Apple Lecture - ManaginginaDownturn. Yes,EvenApple...

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Managing in a Downturn. Yes, Even Apple Financial Time Special Series  January 30, 2009 The New York Times Magazine February 1, 2009 
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“The first thing is character. .. before money  or anything else. Money cannot buy  it. ..because a man I do not trust could not get  money from me on all the bonds in  Christendom.” -  JP Morgan       1912 
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Fortune Favors the Well  Prepared • Warren Buffett’s Berkshire Hathaway • Davos Economic Summitt
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“Dr. Doom” is Vindicated At the World Economic Forum two years ago, Nouriel  Roubini warned that record profits and bonuses were  obscuring a “hard landing” to come. “I really disagree,”  countered Jacob Frenkel, the American International  Group Inc. vice chairman and former Israeli central  banker. No more. “Roubini was intellectually courageous, and he  called the shots correctly,” says Frenkel, whose AIG  survives only on the basis of more than $100 billion of  government loans. “He gained credibility, and he deserves  it.” http://www.rgemonitor.com/
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Communications Crib Sheet During a crisis, companies can uncover opportunity by adhering to  a few simple guidelines when communicating with investors,  employees, the press and the general public. Do not hide: not hearing from you will breed additional suspicion and  mistrust among stakeholders Gather relevant information and stick to your story: be as informed as  possible to reassure stakeholders that you are in control and in the  know. Switching gears or waffling signals insecurity Communicate early and often: both internally and externally. Keeping  employees well informed is a vital step to keeping your organization  on message with all stakeholders
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Communications Crib Sheet – Centralize communications: sending conflicting messages from  different areas of a company signals disorganization and  undermines stakeholder confidence – Get inside the media’s head: anticipate how the press might  spin first-hand or second-hand information – Choose communication channels thoughtfully: how and where  you say something is as crucial as what you are saying. During  a period of distress, scrutiny of corporate communications is  higher than ever as stakeholders clamour for information
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Communications Crib Sheet Communicate directly with affected constituencies: during times of  instability and uncertainty, people want to be reassured by hearing  information straight from the horse’s mouth Keep the business running: even in the face of upheaval, remind  stakeholders that you have not taken your eye off your primary purpose as 
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This note was uploaded on 01/31/2011 for the course MARK 380 taught by Professor Gerolius during the Spring '10 term at Loyola Chicago.

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Apple Lecture - ManaginginaDownturn. Yes,EvenApple...

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