Wednesday, October 25, 2017
Power Vanishes
It is a truism that companies with great power in the marketplace might not stay there long. We have two examples now - Nike and General Electric. It is no overstatement to say both were fearsome competitors and unbeatable for decades. Now, they are trying to find their way. This happens because the world doesn't stay the same. As events evolve, companies must react and change with them or fall behind. Nike's competitors have caught up with it. General Electric, which was a bank under Jack Welch, ran into trouble in the 2008 financial meltdown and hasn't recovered since. PR practitioners should keep these examples in mind when promoting their organizations. It is dangerous to be too effusive. Boasting is a ticket to humiliation eventually. Marketplace power vanishes as quickly as it came.
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