Blake Snow

content advisor, recognized journalist, bodacious writer-for-hire

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Leadership: It pays to apologize

Literally. Business 2.0 writes: “In a 2004 study of annual reports, Fiona Lee of the University of Michigan found that stock prices were higher one year later when companies blamed poor performance on controllable internal factors (i.e. CEO’s) rather than on external issues… Numerous studies have shown that consumers value an admission of failure and an apology.”

Regardless if stock price increases, taking responsibility is just good leadership.

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