Tiger brand, which prepares its relaunch after losses by the scandals of Tiger Woods, is one of a long list of trademarks return refreshed after rehabilitation. This includes the predictable list of celebrities like Martha Stewart and Kobe Bryant, and solid corporate citizens such as Johnson & Johnson and Coca-Cola. These scandals have become commonplace in the corporate landscape, thanks to the toxic mix between Globalization, which spreads business activities everywhere, and the Internet, which irrigates the bad news like wildfire. The probability of facing a corporate disaster in a period of 5 years is 82%, against 20% two decades ago.
The key to a successful revival rests on an evaluation with a head cold, as the scandal has damaged the company, making two fundamental questions: 1) If it is a matter of life or death and 2) if their effect has spread beyond specific products or divisions to affect the corporate brand. If the answer to both questions is yes, then companies should implement a double collective strength, otherwise you can experiment with more nuanced responses, such as removing a contaminated product or sacrificing a division that has acted improperly.
There are two important rules in the successful management of a crisis. First, the boss has to take charge, apart from lawyers (who only think of the potential demand) and financial officers (too worried about the bottom line) and putting the survival of the company above personal considerations. The second rule is that firms in difficulty must redouble its focus on customers. The companies have a habit of focusing on themselves when their brands are in trouble (talking about how they are fixing this or reorganizing that), but the greatest success is doing what most satisfies the customer.
The crisis marks can give a boost to long term, provided that the rehabilitation is handled appropriately. Coca-Cola emerged stronger in 1985 when in response to broad consumer dissatisfaction, reverted to the original formula at three months. Tiger Woods could also do well, emerging with more luster of their own debacle. There is nothing that Americans love more than a story of redemption, especially when redeemed who is supremely good at what he does. Froylan
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