A leader must accept responsibility for his actions. Under these difficult circumstances, the stakeholders in the company and the general public would expect to see directly in front of the leader they discuss and demonstrate responsibility.
When the American car giant Chrysler faced financial difficulties in the 1980s, the recovery was led by Lee Iococca who led the restructuring and massive savings, selling Chrysler-owned business that continues to lose money in Europe to Peugeot.
He also revitalized Chrysler product lineup and at a critical time successfully lobbied the US Congress to ensure that the loan will allow the company to stay afloat. Press ads first attempt to win the hearts of the public and government opinion to the plan loan guarantees under the headline, “Will America be better off without Chrysler?” The ad contains Iacocca signature.
Iacocca said, it wanted to show people that a new era has begun. According to him, the chief executive of a company that is going bankrupt have to convince people to declare the principal executive responsible for the company. And to show that “I’m really serious, I signed the line to mark that point.”
In the long term, said Iococca, it will be able to convey that there is a responsibility on Chrsyler. “By affixing my signature in the ad, we invite people to contact me about the complaint and question them. We announced that a large and complex company is now run by someone who put the name and reputation in the ad.”
While financial companies began to improve, Iacocca launched a consumer advertising campaign that raises itself, promoting the company’s products. The ads use the slogan “the Pride has returned” to show what is then a characteristic Iococca motto: “If you can find a better car, buy it.” Consumer confidence is rising rapidly to Chrysler.
A leader is responsible for everything that happens in the company. When things do not go as they should, the leader must show responsibility and present in front of the public through the media. Companies where there is no leader who can be held liable regarded as a company that does not have a leader and walked aimlessly. Nothing can replace the responsibility. When leaders managed to show themselves in companies, consumers and stakeholders put their trust back since witnessed a leader who appears, someone who bears responsibility for the whole range of the company.