BUSINESS ESSENTIALS VOL 4, NO 16: SPECIAL EDITION
Dear Esteemed Member,
The Annual General Meeting and 60th Anniversary Celebration of your Association held on 11th July 2017 at NECA House. The Honourable Minister of Budget & National Planning, Senator Udoma Udo Udoma; Labour and the Honourable Ministers of Employment, Senator (Dr.) Chris Ngige; Country Director of ILO, National Presidents, NLC & TUC, among others graced the occassion.
In this Special edition, we present the full text of the Keynote Address by the Hon. Minister of Budget and National Planning, Senator Udoma Udo Udoma, CON at the event. We also shared pictorial highlights of key activities at the event.
As you are well aware, your Association had instituted legal action against the Consumer Protection Council (CPC)’s illegal imposition of compulsory registration on NECA’s member-companies’ products and services with it. The Federal High Court within last week ruled in favour of NECA’s prayers. We had since shared the judgment with members through a general circular which is reproduced in this edition.
Have a pleasant reading.
In this Issue:
- Keynote Address Presented by Senator Udoma Udo Udoma, CON at AGM & 60th Anniversary Celebration of NECA
- General Circular: Judgment Against The Consumer Protection Council (CPC)
- Pictorial View of NECA’s AGM & 60th Anniversary
|MANAGEMENT TIP OF THE WEEK
Companies Should Be Transparent About Their Crises
When a company faces a crisis, there’s often a temptation to hide it, in the hope that no one will notice. Research shows this is always a bad approach. Attempts to sweep incriminating information under the rug will attract extra attention if and when the crisis surfaces, further damaging your company’s reputation.
It’s far better to get out in front of a crisis and do what’s called “stealing thunder”: self-disclosing the problem before the media gets hold of the story. This is not just more ethical; it’s more sensible, as well. Here’s why: Self-disclosing increases the credibility of your spokespeople and your organization.
When a company breaks the news about its negative event, the problem can appear less severe. Consumers perceive any subsequent media attention about the crisis as a follow-up — they think, “I’ve already heard all about this” — and therefore pay less attention to it.
Adapted from “Companies Fare Worse When the Press Exposes Their Problems Before They Do,” by An-Sofie Claeys, Verolien Cauberghe, and Mario Pandelaere
When: August 8 – 10, 2017
Facilation Course for Managers
When: July 25, 2017