Business 2.0 brings us a tidbit comparing companies who, when things go bad, step up and take the blame aginst those who start pointing fingers (like Overstock.com, GM ad Air Canada).
A study shows that one year later, stock prices were higher at the companies who took the blame.
“But the strongest argument in favor of taking responsibility is that it’s good leadership.”
It’s easy to point the finger at someone else. It’s hard to step up, say you’re sorry and fix the internal problem.
FYI – The name of the article is “Double Down on Execs Who Own Up,” by Jeffery Pfeffer in the April edition.