Lots of people say, “I can be authentic.” When times are good that’s very easy. But what happens when the economy tanks and their business sales are down? Is that a time when it pays to be authentic and show candor?
I have learned through my corporate consulting that it’s absolutely more important to be candid during those difficult times than in easy times. But it’s not easy. Recently I worked with a CEO who was having this kind of problem. He had invested in a solar enterprise and they were having some problems with that. But you could see that it was a short-term problem. And he decided to be very forthright and explain exactly what the problem was. “This is what we know. This is what we don’t know. And I will tell you as soon as we do know.”
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He disclosed all of this and his stock price increased.
In Their Own Words is recorded in Big Think’s studio.