Measuring corporate reputation, 13 July 2013
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Measuring corporate reputation, 13 July 2013

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Content from a seminar and workshop with Kingston Business School MBA students, delivered on 13 July 2013.

Content from a seminar and workshop with Kingston Business School MBA students, delivered on 13 July 2013.

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  • Company overview
  • These symbols have powerful associations in and of themselves, associations of reputation because they form a part of the meme of Barclay’s, Nike, McDonald’s
  • http://www.managementtoday.co.uk/go/bmac/http://offlinehbpl.hbpl.co.uk/misc/OTM/MISC-FORATTACHMENTSETC/BMAC_Feature.pdf

Transcript

  • 1. Managing Corporate Reputation Kingston MBA Seminar Dr Sam Knowles 10am-1pm, 13 July 2013 Contents are proprietary and confidential.
  • 2. Today’s agenda 10.00-10.15 Introductions 10.15-11.00 What is corporate reputation? 11.00-11.30 Coffee break 11.30-12.20 Team exercise 12.20-12.50 Team presentations 12.50-13.00 Learnings and takeaways 2 Contents are proprietary and confidential.
  • 3. Our Mission 5 Contents are proprietary and confidential.
  • 4. Our Fuel 6 Contents are proprietary and confidential.
  • 5. What is corporate reputation? Contents are proprietary and confidential.
  • 6. 8 Contents are proprietary and confidential.
  • 7. The tweet that started it 9 Contents are proprietary and confidential.
  • 8. Defining reputation 10 Contents are proprietary and confidential.
  • 9. • The symbols and nomenclature an organisation uses to identify itself to people • For example, corporate name, logo, advertising slogan, livery, etc. What? | Corporate Identity
  • 10. Images and associations 12 Contents are proprietary and confidential.
  • 11. • The evaluation (comprised of a set of beliefs & feelings) a person has about an organisation • For example, is the organisation authentic? is it honest? is it responsible? does it have integrity? What? | Corporate Image
  • 12. Shaping perceptions of authenticity at Unilever 14 Contents are proprietary and confidential.
  • 13. • The trust, confidence and support that flows from stakeholders’ image of and trust in an organisation • For example, confidently expecting a service from a company, accepting an organisation’s expertise, giving support to an organisation What? | Corporate Reputation
  • 14. Barclays’ reputation in the firing line 16 Contents are proprietary and confidential.
  • 15. Does a bad reputation matter to a bank? 17 Contents are proprietary and confidential.
  • 16. Rebuilding corporate reputation 18 Contents are proprietary and confidential.
  • 17. Key factors determining corporate reputation 19 Contents are proprietary and confidential.•Contents are proprietary and confidential. Corporate culture Internal Controls Critical Self Analysis Quality of Management Disclosure & Transparency Organizational Agility Corporate Culture – the way we do things around here Internal Controls – the rules that govern employee behaviors Critical Self Analysis – asking Why? not just How? When? Quality of Management – do we really have the best leaders for the job? Disclosure & Transparency – do we tell our stakeholders what we are doing? Organizational Agility – are we nimble enough to stay ahead of the curve?
  • 18. Why does reputation matter? Recruit & retain talent Productivity Innovation Enhanced Charge a premium price Investment potential Higher NPD acceptance Sustained investor support Supply chain relationships Market confidence Diminished Attract & keep customers Cost of winning new business Third-party partnerships Internal External Business Value Increase Decrease
  • 19. Tesco | What a difference a decade makes Circa 1992 Circa 2002 From this To this
  • 20. Tesco | A decade of change 1992 19971993 1995 1996 2000 2004
  • 21. Tesco | Reputation has real value 0 125 250 375 500 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Year Sharevalue£ Tesco share price FTSE 100 Av.
  • 22. And Tesco today? 24 Contents are proprietary and confidential.
