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this post was submitted on 12 Jun 2024
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There’s nothing inherent to running a business that implies cannibalizing one’s own brand reputation for short term profits. That sort of behaviour reeks of an inexperienced and perverse management culture. You can find countless examples of businesses where the brand’s reputation for quality, reliability, and safety are considered sacred and any employee who publicly damages that reputation is ostracized. Japanese companies pretty commonly have these cultures, for example.
They replaced their management, who were mostly engineers with MBA’s, to business majors with MBA’s who worship Jack Welch. The IQ in the room plummeted as the ghost of Welch demanded sacrifices for short term gains so they might one day get their golden parachute.
True but only for a snapshot in time. When the expectation of the environment is unlimited growth and profit above all else, the quick cash out in lieu of long term gains is inevitable sooner or later
Oh outside of the USA yes, I can see that... In the USA, I think I would count such examples with 1 hand (talking about large companies and corporations, not Mom and Pop shops of course)
Generally a business runs for profit. They teach people in business school to maximize profits. So there kind of is something inherent to running a business that implies cannibalizing one's own brand reputation for short term profits. There is always that incentive to give the least amount for as much as you can take.
Japanese have immortalized a concept called "Black Company" and "Death March" where they push their employees into so much overtime that they literally die or risk losing their livelihood. Which is probably not great for long term or their reputation.
It’s called “Wall Street”.
That's true that shareholders and stock evaluation are main drivers for this phenomenon, but Private Companies aren't necessarily more saintly than companies with Public Offerings.
True, but in my experience, selling stock publicly is the ticket to hell. No matter how much of your company you think you still own, you’re going to be driven to make higher profits every quarter, no matter the cost. If you don’t comply, they will replace you with someone who will.
Countless examples? I can't name ten.