Archive for April, 2012

Wal-Mart will bounce back relatively easily from Mexico Crisis

Friday, April 27th, 2012

Wal-Mart will certainly have reputation management and FCPA  regulatory issues to handle in the U.S. as well as internationally but it is unlikely the Mexico crisis will affect consumer buying or even much of the mega corporation’s bottom line depending on the management shake-up that follows the revelations.

This is not like News Corporation’s struggles, for instance, that ended with the closing of an iconic business division and key members of the management team being fired at the home market.

Wal-Mart will inevitably spend millions of dollars on reputational repairs and union redress or employee law suits may take advantage of this perceived weakness. The corporation must be extra sensitive to public scrutiny moving forward and make sure its operations are squeaky clean at other international locations. They would do well to report problems  (and proposed solutions to them) now before they are discovered by outside sources, like regulators or the news media.

Cause for Pause: Addressing “off-the-cuff” remarks

Friday, April 20th, 2012

High-powered individuals such as political types and business CEO’s at one point or another commit the offense of making “off-the-cuff” comments.  Such remarks usually go viral in a matter of minutes, creating a storm of criticism from offended parties and generating costly negative media coverage in their wake.

 

Yes, in high-stakes media interview situations, these “off-the-cuff” situations are bound to occur. What to do when they happen? Don’t be afraid to admit your mistake and don’t try to rationalize it away – it makes matters worse.  Clarify what you meant to say and how it could have easily being taken out of the context intended. This means vetting the language with your PR team to make sure you are effectively walking the fine line of not justifying the gaffe in the first place. Next, get the information in front of the audiences that matter most as quickly as possible.

 

How to rein in off-the-cuff remarks in the future? Stick to the facts. And know your key messages cold. It’s better to know them so well that you have interesting, lively ways to tell them versus grasping for a humorous or witty line to drive home a point (in a high-pressure interview, for example) that may rub your audience  the wrong way. Remember to ask yourself ‘how does what I am about to say fit into my key messages?’ and in those seemingly light-hearted, pop culture-type interviews (the ones laced with hidden slippery slopes) resist the urge to reach for a zinger but rather think ‘how can my comment add to or elevate the conversation  and not simply sensationalize it?’. Keep these tips in mind and those cringe-inducing “off-the-cuff” comments will lessen significantly if not disappear completely.