Episode 26: Boeing Nowhere Fast- Crisis Beat Podcast – November 17, 2024
Hosts: Brady Wood (PR Pro and Business Owner) & Dr. Mark Crowther (Chair of Medicine, McMaster)
News & Updates
Here’s what’s new
This episode opens with a quick update on ongoing stories:
- Donald Trump’s Teflon Nature: A brief election update on Trump’s resilience in the face of scandals.
- Cool Study on Crisis Perception: A study debunking the idea that we’re living in more dangerous times, despite widespread media coverage of crises.
- U.S. vs. Canadian Crime Rates: Despite media perceptions, both the U.S. and Canada have seen significant declines in crime rates over the past 30 years.
Main Event: Case Study - Boeing’s Crisis Management
A deep dive into Boeing's ongoing struggles, from safety and production issues to leadership changes:
Timeline of Crises:
- Lion Air Flight 610 (October 29, 2018)
- Ethiopian Airlines Flight 302 (March 10, 2019)
- Global Grounding of 737 Max (March 2019)
- Renewed Grounding in 2024
- Financial Losses (April 2024)
Impact on Boeing:
- Erosion of Trust & Reputation Damage: The crashes and the company’s delayed responses damaged public trust. Boeing has faced criticism for not being more transparent and empathetic during the crises.
- Financial Fallout: The company’s financial performance remains poor, with large losses attributed to labor strikes, production delays, and quality issues. Trust has dropped significantly, impacting both market value and reputation.
- Ongoing Scrutiny: Regulatory bodies like the FAA continue to scrutinize Boeing’s practices, especially concerning its 737 MAX and new aircraft certifications.
Key Takeaways:
- Reputation Matters: Boeing’s crisis management strategies, especially in response to the 737 MAX disaster, have shown how crucial it is to act with transparency and empathy during crises.
- Ongoing Challenges: Despite efforts to improve, Boeing still faces significant challenges in restoring its reputation and stabilizing its financial health.
- Leadership Impact: The new CEO, Kelly Ortberg, has a monumental task ahead in navigating these crises and rebuilding trust with both employees and customers.
Catch the full episode for more insights into Boeing’s struggles, leadership transitions, and lessons in crisis management!
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