The number of contests on social media that raise money for charities have increased significantly in the last year. This is partly due to companies and non-profit groups learning how best to use Facebook, Twitter and other online tools for marketing and fundraising.
But this causes new challenges. For instance, December 2009 JPMorgan Chase & Company fumbled its online contest to award millions of dollars to 100 charities. In fact, some groups publicly stated that Chase changed the contest rules to ensure those who do not fit its image would not reach the top 100.
This post will focuses on the viability of crowdscoring for selecting a winner as applied by Pepsi and Chase in recent charity contests and other critical issues, including business ethics, reputation management (watch the videos). [click to continue…]
Toyota’s worldwide recalls are devastating the firm’s reputation with customers, as well as its bottom line. Some have suggested that any further botching of the message to consumers could throttle the brand.
Vehicle recalls are grim, and tend to be announced on a Friday to minimize attention. Until now, Toyota has enjoyed a shining reputation for quality and reliability. This image has been hit by mass-recalls involving defective accelerator pedals and out-of-position floor mats, which can jam accelerators and have been linked to several fatal accidents. US sales tumbled 16 percent last month.
We outline four factors of inadequate management that exacerbated Toyota’s problems and suggest three steps to minimize the risk of Toyota’s loss of reputation for quality. [click to continue…]
