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Tiger Woods Case Study

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Risk management and risk ‘talk’ are all around us. The risk-based description of organisational life is conspicuous. Not only private sector companies, but hospitals, schools, universities and many other public organisations, including the very highest levels of central government, have all been invaded to varying degrees by ideas about risk and its management (Power 2004). With an increase in the miscommunication of risk, industries are taking heightened care in case the worst should happen. Companies are now taking on pre-loss objectives so to prepare for potential loss, reduce stress and meet legal obligations. There is a consistent stream of failures, scandals and disasters which challenge and threaten organisations, suggesting a world …show more content…

With no pre-loss objectives in place Woods’ endorsers Nike, Gillette, Accenture and Gatorade had to take immediate action to fight the loss that Tiger Woods had and would cause them. Gatorade was the first to jump ship followed by nearly all others. Gatorade had stated that they had already wanted to remove the ‘Gatorade Tiger’ from their products so to make room for new investments but others see it as a coincidence of timing. If anything, it points to a decrease in the effectiveness of Woods' brand equity (Gilbert 2009). Accenture and Gillette pulled out also and the last seen ad aired by Gillette was 29th of November (Gilbert 2009). When crimes like this happen, the companies which Woods endorses products have 2 choices. The can separate themselves from the athlete altogether or they can stick it out and hope that they can turn the situation around. For Tiger Woods many of his endorsement deals cut him off in the middle of their multiyear deals, this is possible due to the increase of moral clauses in insurance premiums. Companies want the broadest rights possible to cover “any occurrence” that involves “moral turpitude, or makes any statement or commits any act disparaging of, or reflecting unfavourably upon, the company’s reputation or the company’s products and services,” (Belson

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