Reputation is very important.
It is even more important in Korea, where a hero can become a villain instantly.
Reputation in Korea is very fragile. Even the current president Moon who garnered
much praise is already being vilified (we should always pray for our leaders).
Today, I found out that Mr. Pizza and Hosigi Chicken franchisees are paying a high reputation cost because of the CEO’s scandals.
Wow, franchisees, almost lost 50% of sales after the CEOs’ sexual harassment scandals!
That is a real reputation cost!
I pray that there is repentance and change in corporate governance. I also pray that the franchisees will not be permanently impaired.