Martin Winterkorn. Elizabeth Holmes. And now Samuel Bankman-Fried. It's easier than ever for CEOs to hide nefarious activities that would otherwise cause consumers to stop purchasing their products or services. Here's how they get away with it.
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It's not all that shocking that with the rise of social media and big data, CEOs can hide many activities that would otherwise cause consumers to stop purchasing their products or services. What is shocking is just how many CEOs have been lying or deceiving the public and shareholders about the health of their companies.
An HBR study showed that over one-third of executives believe CEOs should be held legally responsible for being dishonest or misleading regarding topics like sustainability and ethical business practices, but this still doesn't stop them from doing it.
The collapses are based on throwing out age-old wisdom to fleece millions with new-age Ponzi schemes.
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A false narrative is when CEOs and executives of a company create and propagate a story to their stakeholders and the public that misrepresents the actual situation of the business. This can be done in different ways, including making false claims about the company's profitability and success, hyping up faulty prospects of future growth, and more.
Unfortunately, this false narrative...
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