All entries for Sunday 27 October 2013

October 27, 2013

Forget to tell a good story, Be a better Company

I have read an article on HBR (Harvard Business Review) which explains how Walmart (world’s second large public corporation according to Fortune 500) has an achievement on society results.

With respect to EFQM, excellent organisations achieve and sustain outstanding results that meet or exceed the needs and expectations of relevant stakeholders within society. Generally companies hire PR people in order to prevent awful headlines. Then, CEO shows up and tells “We are misunderstood and we should need to tell a good story”. Do not tell a good story! The public can embrace company if CEO shows up and makes pretended press-conference instead of criticizing company according to mistakes.

After the deadliest and destructive hurricane Katrina hit many houses and killed 1883 people, Walmart provided meals, cash, emergency supplies by trucks. Those were the right things to do.

walmart1


walmart2

And Walmart set big goals in areas such as sustainability, women’s economic empowerment, and more-healthful food. So giant companies don’t achieve enormous revenues or market-share incidentally, they take 360-degree approach to the work, engaging entire supply chain, customers and communities. The multinational big companies take on high risks, because their sales. It means that negligible failures can create terrifying outcomes from the society’s perspective; they can lose great revenues suddenly. According to article, taking on large social issues can be compatible with building a stronger business, and I agree with. Instead of telling a better story to public, be a better company in terms of society like Wal-Mart.


EFQM has 4 results which are customer, people, society, and business results. Especially in the retail stores like Walmart or Home Depot, society results have a high impact on customer’s choices, because they address with end-users who care about environment and humanity. EFQM measures could include perception of environmental impact, image and reputation, societal impact, workplace impact, and awards and media coverage. Those measures give trust company to reach more people and sell more products.


October 2013

Mo Tu We Th Fr Sa Su
|  Today  | Nov
   1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31         

Search this blog

Galleries

Most recent comments

  • Good point Nihat, It seems like many organizations still do not realize that by ignoring safety stan… by Shujaat Alikhan on this entry
  • Really on the same page with you about how the value–led concepts of CSR should be more incorporated… by Shujaat Alikhan on this entry
  • Very helpful website. Many important update information is here Thanks www.laptopforus.com by Md. Moshiur Rahman Parvez on this entry
  • Kleanthis what i meant was not different from our mutual thoughts of leadership in general. However … by Jazz on this entry
  • Mate do not get me wrong there was no intention to start a political conversation. I just wanted to … by on this entry

Blog archive

Loading…
Not signed in
Sign in

Powered by BlogBuilder
© MMXX