Crisis as a Turning Point
“Crisis is a word that is often mistaken to mean tragedy or threat. A truer understanding is that crisis means a turning point.”
Nice. While not written for business, the implications for businesses are real and aplenty.
Dominos faced a crisis with the realization their pizza lacked zest. They responded and changed course by changing their pizza recipe.
Toyota is facing yet another crisis associated with quality issues. Clearly, Toyota is at a major turning point. Fingers are being pointed that Toyota must change the course of its company culture to emerge from this mess a stronger and healthier business.
Remember, a crisis isn’t a distraction. It’s an opportunity. An opportunity to question business practices and an opportunity to make decisions so that a company can become beloved again.