It takes a great deal for one’s mind to begin to comprehend a trillion. The number is so large it is unimaginable. The figure belongs to government debt or to data stored on computers. The news that Apple is now valued at a trillion dollars is mind-boggling. Its size and wealth are beyond any other corporation in US and probably, world history. The company needs to understand, however, that its exalted position is tenuous. It can fall back at any time should it misstep in product innovation and marketing. Previous behemoths in technology, such as IBM and Hewlett Packard, are still growing and profitable but nowhere near Apple’s multiple. Apple will hit a maturity at some point when its technology is ubiquitous and widely imitated. It will need to find another breakout product and that will be difficult. Meanwhile, competitors will keep nipping at its lead in a chance that they can bring the company down. Uneasy lies the head that wears the crown.
Trapped
One nightmare for executives is to be trapped by crises not of their own making and that come out of seeming nowhere. For example, like this one. Cardinal Kevin Farrell, head of the Vatican’s family and laity office, once served under a formal cardinal in Washington DC who stands accused of sexual abuse of young men. He says he is angry and would have done something about it had he known. His problem is that critics say he should have known because he lived in the same rectory as now-disgraced ex-Cardinal Theodore McCarrick. There isn’t much Farrell can do to convince the public that he didn’t have an inkling of the case. He is going to have to live with the suspicion that he is covering up. There are PR problems for which there is no good answer. This is one.
Can’t Get It Right
Chipotle Mexican Grill is snakebit. Yet another restaurant has had to go offline from food-borne illness. This time under the chain’s new CEO. For some reason, Chipotles nationwide have suffered from poisoning outbreaks. The firm has changed its sourcing, logistics and cleanliness practices but to little avail. It just can’t get it right and the public has responded by staying away from its burritos. This is a chronic PR crisis for the company and one it must solve sooner rather than later. There are many ways viruses and bacteria can enter a food chain, and a restaurant company needs to guard against all of them. It doesn’t have the leeway of occasional lapses. The CEO will have to bear down on procedures to make sure it doesn’t happen again.