Recently, the news that a number of senior executives of Yunnan Baiyao have left their jobs and been investigated has caused shock to the outside world. As a century-old store in the traditional Chinese medicine industry, Yunnan Baiyao was supposed to be strong and stable, but a series of personnel earthquakes hit the core of the company. The market value has evaporated by nearly 6 billion, which can be called a major crisis in the history of 100 billion Chinese medicine giants.
Loading...
Things have to start with Wang Minghui, chairman of Yunnan Baiyao. The man, who had been with the company for 20 years, suddenly resigned for "personal reasons". Subsequently, many of Wang Minghui's henchmen also left one after another, including sales director, financial director and other key roles in the company. For a time, the "core" figures of Yunnan Baiyao were vacant, and the operation of the enterprise fell into chaos.
What is even more shocking is that with the occurrence of personnel changes, the outside world has spread the news that these executives have been taken away by the Commission for Discipline Inspection for investigation. Although Yunnan Baiyao has not yet been officially confirmed, the stock price still fell in response, evaporating a market value of 6 billion. Analysts point out that behind the departure of senior executives, there is likely to be a serious problem of corruption. Why did this suspected corruption storm sweep through Yunnan Baiyao?
The public was taken by surprise. As a well-known time-honored traditional Chinese medicine enterprise in China, Yunnan Baiyao has maintained a good social image for many years, and its products sell well at home and abroad, with huge profits. Many consumers trust their time-honored pharmaceutical formulations. Overnight, the century-old goodwill was ruined, which is embarrassing.
A careful study of the development of Yunnan Baiyao in recent years can also find some clues to the problem. For example, its best-selling product, Yunnan Baiyao toothpaste, was exposed to the double standard practice of inconsistent ingredient labeling at home and abroad, which caused controversy. The high price of toothpaste has also been questioned. It can be seen that behind the rapid development, there are certain loopholes in the management and supervision of enterprises.
In the entire TCM industry, cases like Yunnan Baiyao's "cannon" level are not unique. In recent years, there have been frequent corruption cases in the pharmaceutical industry, which has become a worrying trend. Data shows that last year alone, more than 180 people across the country were investigated for corruption in the pharmaceutical system.
Hospital equipment purchase, drug sales, scientific research project funds...... There is a smell of corruption in every link. What is the root cause of this situation? The pharmaceutical industry has huge capital flows and long-term lag in supervision, creating conditions for corruption. At the same time, moral turpitude is a key factor.
When corporate executives are self-interested and forget about corporate social responsibility, business ethics collapse. The Yunnan Baiyao incident once again proves that without a sunny and transparent corporate culture, it will only lead to devastating consequences. In the face of this crisis, where should Yunnan Baiyao go? It is recommended that enterprises enhance information transparency and respond to social concerns as soon as possible.
It is necessary to fundamentally purify the corporate culture, adhere to moral construction, and let the sunshine of honesty be injected into every corner. Strengthen internal supervision in accordance with laws and regulations, and plug loopholes. Only by reassuring the people about the product can we rebuild the goodwill.
Traditional Chinese medicine enterprises should return to the origin of product quality, and only by striving for excellence can they win the trust of consumers and market opportunities. In the long run, corporate social responsibility and institutional culture construction are the only way to sustainable development.