More sales problems at AIG
Posted by Frank Belzer on Fri, Mar 20, 2009 @ 05:53 AM
By now you are all probably disgusted and tired of the AIG situation. Politics and blame game aside the fact that these executives lacked the integrity and good sense to know that taking bonuses from their failing and government sponsored company is very telling.
Can you imagine what the sales culture was like at AIG? These attitudes and policies must have trickled down to the sales floor. Clearly these basic sales and business principles - ones we try and instill in our clients every day, were not being followed. Things like:
- Compensation plans that are not based on performance.
- Lack of Accountability.
- Lack of Integrity.
- Complacency Everywhere.
- Wrong people in the wrong roles for them.
- Short term focus and rampant "all about me" factor.
Now here is another question - these Exceutives received these bonuses in hopes that they would stay and help drive the companies recovery......mmmm. Let me ask you this; in light of this recent news who do you know that would buy or invest even a dollar in AIG? They have had days to right the wrong but instead they are all hiding and hoping this all goes away. I would venture that all the bail out money has been wasted because this terrible publicity will provide the last nail in the coffin. My guess is that these guys have no idea or desire related to how to do the right thing or sell the company out of this mess.
