What Mr. Toyoda (and any executive in a similar situation) should do now:
1. Develop your Message – Today! – The Prius was a groundbreaking achievement, Lexus is a leader in the luxury class, and Toyota has always been dependable; A week later, there is no message, which is a message.
2. Speak Publicly Immediately — You are simply taking too much incoming fire at this point; a member of the Toyoda family must speak, now, today, and every day going forward until this crisis is settled
3. Appear Publicly – Again, every day until this situation is calmed. At this point, there is no such thing as overexposure. None.
4. Show up where your customers are – I would recommend factories, showrooms, individual dealerships, etc. – not events where very, very, very few people have access to you — speaking at Davos and Davos only might have been worse than not speaking at all
5. Demonstrate Emotion – Pronto! – Set up a fund to assist grieving families that have suffered as a result of the malfunctioning pedals.
6. Get Media Trained – Immediately – Based on the statement Akio made at Davos, media training of all top execs is an immediate priority. Immediate. I understand that caution and the prevention of over-reaction were crucial, but that horse has left the barn, you need to address it now.
7. Follow your Crisis Management Plan — A lesson in advance for every other CEO out there — if you don’t have a crisis management plan in place, get one in place this week.
Fascinating. What would have advised Tiger to follow some of the same advice that you gave to Toyota; especially in light of his recent ESPN press conference? Thoughts on that and wheter it helped or hurt his quest?
[...] The week began with the social media storm surrounding GreenPeace, Sinar Mas and Nestle, playing out on Nestle’s Facebook fan page. There are new issues, a record fine and overall Washington troubles for Toyota (more on this here and here). [...]
[...] was a much better crisis response than Toyota has done in the past few months, however there are still things that Toyota, or more specifically, Mr. Toyoda, needs to do [...]