Entrepreneurial success attracts criticism and scrutiny especially if it seems that it’s achieved at the expense of a group of people or entities. The negative sentiment may harm the company in the long run.
While I don’t think that oil companies are entrepreneurial in nature, the situation they’re in is one that successful entrepreneurs will come across one day so it’s best to learn and draw lessons while the going is well.
Oil companies have an image problem. In a CNN poll entitled “What is to blame for high oil prices?”, 40% or the majority of respondents answered: the big oil companies. What caught my serious attention was that the poll had 110 059 responses when I read it!
If that’s not a good measurement of public opinion, I sure do not know what is.
Big oil companies continue to post profits and that infuriates the public who feel that they’re being taken advantage of. I really don’t know the reason behind the oil price hikes but if the big oil companies are not the culprits they should do something about the negative public perception.
Big oil companies feel shielded from such sentiment because they have the lobbies, lawyers and all type of muscles to stay on top and feel that they do not need to address the PR nightmare they’re don’t seem to care about.
Dear entrepreneur, if you or your company ever finds itself in such a bad public light, it’s imperative to address the issue before it becomes a devastating catastrophe.
What are the big oil companies to do if they are not responsible?
Address the concerns before they become full blown crises. Explain to the public the real reasons and culprits behind the hikes. When people don’t know they assume. And right now, most assume that the big oil companies are responsible and since the majority seems to lead in public opinions, it will be a matter of time before that percentage rises.
It will be interesting for entrepreneurs to follow this story and see how it will play out in the coming years if prices keep on increasing.
