Skip to main content

Did CEOs knew this is coming ?



The air was ripe with the fruity flavours of pomegranates and berries, while the sturdy mountains of Teheran were still capped with snowflakes. The flamboyant and modernist ruler of Persia, Shah Mohammad Reza Pahlavi suddenly fled his vast kingdom in the face of emerging opposition from the conservative Islamic cleric Ayatollah Khomeini. Shah’s escape overseas marked the end of 2, 500 years of Persian monarchy in Iran and the beginning of hard-line Islam, and a revolution that was to plunge the nation into the throes of chaos and unrest. Why did the mighty Shah flee so suddenly like a deer encountering a hungry lion? Perhaps he had predicted the tumult his country would undergo thereafter…Perhaps he had gauged his declining popularity…Perhaps he knew he could do nothing to stop the spread of hard-line Islam and that of the Ayatollah. Was it his intuition? Or premonition? Or a vague hint about the conspiracy that was to transpire?

Fast-forward 41 years and the winter months of January and February to be precise. The Chinese, Japanese and Koreans were reeling under the onslaught of a common enemy. An invisible enemy that appeared almost invincible. As the Asians battled with weapons that proved meagre, this enemy spread its tentacles to the rest of the globe, forcing modern-day governments to tackle it the contemporary way. That is by enforcing quarantines, imposing travel restrictions and debating lockdowns. And at that exact moment, fearing large-scale upheaval, just like Shah Pahlavi who knew it better to escape than confront his enemy, contemporary kings ran away leaving their corporate kingdoms in disarray.   


Match Group Inc. Chief Executive Mandy Ginsberg resigned citing personal reasons, quickly followed by Virginia Rometty, the IBM CEO. Disney CEO Bob Iger stepped down before his term end, while Harley Davidson’s CEO Matthew Levatich resigned after a 26-year stint. LinkedIn CEO Jeff Weiner, who had shepherded the company through its IPO and its acquisition by Microsoft, resigned too. Joining these CEOs was Les Wexner, one of the longest standing CEOs of a Fortune 500 company who gave up being the Chairman and CEO of L Brands after selling a 55% stake in Victoria’s Secrets. These high-profile resignations happened within January-February 2020, when the coronavirus was eyeing a global pandemic transformation vouching to uproot economies. Why would so many CEOs resign in quick succession? Is it a coincidence? Or did they already know of the extent to which this virus would wreck devastation? Just like Shah Pahlavi knew of the upheaval a religious cleric would cause…


Coronavirus has indeed halted every activity not deemed ‘’essential’’. Businesses are closing down, while consumer spending is witnessing sharp drops pushing markets towards a recession. Central banks in multiple countries have or are cutting rates. Oil has slumped to $26.22 per barrel, the lowest since 2001. The Organisation for Economic Co-operation and Development (OECD) has downgraded GDP to a mere 2.4% in 2020. Furthermore, the virus is said to cost the global economy upto $2.7 trillion, as per Bloomberg Economics. Yes…economic doom looms everywhere.

It is believed that the higher ups always have an inkling of what is to transpire. It is those at the centre and bottom of the pyramid that are often clueless and left to fend for themselves in tough times. Just like the gullible people of Iran in 1979 or the naive employees of these mega-corporations in 2020 that now have to steer ahead a rudderless ship or wait it out till a new captain is stationed to help them navigate the rough waters.   



An afterthought: Did those who resign do themselves a favour? Is it right to walk away in the face of war? Or is it wiser to hold forth, stand strong when confrontation strikes and chart out novel methods to trounce the challenge? History, especially Indian history is replete with monarchs and leaders who have time and again withstood challenges and emerged wiser and smarter. In today’s digitized world, being smart in a given. But holding on instead of withering out in the face of challenges is something only visionaries do.

Labels:

Comments

Post a Comment

Popular posts from this blog

Why is digital marketing important for Medium and Small Enterprises ?

One of the key differentiators of the success of a business is the number of customers that it can reach as more customers mean more sales volume.   One of the technological innovations that helps a business in this direction is digital marketing . It is indeed a boon for MSMEs as it lets you reach your target audience with ease, simplicity and at very low cost. Cost is always a concern for most MSMEs. Why would anyone not want to use the power of the internet with over 3 billion users to further the cause of their own business? But it is a fact that deploying digital marketing for their own benefit seems a herculean task for many MSMEs as they feel that they are not adept nor attuned for the digital world, they also tend to think that they will not reach their target market or they simply do not have adequate information, lack sufficient human resource and tools to manage the digital world. Here is where organisations like Outsourced CMO can help these MSMEs bridge the
167 comments
Read more

Do marketers need to worry about job losses in AI dominated future ? (Part 1)

The age of AI driven automation is well and truly upon us. Pizza Hut is experimenting with robots called Pepper and virtual assistants like Siri and Alexa are a reality now. According to Pizza Hut the experiment with Pepper will not only make the customer service faster and more efficient but will also make it easier for people to customize their orders. The company expects a reduction in customers’ wait time for orders and far superior and personalized user experience. This does indeed represent a threat to the first line of marketing personnel.   Although it is equally true, that Pepper has not been so successful outside Japan, where it is sometimes available at hotel lobbies as a virtual concierge and was actually fired from a Scottish grocery for less than satisfactory performance! But this can be seen as a step in the learning curve for AI controlled robotics and as we all know that this learning curve is indeed quite sharp.   Marketeers are confused as to h
6 comments
Read more

“OUTSOURCED CMO” is now registered Trademark

Simplicity is the key in today’s brand world. Keeping it in mind along with collaborative consumption mindset, brand   OutsourcedCMO   has helped companies gain recognition within various markets and continue to do so.   And now, to protect our identity and exclusivity, we have registered our brand name ‘Outsourced CMO’ – Yes, Outsourced CMO is registered now ! This means we at Outsourced CMO hold exclusive rights to use this brand name and no person/firm can use it without our permission. The goodwill and trust we have built over the past years helps in differentiating and separating our services from other players in the industry and this step will protect it for us and companies who hired us. The registration process protects any infringement as per the Government of India and will bring on legal hassles for infringers. Since Outsourced CMO strongly believes in the concept of shared economy, we at Outsourced CMO strive towards lowering marketing costs, strengthening commun
6 comments
Read more