Financial Employees Over A Period of Time: Chapter 1 - Reputation Management

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Chapter 1 Reputation Management

Reputation = sum of images = (performance financial and behaviour employees) + communication


over a period of time
Reputation capital is closely related to goodwill
A good reputation has both tangible and intangible benefits
Companies with the better reputations attract more and better candidates for employments, pay
less for supplies, gain free press coverage that is worth as much if not more than advertising, and
accrue other benefits that actually contribute to profits
Reputation adds value to the actual worth of a company
Measurement, acknowledgement and planning make possible proactive behaviours and
communications to take advantage of reputational opportunities and minimize problems
Identity is what the organisation stands for above all else
Corporate identity programs try to position the company in a particular way through all its
communications and graphic vehicles
Organisations have multiple identities which need not pose any conflict as long as there is a clear
dominant identity
It is important for employees to understand and be committed to the organisations dominant
intrinsic identity
Clear identity can drive behaviour, performance and communication as it should which will ensure
internal and external constituencies will all understand what the organisation is all about?
Can reputation be measured?
The more common approach to measure communication is to take comparative measures against
similar organisations
A more comprehensive approach would include surveying all the major constituencies like
employees, customers and the press
Harris-Fombrun Reputation Quotient evaluates reputation among multiple audiences according to
20 attributes that are grouped into 7 dimensions
Can reputation be managed?
There are many conferences on reputation management that focus on measurement or only specific
parts of reputation management like crisis communication
They do not produce a plan or document that aims to manage reputation as other assets are
managed including the plusses and negatives associated with any asset
Reputation can be mismanaged or not managed at all

Intangible asset the wrong perspective


This view is analogous to that some parents say they do not need to be concerned about their young
childrens character because they will be influenced by the peers when they become teenagers
Reputation has its liability sides
Any reputation management plan has to measure, monitor, and establish a plan for managing both
the reputation assets and the vulnerabilities
The important thing is to have a plan
Comprehensive reputation management NB! Is a long term strategy for measuring, monitoring and
managing an organisations reputation as an asset
Provides a framework for managing reputation
It is one way for an organisation to get its arms around this asses and to manage reputation
problems, vulnerabilities and opportunities
Management of an organisations intrinsic identity and external images gives an organisation a
methodology for working to converge the two
It is applied to the major areas of an organisation
Each area gets involved in a process that is a way of approaching total reputation management and
is distinct from brand management
Six major components
i.
ii.
iii.
iv.
v.
vi.

Customised reputation template


Reputation audits of internal and external constituencies
Reputational capital goals
An accountability formula
A reputation management plan
Annual follow up audit and assessment according to the standards in the reputation
management plan

Confusing communication with performance and behaviour


Pushmi-pullyu is a syndrome that explains generations old lament of corporate and organisational
communicators about their lack of a seat at the table and has been a problem because an
organisation develops an ill-advised product or position and takes the communication group to
justify it
Communication objectives and strategies should always be in synch with the business objectives and
strategies, they are distinct
Communication cannot make a bad product good, at least over the long run

The strategy of using paid media makes sense, but only in conjunction with more credible, less
controlled, communication initiatives that tell the story of performance
The solution to the push and pull substance and communications is to have the entire organisation
behave and communicate as one
Its all about building the relationship NB!
Building and cultivation of relationships with key constituencies
Understand that is must benefit both parties
Formal strategies and objectives should be established and monitored
The strategies and objective should also force practioners to go out and meet face-to-face on an
ongoing basis with their constituencies
Treat constituencies as sales people would treat customers
5 strategies to implement over the years
i.
ii.
iii.
iv.
v.

Target key areas that really matter to you organisation


Target the leaders but do not stop there
Identify the emerging players
Use the organisational resources
Always be the first to tell the news to your constituency, especially bad news

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