Business in crisis: Ayala Land shoulders hospitalization costs
When you’re in business, you can’t afford to do an ostrich reaction to crises. No matter how much you long to stick your head in the sand and hope all that bad news will go away, the honorable and ultimately more business-friendly decision you can make is to show a grieving face and a generous hand. Ayala Land this afternoon suffered tremendously from a bomb blast in its popular Glorietta mall. Around six hours after, a sincere spokesperson went on television saying the company will take care of all hospitalization expenses. He says that Ayala’s insurance broker will make sure there is no paperwork needed. Huge expenses, yes. Timely and responsible, yes. If you look closely at business crises in the past ten years, these matter, especially in the long run. Petron’s Guimaras debacle has hurt the company mostly because it took the company quite a long time before issuing an official statement. In contrast, Lance Gokongwei’s prompt assurances during the Cebu Pacific Air plane crash a few years ago allowed the public to forgive the company much faster. It’s all about how your name and brand is your best asset. You need to protect it, especially during a crisis. A maze exhibit in Glorietta mall in better days. (Photo: AFP).
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