Transparency in a Crisis
When China discovered the coronavirus in December 2019, they had a choice to make. They could try to bury the news, or they could be transparent and address the problem publicly.
Unfortunately, they decided to try to bury the virus for six weeks. If handled transparently, those six weeks could have prevented thousands of lost lives.
When crises surface in business, many businesses immediately consider, and fear, how their reputation may be impacted. This can lead to cover-ups and deception.
Transparency in business during crises requires courage, but the truth will surface eventually. The cover-up is almost always worse than the issue itself.
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