Corporate Culture and Culture Case Study

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While there will be high costs associated with past actions, the company is going to have less influence over these costs than it can have with respect to its present and future actions. In other words, the biggest negative variable comes from the damage that will be done by this going public. Sears needs to contain that damage. They need to break the story to the media, and they need to appear to be cooperating fully with the authorities. They need to recommit themselves publicly to the best interest of their customers especially. The company needs to appear to be proactive in dealing with this issue, in order to minimize the negative elements of the publicity. The CEO must take a public leadership role so that it is understood how serious they are taking the issue.

The third element of the solution is that Sears needs to devise a legal strategy. While it does want to cooperate with the authorities on this matter, Sears is also going to need to work hard to minimize its damages. Once it has gathered its facts, Sears needs to work with the authorities to strike some sort of plea. The most important aspect of this will be to limit the ability of private individuals to file suit against the company, either individually or as part of a class action suit. The damages from private suits are going to be far more severe than from government prosecution, so Sears needs to find a way to minimize the possibility of private legal action.

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The fourth element of the solution is that Sears needs to address the cultural issues that created this problem. Certainly some people will need to be removed, as the company's practices were known to be illegal. But beyond this, the company needs to reconstruct its communications pathways, alter the corporate culture with respect to ethics and accountability, and focus on ensuring that the underlying issues that contributing to the growth and festering of this problem are dealt with.

Comments/Thoughts

Sears is facing a difficult challenge, and it needs at this point to be in survival mode, taking the best interests of the shareholders into account. The company needs to be honest about its mistakes, and confront those errors head on. At the same time, Sears management needs to protect the company as much as possible from damage, because that damage could all but bankrupt the firm. This requires that the company learn everything it can about the issue, take a leadership role in dealing with the issue, and devise a comprehensive set of both short- and long-term solutions......

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