Saturday 18 August 2012

Nowhere to hide!

One of the big themes of the 21st century is the free flow of power transparency and control of information to the consumer.  KV Pharmaceuticals were granted exclusivity by the FDA on a life saving drug that used to cost $20 but they raised the price to $1500.  They were called out for unconscionable behaviour in a Facebook campaign and are now in Chapter 11 bankruptcy.

The consequences for KV were dire but the principal applies to all companies everywhere.  The internet leaves you nowhere to hide if your price, service, fulfillment, social or ethical behaviour, environmental policies - whatever does not meet with acceptable standards you risk being found out and publicly called out by your customers or commentators.

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