Crisis Management and Leadership Accountability

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In a crisis management situation, acknowledging the issue, having a top executive address the problem, taking responsibility, and overcorrecting are crucial steps. Maintaining brand image is vital, especially related to safety. Firing or asking the CEO to step aside is a common move in such scenarios, typically driven by the need to demonstrate seriousness to the market. Despite the circumstances, CEOs often understand the decision and acknowledge that accountability ultimately rests with them.

Scott and Ed break down Truth Social’s first couple days on the public market and question how Trump might cash out of his shares. Scott then takes a look at a report that reveals how ineffective corporate diversity, equity, and inclusion programs can be. Finally, Scott discusses the work of Daniel Kahneman, a Nobel Prize winning economist who greatly influenced how he thinks about money.