Asked by Lilinoe Kekaula-VanGieson on May 28, 2024
Verified
In a brief essay,contrast the handling of the Wells Fargo cross-selling issue and the Hertz corporate relocation issue.Your response should address the stages of the issue life cycle.
Issue Life Cycle
The stages an issue goes through from emergence to resolution, impacting public perception and management strategies.
Corporate Relocation
The process of moving a company's operations, headquarters, or a significant part of the business to a new location.
Cross-Selling
The practice of selling additional products or services to an existing customer based on their previous purchases or interests.
- Comprehend the principle and significance of managing issues within organizations.
- Examine actual crisis scenarios and assess how effective the strategies for communicating during a crisis are.
- Compare and contrast different organizational responses to crises, understanding the stages of the issue life cycle.
Verified Answer
HM
Hussein MasriMay 31, 2024
Final Answer :
Hertz addressed the issues management process early on--in the potential and emerging stages--prevented it from becoming a crisis and damaging the company's reputation.In contrast,Wells Fargo management did not intervene in the early stages when cross selling first surfaced as an issue,and the bank experienced a full-blown crisis as a result.As the crisis wound down and management and business practices were changed,the company entered the dormant stage,where it began to repair its image and move forward.
Learning Objectives
- Comprehend the principle and significance of managing issues within organizations.
- Examine actual crisis scenarios and assess how effective the strategies for communicating during a crisis are.
- Compare and contrast different organizational responses to crises, understanding the stages of the issue life cycle.