Be Honest

The reason many corporate fall, is due to dishonesty, which might be at any level of the hierarchy. Even in case of trouble, it is best to be transparent with the employees and the board; as you never know who might offer the ray of hope to recover. Transparency would ensure that you are always in the good books of the stakeholders, and they would stick with you till the end. Though it is tough to disclose the details in cases where the company is not doing good, but isn’t it better to inform people when they still have a chance to make things better, rather than informing them when there is no hope to recover? Thus, be honest with others and with yourself—and no exceptions.