Commercial in confidence 1INSIDE STORY Research and Knowledge Management | Level 5, 2 Barrack Street, Sydney NSW 2000Tel: ...
Commercial in confidence 2Introducing INSIDE STORYCELEBRATING A BIG BIRTHDAY MEASURED CORPORATE REPUTATIONS SINCE 1999REPU...
Commercial in confidence 3UnionsEmployeesStudents &graduatesAssociationsAcademicsMembersPoliticiansAdvisorsOppositionBurea...
Commercial in confidence 4Journalists – every 6 months since 1999NewsjournalistsBusinessjournalistsWiresTelevisionPrintInt...
Commercial in confidence 5How we measure reputationNegative equity Positive equityNeutral: neitherweaknor strong-5 -4 -3 -...
Commercial in confidence 6How the environment has changed1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 ...
Commercial in confidence 7Case study: QBEFrank O’Halloran14 years at the helm of QBEReputation for being a great leaderMad...
Commercial in confidence 8Feb ‘09 Feb ‘100.00.51.01.52.02.53.03.54.04.55.0QBE’s evolving reputationFeb ‘04 Feb ‘05 Feb ‘06...
Commercial in confidence 90.00.51.01.52.02.53.03.54.04.55.0Feb ‘11 Feb ‘12 Feb ‘13$-$5.00$10.00$15.00$20.00$25.00QBE’s sha...
Commercial in confidence 10Impact on trust and confidenceFeb ‘04 Feb ‘05 Feb ‘06 Feb ‘07 Feb ‘09 Feb ‘10 Feb ‘11 Feb ‘12 F...
Commercial in confidence 11What is a ‘good’ reputation then?-5 -4 -3 -2 -1 0 +1 +2 +3 +4 +5© Copyright INSIDE STORY 2013 I...
Commercial in confidence 12Corporate reputation – what negativelyimpacts it?Failing to meet forecastsEspecially without wa...
Commercial in confidence 13The journalist’s mental model – how theyrespond to your messagesValues Experiences PerceptionsI...
Commercial in confidence 14Corporate affairsA hygiene factor – ignore it at your peril Timely access to the right people...
Commercial in confidence 15When do journalists’ musings matter? When your company has a big consumer footprint When poli...
Commercial in confidence 16What makes a good relationship with themedia? Build a relationship – get to know who writes ab...
Commercial in confidence 17INSIDE STORY Research and Knowledge Management | Level 5, 2 Barrack Street, Sydney NSW 2000Tel:...
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Inside Story Opens the Vaults on Corporate Reputation - May 2013

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After more than 13 years' measuring corporate reputations we're pleased to share some of our research findings and insights focusing on a case study with global insurance company QBE. We show some of the key events which can negatively impact your corporate reputation, and how organisations can negate this with a good relationship with business journalists.

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Inside Story Opens the Vaults on Corporate Reputation - May 2013

