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Losing Customers Trust is the Worst Penalty VW Will Face

Beyond Philosophy

I find it beyond belief how large organizations can cheat and lie to their Customers. I had thought the banking crisis was the pinnacle of organizational stupidity but then last week we hear Volkswagen (VW) lost 30% of their value. Because they lied to their Customers. But the biggest penalty is yet to come.

Banking 406
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VW To Buy Back Cars And Learns Cost Of Lying

Beyond Philosophy

Although the stock price rose after the announcement, VW’s troubles are far from over. VW was responsible for cheating on emissions test for over 11 million vehicles worldwide. They are still facing a substantial civil suit from the U.S. If you can’t trust the brand, you can’t trust the brand promise.

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VW To Buy Back Cars And Learns Cost Of Lying

Beyond Philosophy

Although the stock price rose after the announcement, VW’s troubles are far from over. VW was responsible for cheating on emissions test for over 11 million vehicles worldwide. They are still facing a substantial civil suit from the U.S. If you can’t trust the brand, you can’t trust the brand promise.

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Fiat Chrysler: The Latest Car Brand to Wreck Consumer Trust

Beyond Philosophy

Isn’t it a company’s first priority not to harm their Customers? I maybe old fashioned but surely ensuring your Customers’ safety is your BIGGEST responsibility as a brand. They were fined $105 million in civil penalties because of “ lagging efforts to address safety defects.”. In Brands We Trust—Until They Disappoint Us!

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C Suites Shudder As Panama Papers Go Online

Beyond Philosophy

Boardrooms across the world are shuddering as the Panama Papers are put online, allowing both employees and Customers to view their integrity – or lack of it! This is another reputational issue which affects the engagement of employees and Customers. Brands need to ask themselves hard questions about tax avoidance. taxes on it.

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10 Best Career Advice Blogs of 2015 – In case you missed them

Beyond Philosophy

Be careful about policies you issue that are focused on the organization and not on the Customer. Uzbekistan Airways decided to weigh customers before boarding their flights for “safety reasons.” 8: Losing CustomersTrust is the Worst Penalty VW Will Face. . #8: You’re welcome. #6: