9 Business Giants & Their Big Business Blunders

1,507 Views Updated: 28 Jun 2017
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9 Business Giants & Their Big Business Blunders

Mistakes are a part of everyone’s life and are a learning lesson for the future. But when you are a multinational and every move that you make can cost you millions and also put the reputation of your business at risk then mistakes are not easily forgivable. Having said that, committing blunders is not wrong, but the knack for not learning from your mistake can be dangerous for an organization.

Here is a list of errors made by the global giants:

#1. Coca-Cola

The company either needs better maps or an update on current world scenario, or probably both. It made a disastrous mistake in 2016 that made it a laughing stock on social media, when as a part of their New Year campaign; they wished Russia using a map that did not include Crimea a territory acquired in 2014. They made matters worse by reissuing the map with Crimea that didn’t go down well with Ukraine.

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This popular social media site has done its utmost best to be a place where one can find their daily dose of news all the while denying being to be a media company. The company though got in legal trouble and had to face charges of liberal bias and even had to be answerable for the pro-Trump fake news that was circulating on the social site.

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#3. Apple

Apple maps were famously termed the biggest tech blunder of 2012. Now, that’s not the sort of fame a company needs. The app according to many should not have gone out in the market until ready, but unfortunately, that’s exactly what happened. The map could still help you navigate, but the level of detailing and mapping information provided was wrong. It was a huge dent on the reputation of the company as more and more customers complained of the problem.

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#4. Google

The global giant is everyone’s favorite search engine, but it has a string of corporate blunders to its name. Firstly its failure to buy Groupon in 2010, Google couldn’t procure the company for $6 billion, and now Groupon is now valued at $13 billion. That’s not all; Google had to undergo anti-trust investigations from Europe and another over the ITA deal. That didn’t do much good to its reputation.

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#5. Samsung 

Another case of bringing out something in the market that is probably not ready was Samsung Galaxy Note 7. Smartphones by Samsung may be a hot property, but no one wants one that can catch fire and regrettably that’s what happened with Galaxy Note 7. The product had to be discontinued, and the company suffered a loss of nearly $17 billion.

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#6 Yahoo

The future of Yahoo was any way grim, and it had to face a lot of humiliation, but this downward slope slide continued even before its merger. Just before Verizon’s acquisition of the company in 2016, it announced that hackers had gained access to the accounts of its users and the number was a startling 1 billion. Yahoo managed to break its previously set record with this hacking.

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#7. Gawker

One of the most sensational mistakes made by an online media company that resulted in its bankruptcy is Gawker. The news portal was closed down due to the endeavors of billionaire venture capitalist Peter Thiel who had bankrolled the lawsuit of Hulk Hogan against the media company for publishing his sex tape. Peter Theil had a previous discord with Gawker.

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(Image Courtesy: BuzzFeed)

#8. Microsoft

While Artificial Intelligence is the emerging new cool and a lot of companies are experimenting with it, some like Microsoft was a little less prepared for the outcome. The Microsoft chat box Tay was developed in 2016 to chat with users via Twitter but the amount of foul language, racist and sexist comments Tay managed to learn during her interaction was a bit too much for the company. Tay was built to showcase how A.I. can interact with humans.

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(Image Courtesy: TechCrunch)

#9. Air Miles

Lack of PR and inadequate marketing can get you in a lot of troubles, and Air Miles learned that the hard way. It announced a 5-year expiry rule for points in 2011 but failed to talk about it again. It was only when a reporter covered this news years later that the customers of Air Miles realized they were kept in the dark by the company. What followed was a  lot of confusion, anger, and loss of clients.

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If you liked the article or know of more such disastrous business choices, we would love to hear from you. Kindly use the comment box to share your thoughts and opinions with us

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