtied? Why are these steps important?
Going by the case, I do not see any reputation hit or dirtied on Lincoln Electric due to below reasons:
1. Even at their toughest time they have not laid off any employees.
2. Loyalty was not expected only from the employees but also given from the employers side.
3. Employee empowerment was quite high.
4. Emphasizes was given on communication between employees and senior managers
5. They have been a live example for the word "Integrity".
6. They have proved that values stay ahead at all centuries
7. They were high on ethical standards
If I was the CEO, specific concrete steps I would take to restore the company’s reputation is as below:
1. Communication: The first thing is, I would showcase and communicate to the outside world how Lincoln electronic has stood tall even in the darkest times.
2. Brand: Build the brand value by emphasising on how it valued its employees loyality.
3. Financial statements: Announce the financial statements of profit to its investors. Also communicate effectively on how it shares its incentives with its employees
4. Culture: Maintain and pass on the same culture which it has currently and not make any unnecessary changes to it.
These steps important because:
1. Lincoln electrics has been an excellent role model for other organisations. Without communication with outside world this should not go unseen or unnoticed.
2. In order to attract more efficient talent building a brand is compulsory in this era
3. By showcasing the financial statements, Lincoln can actually prove its come back in the market.
4. Finally It is the excellent culture which has protected the organisation and hence for a good reputation this should not be touched or changed.
If you are the CEO, what specific concrete steps would you take to restore the company’s...
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