Insuring consumer trust is another leading concern for today's business. The equation could not be simpler: no trust= no customer= no profit. Thus, maintaining a positive cooperate image is the single top priority of any firm. Examples of a break in trust have resulted in consequences that not only effected profits, but also have jeopardized the futures of even the stateliest of companies. One such example is the Ford-Firestone crisis. The Jeeps produced by Ford, but bearing Firestone tires were discovered to flip at sharp turns going over a certain speed. A number of accidents and fatalities resulted. When the defect became publicized, both companies refused to acknowledge the error and assume responsibility. Because proving liability on either individually proved impossible, both companies were able to save on legal expenses and reparations to victims. However, their losses by far superseded any losses that the lawsuits may have resulted in, for they lost public trust. Their sales dropped dramatically, but most importantly, they came into negative light. In an attempt to rectify this problem Ford Motor Co. plans to replace 10 million to 13 million Firestone tires an amount that far surpasses the large recall previously ordered, last summer by Bridgestone/Firestone. This extended recall of 13 million Firestone tires will cost Ford $3 billion and force it to idle three plants to free up tires to use as replacements. Ford said it is taking the extraordinary step of recalling the huge number of Wilderness AT tires because it considers them unsafe. However, even this has done little to repair their image, the damage has been felt, and has vibrated through out the whole corporation. Yet, if one would only fathom how easily it all could have been prevented had Ford acted responsibly at the time of crises. Instead of shedding responsibility, they could have worked to reach an understanding, sympathize with those whose lives have been affected, and worked to rectify what ever appears faulty in the vehicle.