  1. 1. Commercial in confidence 1INSIDE STORY Research and Knowledge Management | Level 5, 2 Barrack Street, Sydney NSW 2000Tel: 02 9299 9979 | Fax: 02 9299 7991 | Email: catherinea@insidestory.com.au | Web: www.insidestory.com.au | ACN: 00 364 0953 | ABN: 46 795 383 901INSIDE STORY opens the vaults oncorporate reputation
  2. 2. Commercial in confidence 2Introducing INSIDE STORYCELEBRATING A BIG BIRTHDAY MEASURED CORPORATE REPUTATIONS SINCE 1999REPUTATION CLIENTS SPAN MANY COMPANIES AND INDUSTRIES
  3. 3. Commercial in confidence 3UnionsEmployeesStudents &graduatesAssociationsAcademicsMembersPoliticiansAdvisorsOppositionBureaucratsRegulatorsNewsjournalistsBusinessjournalistsWiresTelevisionPrintInternetBloggersTwitterersFansNGOsCommunitygroupsConsumeradvocatesSMEsLargebusinessesEnterprisesRegionalcommunitiesAustraliansInternational visitorsWho influences your reputation?
  4. 4. Commercial in confidence 4Journalists – every 6 months since 1999NewsjournalistsBusinessjournalistsWiresTelevisionPrintInternet
  5. 5. Commercial in confidence 5How we measure reputationNegative equity Positive equityNeutral: neitherweaknor strong-5 -4 -3 -2 -1 0 +1 +2 +3 +4 +5© Copyright INSIDE STORY 2013 INSIDE REPUTATION INDEX
  6. 6. Commercial in confidence 6How the environment has changed1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013In thebeginning –companiesperceivedpositively.Regularlysawreputationratings upat 4.5/52000/2001 – Dotcom bubble burst2001 – HIH –Australia’s largestever corporatecollapseAll reputations re-evaluated – drop.The best sit ataround 3/52008-2010 – GFC –Australian businesslargely unscathed ina global sense.However a degreeof nervousness.The ‘new normal’ -businesses getting togrips with high Australiandollar, ‘two speedeconomy’, uncertainpolitical environment,new carbon tax, increasein superannuation –increased uncertaintyRelative stabilityIncrease in interest in CSRactivities, innovation
  7. 7. Commercial in confidence 7Case study: QBEFrank O’Halloran14 years at the helm of QBEReputation for being a great leaderMade hard nosed decisions which paid offAbility to attract top executivesDid not like talking to the media – unless it suited him
  8. 8. Commercial in confidence 8Feb ‘09 Feb ‘100.00.51.01.52.02.53.03.54.04.55.0QBE’s evolving reputationFeb ‘04 Feb ‘05 Feb ‘06 Feb ‘07 Feb ‘081.5Global financialcrisis – period ofuncertaintyFeb ‘11 Feb ‘12 Feb ‘13Recovering fromlosses inSeptember 11attacks in USAplus unsuccessfullife insuranceexpansion1.31.92.32.1QBE goesshopping – buysup cheapercompetitors3.13.8QBE hit by multiple disasters –Japan & Christchurchearthquakes, floods inThailand, tornadoes in USA.Negative impact on profitability –45% drop in share price2.0Frank steps downas CEO, John Nealappointed1.92.1
  9. 9. Commercial in confidence 90.00.51.01.52.02.53.03.54.04.55.0Feb ‘11 Feb ‘12 Feb ‘13$-$5.00$10.00$15.00$20.00$25.00QBE’s share price2.0 1.92.1Feb ‘04 Feb ‘05 Feb ‘06 Feb ‘07 Feb ‘08 Feb ‘09 Feb ‘101.51.31.92.32.13.13.8
  10. 10. Commercial in confidence 10Impact on trust and confidenceFeb ‘04 Feb ‘05 Feb ‘06 Feb ‘07 Feb ‘09 Feb ‘10 Feb ‘11 Feb ‘12 Feb ‘13Feb ‘080.61.50.31.71.52.61.4 1.40.41.3Trust Confidence1.31.92.32.11.53.13.8Overallreputation2.01.92.1Global financialcrisis – period ofuncertainty1.81.9 1.82.32.02.74.01.4 1.42.3QBE, which was regarded as the best managed insurer inthis sector and one of the better ones on the globe, wasntactually quite as well managed as we thought it was.”Senior business journalist, May 2013
  11. 11. Commercial in confidence 11What is a ‘good’ reputation then?-5 -4 -3 -2 -1 0 +1 +2 +3 +4 +5© Copyright INSIDE STORY 2013 INSIDE REPUTATION INDEX1.3 3.81.8 2.8The ‘golden zone’
  12. 12. Commercial in confidence 12Corporate reputation – what negativelyimpacts it?Failing to meet forecastsEspecially without warningFailing to growEspecially when your competitors areMaking unexpected major changesAnd failing to communicate reasons whyCrisisService outage, plant closures, majorlayoffs, strikes, off-shoringDisharmonyBetween the board and management, institutionalshareholders and management, company andgovernment, social and shareholder expectationsScandalCustomer complaints, CEO or board indiscretions‘Unethical’ practicesPrice gouging, significant price increases withoutexplanation
  13. 13. Commercial in confidence 13The journalist’s mental model – how theyrespond to your messagesValues Experiences PerceptionsIntegrity, esteemRational economist vs.humanistPast and present, directandindirect, professionaland personalThings they hear, readand observeKnowledge and feelings‘You’ (the organisation)Actions, people, culture, competitiveness, corporateresponsibility, strategies, relationshipsMessageHow you project externally egviamessages, advertising, productsand your relationships with themedia.How well your message iscommunicated and cuts throughJournalists will overlay yourmessage with their previousexperiences, perceptions andvalues.This is combined with what theylearn from others eg financialanalysts, other sourcesSupportPositive storiesRejectNegativestoriesWait & seeNeutral storiesIgnoreOverallevaluation
  14. 14. Commercial in confidence 14Corporate affairsA hygiene factor – ignore it at your peril Timely access to the right people Framing the strategy clearly and confidentlyUnderstanding and communicating:What were the event triggers?What are the critical issues that led to this?What is happening in the background (industry, economically, etc)?After an event, media focus is on strategy (what you are doing now?)as opposed to the business model (how you make money)
  15. 15. Commercial in confidence 15When do journalists’ musings matter? When your company has a big consumer footprint When politicians or other major opinion leaders might take notice When your company has many direct shareholders andcustomers who listen to these journalistsWhen your company is perceived as an iconic brand name(Qantas, Telstra, CBA, NRMA) – everybody thinks they should havea say in how these companies are managed!When your CEO cares about how public comment reflects on hisor her reputation
  16. 16. Commercial in confidence 16What makes a good relationship with themedia? Build a relationship – get to know who writes about you Help journalists to understand your wider industry as well as your organisation Don’t mass spam your press releases – target your audience Don’t try to manage the press! Hate exclusives – if have a release, be open It’s all about the story – welcome coming with comments on issues, ideas forstories, positions on events Give advance notice of CEO and senior management availability for interviews –especially if based interstate Return calls and emails promptly – even just to say you’re unable to respond or you’reworking on it
  17. 17. Commercial in confidence 17INSIDE STORY Research and Knowledge Management | Level 5, 2 Barrack Street, Sydney NSW 2000Tel: 02 9299 9979 | Fax: 02 9299 7991 | Email: catherinea@insidestory.com.au | Web: www.insidestory.com.au | ACN: 00 364 0953 | ABN: 46 795 383 901GO DEEPER, MOVE FORWARD

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