- May 21, 2020
Week 5 topical forum
Week5 topical forum
Week5 topical forum
Usefuland resourceful information is the key to realization oforganizational goals. However when information loses its fundamentalcharacteristics then it lacks integrity hence misleading (Vigo,2011).An example in workplace where information lacked the basiccharacteristics was when an allegation was made that a certain bankwas shutting down. This was inaccurate information since the assetbase and current liquidity was very strong. Since, banking industryrides on reputation, such inaccurate information stirred volumes ofcustomers to withdraw massively their savings within a very shortspan of time. The reflex action was rapid and swift massivelytransfers and withdrawals from respective customer accounts. In justa matter of hours, the bank’s balance sheets posted a possible signdue to dangerous liquidity problems. It took the efforts of the topmanagement of the bank to approach all newsrooms with counterinformation to correct the inaccuracy. The harm caused by suchinaccurate position left big margin to be covered to restorereputation and initial financial position of the institution.
Thefinancial difficult position would have been improved if theinformation served would have been authentic and correct. Themisleading information tampered with the liquidity stability of thebank within a very short time. However, had the bank continually beenon the media promoting its image and commitment of excellent service,such a scenario would not have come up. Continuous advertisement andproduct promotion from the PR department of the bank would haveserved as a therapy to such misguided information. Timely release ofthe current financial position and mission of organization needed tobe communicated to the larger public continuously. In the event, suchposition would have been accurate then the bank would not havereceived such a huge shakeup.
Vigo,R. (2011). Representational information: a new general notion andmeasure of information. InformationSciences,181,4847–4859.