This article is the first in a two-part series on corporate reputation and social responsibility.
A few years back, David Frishkorn had to deal with what he calls “perceived accounting shenanigans.”
His employer’s business model was based on its ability to borrow money at a low cost, an ability that depended on its good reputation. Unfavorable perception caused the company’s low-cost borrowing to evaporate almost immediately. Frishkorn and other managers cut costs to arrest financial losses and then changed company policies to align them with corporate values and restore credibility in the long term.
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