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Social Media in a Corporate Context 2010 - Leesa Fogarty, Augure

by Felicity Stewart on Oct 28, 2010

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Leesa Fogarty of Augure presented at Social Media in a Corporate Context 2010

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Leesa Fogarty of Augure presented at Social Media in a Corporate Context 2010

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While all crises are unique, they share these traits: “the element of surprise” “insufficient information” “quick pace of events” “intense scrutiny”That Intense Scrutiny is Linked to New Communication Channels and Media – Social Media.Not all “Problems” Constitute a “Crisis”. By asking yourself, if the problem threatens to :severely affect the organization’s normal workflow and distract senior management2) affect the organization’s financial well being?3) hurt the organization’s image and reputation in the eyes of critical constituencies?
Early Warning Zone:Identify, monitor & select issues for action by probability of occurrence & estimated severity of impactIssue Response Strategy From proactive to interactive to accommodative to reactiveStakeholder Engagement ZoneBroad Communication ZoneTraditional Public Affairs/ Lobbying initiatives to create, change or defeat issue legislation
StrengthsWhat is your company’s message and promise to your stakeholders on this issue?ImprovementsDo our stakeholder perceptions reflect our message and promise?How do the media and other intermediaries describe us?Have we identified gaps between intent and perceptionIssuesAre your strategies consistent across stakeholders and regions?Are our communications across the value chain consistent?
The perceptions of the way this company acts as an organization and how it operates within the context of the issues facing the sector could have been negative resulting in significant cost increases and prospective loss of competitive advantage.A large difference in market capital vs. reputational capital has led to significant strategic risks in 3 principle areas:ReputationSustainabilityLicense to operate
Alerts from Google, YouTube, Twitter, RSS etcReference panel of all key topics, entitiesMainstream monitoring sources such as User Generated Content, Mixed Media and Editorial
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It is not necessarily the reality of how a business manages a crisis that will determine its fate. It's how the organisation is perceived to have managed the crisis: in many ways a crisis turns into a very public, very high stakes audit of management's competence. Get it right and the organisation's reputation and value can be enhanced; get it wrong and serious – and sometimes terminal damage – can result.Monitor your stakeholders, review the influence of your activities, measure the impacts and benchmark.
Good crisis management is all about preparedness. An army spend its life to participate in exercises before it goes to war. In crisis Management practice is as important as the plan.It makes all the difference if a company is ready for all aspects of crisis management, leadership, structure, competence, process. Many companies are ready to face an emergency operationally or a business threat — with a business continuity plan — but not all are ready to defend their reputations in the face of extreme public scrutiny.Characteristics of effective Crisis Management EffortsPlace high value on issue managementThe most effective crisis management takes place before the problem escalates out of control during the "incubation" phase. Some of the biggest potential crises have been identified and addressed before they ever escalated out of control: this is crisis management at its best. This requires an organisational culture that is vigilant for potential crises, has open lines of communication from staff to management, and a willingness to address unpleasant truths. Central to Toyota's problem was its perceived delay in identifying and addressing the situation in the first place. Whatever Toyota says now, and however well it acts, there is a perception from its stakeholders that it ignored the problem until it was forced to take action. Corporate denial appears to have been the order of the day, with the company following the advice of the Japanese proverb: "If it stinks, put a lid on it."Show empathy, manage expectations and reach out. Be ready with an effective response.
Reputation Management is not just for the world’s largest companies…

Social Media in a Corporate Context 2010 - Leesa Fogarty, Augure — Presentation Transcript

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Social Media in a Corporate Context 2010 - Leesa Fogarty, Augure

by Felicity Stewart on Oct 28, 2010

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Social Media in a Corporate Context 2010 - Leesa Fogarty, Augure — Presentation Transcript