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Corporate Virtue is its Own Reward

The Co-Op has admitted it made mistakes in the way it has been managing its corner shops – and this, rather than increased competition, led to poor sales. Instead of knocking the Co-Op, the conclusion in this Guardian article is that it is likely to recover commercially from its problems sooner as the result of its honesty, compared with Sainsbury’s which is not being so honest.

Why do most companies persist with the more usual, PR-based, approach to corporate disclosure, which is to insist that everything is just about perfect just about all the time…?