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We Need Candor Most When Times Are Tough

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.” 

He disclosed all of this and his stock price increased. 

In Their Own Words is recorded in Big Think's studio.

Image courtesy of Shutterstock

 

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