so many scandals in major businesses these days.
The 7-eleven wage scam (where they regularly and knowingly made workers work double the hours they were paid for)
the VW scandal now (where they purposely created and installed technology to cheat the emissions restrictions testing)
there are a few of these things happening now, where major worldwide corporations are undoing massive fraud. Its different to the Google/microsoft/apple tax stuff ... that is trying to apply legal loopholes or a pricing structure that is unfair ... but its not actually criminal activity.
Can companies recover from this?
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Results 1 to 10 of 10
25-09-2015 09:34 #1
Good Corporate Citizenship ... a thing of the past ???
25-09-2015 09:58 #2
I don't know.
I could never justify buy anything from a 7 eleven again. I used to shop at daily when I was in Melbourne. Now I will walk the extra mile and go somewhere else.
26-09-2015 04:18 #3
Not sure but I know people have less tolerance than ever before for this sort of thing.
Just watched the Enron doco, takes it to a whole other extreme. But easy to see how it happens, especially in larger corporations where nobody seems to be accountable. :-/
26-09-2015 04:43 #4
The VW thing has blown my mind. I honestly can't believe they ran with it. I work in a quality control lab and no way would they go with any illegal short cuts I came up with. I would hate to the anyone in that company in on it.
I was wondering the other day if the person who redesigned the glad wrap lost their job. It must have cost the company millions. Not illegal though, just a spectacularly bad idea.
26-09-2015 06:47 #5
Yes they will recover from it. We've seen it before.
Probably a good time to buy shares really!
26-09-2015 06:49 #6
wonder if it's a good time to buy a VW?
26-09-2015 06:50 #7
the brand will take a beating and the share price will get hammered but yes, overall I think they'll come back from it. it's pretty shocking when you think about it though.
26-09-2015 07:59 #8
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Wise Enough (26-09-2015)
26-09-2015 08:24 #9
Not Australian but I watched a doco about Walmart and I know that should they land in Australia, I will never be taking my business there. So I guess it's true that the brand takes a beating after scandal and light being brought to their ethics etc.. But not everyone cares about that so for the most part I believe they will survive.
26-09-2015 10:14 #10Senior Member
- Join Date
- Oct 2010
My view, is that the media only really report the bad stuff. I work for a Global Corporate whose brand is often dragged through the mud because of the industry they operate in and an incident that occurred several years ago, which again the media only reported the juicy bits, not the whole story. I see day in, day out the great corporate citizenship of my company - they do a lot for charity/minority groups and work hard to give back to the communities they operate in that never gets reported. They are also have very high ethics, values and standards around the way they operate etc but again this never gets reported. The company works very hard to empower woman, and recognise working parents and their responsibilities outside of work, literally bending over backwards to help employees juggle work and family lives, another elements that I think is a great sign of a good corporate citizen. So yes, I do think there are still many great corporate citizens - but I just don't think that's interesting for the media to report on...
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