7 Lessons Learned From the Samsung Recall
September 8th, 2016
Authored by industry experts:
|Joel Berrian, CPCU, ARM, AIC
|Joe Bermudez, Esq
Samsung Electronics Co. Ltd. (Samsung) is the world’s largest smartphone maker and one of our best consumer goods companies. Yet, as Samsung recently learned with its Galaxy Note 7 phone recall, even the best companies have bad days. The question now facing this popular and profitable company: will it respond effectively to the crisis? Based on early reports, Samsung is prepared to respond quickly in order to successfully survive its recall crisis. As it endures this recall, Samsung has learned very expensive but invaluable lessons, which can serve as an example to other companies about the potentially catastrophic nature of recalls.