Monday, January 10, 2011

Bank of America provides a great lesson for any business

I read with interest about the behind the scenes work B of A has been doing in response to the possibility that Wikileaks could release embarassing documents about the bank. It reminded me of a quote from the CEO of Best Buy when he said "There's no such thing as an internal memo anymore." It's an important lesson for any company. Don't do something in secret that you wouldn't do in public. It's not worth it. If you do, it's kind of like building a business with landmines that could go off at any time. Simply put: you have nothing to hide when you're creating long term value!

2 comments:

  1. Anna:

    Good advice for all we do. Transparency is the best guard against these self-inflicted landmines explosions!

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  2. Hi Sandy, you are absolutely right! A good rule for any individual to live by too!

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