Now Is Not The Time For Bad Business Moves

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AIG used government bailout money that was supposed to help shore out the struggling insurance/investment giant to pay executive bonuses and avoid contract lawsuits, which could have but the company out of business for good. The right thing to do legally, but the American public, and its new President, are not happy.

NBC Universal finally found a new way to brand the Sci Fi Channel, and in few months it will just be SyFy. Seriously. With a new tag line of “Imagine Greater.” If you thought fan boy hate was reserved of geeks and comic book movies, search for some of the comments online about this one. The hate is coming on strong, and from plenty of people who were barely holding on the channel as it was.

Sometimes your company has to deal with bad timing. Sometimes your company has to deal with a serious gamble of a decision. As the economy continues to suffer, expect a lot more chances to test your crisis management skills while you have to explain your actions.

And make sure you are prepared for the backlash. Because its going to come.

Americans are losing money, jobs, and patience. American businesses are trying their best to adapt to the new economic world. It’s a frightful existence, and some very old companies with long standing reputations will not make it out of this.

So what happens when hard times come? People panic, leaders jump to a conclusion that they hope will get the best results with the least amount of effort and pain, and decisions are made that are meant to push the greater good, but looks more like the digging of their own graves.

Now is the time to make smart decisions that take advantage of the disadvantages of the current reality. Now is the time to continue advertising, so negotiate for new rates with your outlets that have taken good care of you so that you can continue to take good care of them. Now is the time to reach out to new, nontraditional customers to make up for the regulars you are bound to lose, but not alienate your current customer base that has gotten you this far. Now is the time to make sure the tough decisions you make are the right decisions, not just legally binding.

Now is definitely not the time for perplexing moves for the soul propose of generating buzz. There really is such a thing as bad press.


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