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The net result? Stock climbed to a four-year high this month and has climbed more than 70% since Stewart went behind bars.
LESSON: If you stumble, turn to your PR department for
right "humble" moves to make. It will get you
sympathy vote and keep your stock value high.
<><> Publicity is Always Good <><> There is no such thing as bad publicity. Stewart made more headlines as a jailbird than she ever did as
guru of gracious living. She has had more opportunities than ever to put her message forth, and attracted
attention of an entirely new consumer base.
Aside from
curiosity seekers, Americans are a forgiving lot. Says Rob Stearns of
business school at Arizona State University and author of Winning Smart After Losing Big, "Americans will forgive high crimes and misdemeanors and impeachable offenses, but they won't forgive arrogance." With her well-oiled PR department and public acts of contrition, Stewart has this angle covered.
LESSON: When
media turns its spotlight on you, use it to your advantage to increase your customer base and brand recognition.
In
aftermath of tragedies like Enron and Tyco, and in a time when we need ethics, values, and soul more than ever, Stewart demonstrates that almost any lack of personal and corporate values can be forgiven if your PR department is good enough.
Stewart has shown us that success and fame are to be envied and sought after, regardless. She demonstrates that being a money hungry "control freak" behind bars is more newsworthy than anything that actually improves
human condition.
While Martha Stewart isn't to be blamed for
general condition of
media, we suggest that she will emerge from her jail time more hardened and media-savvy. But will she be more socially responsible (notice that her website www.marthastewart.com teaches people how to spend, shop, and consume more graciously than ever but remains mute on good-citizen topics like giving and donating)? And because she will be more of a role model than ever, what kind of values or
lack of them will she pass on to
next generation of business and public leaders?

Stephanie Yeh has spent many years in the business world consulting with major corporations around the world. She has also coached numerous corporate executives and small business owners on business strategy and management. Contact her at syeh@theartofbusinessbook.com access her work at http://www.theartofbusinessbook.com.