  • 23. 0 50 100 150 200 250 300 350 400 450 500 1/1/2010 2/1/2010 3/1/2010 4/1/2010 5/1/2010 6/1/2010 7/1/2010 8/1/2010 9/1/2010 10/1/2010 11/1/2010 12/1/2010 1/1/2011 2/1/2011 3/1/2011 4/1/2011 5/1/2011 6/1/2011 7/1/2011 8/1/2011 9/1/2011 10/1/2011 11/1/2011 12/1/2011 1/1/2012 2/1/2012 3/1/2012 4/1/2012 5/1/2012 6/1/2012 7/1/2012 8/1/2012 9/1/2012 10/1/2012 11/1/2012 12/1/2012 1/1/2013 2/1/2013 3/1/2013 4/1/2013 5/1/2013 6/1/2013 7/1/2013 Tesco share price, 2010-2013
  • 24. Who cares about corporate reputation? • PR/Comms – communicating news, strategy • IR – convincing the city, securing finance • Public Affairs – dealing with Government, regulators • Marketing – selling to customers and consumers • Social media – engaging with the world • Internal comms – retaining and inspiring employees • C-suite – increasingly common KPI • Everyone in the company – the corporate glue 26 Contents are proprietary and confidential.
  • 25. Measurement =/ management Contents are proprietary and confidential. 27
  • 26. Contents are proprietary and confidential.
  • 27. Contents are proprietary and confidential.
  • 28. Reputation in an always-on world • Media landscape increasingly diverse and chaotic • Brand management no longer owned by brand custodians – if it ever was • Connected/influential consumers, customers and stakeholders can break corporate, brand reputation • Always-on consumer and stakeholder groups require new ways of working • Wall of big data provides wealth of new information to drive strategy 31 Contents are proprietary and confidential.
  • 29. <50 Drive Conversation Share for Most Brands 32 Contents are proprietary and confidential. Thousands of key phrases. Millions of webpages. 100+ Metrics. Hundreds of Outlets. 200 Top Influencers. Have complete clarity into who influences your world, and how to engage them with your people, ideas and content.
  • 30. Understanding the Chain of Influence 33 Contents are proprietary and confidential. Tablet Smartphone Laptop Ultrabook Dana Wollman [2] www.engadget.com 51.7, #58 Donald Melanson [1] www.engadget.com 52.5, #55 Josh Smith [2] notebooks.com 64.5, #28 Chippy [1] umpcportal.com 50.7, #66 Joanna Stern [11] [ www.engadget.com ] The Verge 68.0, #18 Nilay Patel [7] [ www.engadget.com ] 47.8, #81 Tim Stevens [7] www.engadget.com 53.8, #47 Thomas Ricker [6] [ www.engadget.com ] The Verge 60.7, #33 Brad Linder #2 liliputing.com 160/118 8 258/88372
  • 31. Web 2.0 and corporate reputation management • Shift from broadcast to engagement • Change in style, content, tempo and language • Measurement in real time • Evidence-based marketing communications • Test and learn • Openness and transparency • Live up to your promises • No more siloes any more 34 Contents are proprietary and confidential.
  • 32. Corporate reputation • Based on perceptions and understanding of financial performance, business ethics, value as employer etc. • Collective folk memory of the words and deeds of the organisation • Beliefs or opinions generally held about brand + history • A company’s most valuable, intangible asset • Hard to measure meaningfully (we’ll come back to that) • And a real opportunity for you to make your mark 35 Contents are proprietary and confidential.
  • 33. Contents are proprietary and confidential.
  • 34. Welcome back Contents are proprietary and confidential.
  • 35. Team exercise Boeing hits turbulence after 787 Dreamliner fire at Heathrow Google is required to pay corporation tax on all UK revenue Tesco lasagne is found to contain 100% horsemeat 38 Contents are proprietary and confidential.
  • 36. 39
  • 37. 40 Contents are proprietary and confidential.
  • 38. Team exercise | What do you do? • Today • Tomorrow • Within a month • Within 6 months • Set KPIs for what success looks like at every step • You may use the internet • You have 50 minutes 42 Contents are proprietary and confidential.
  • 39. Exercise | Learnings 1. Manage crises with finesse, honestly, frankly - But would Tylenol approach work today? 2. Fix it right the first time - Don’t behave like the BBC over Saville 3. Never underestimate the public’s cynicism - Beyond Petroleum, Bill Gates Foundation 4. Being defensive is offensive - “United breaks guitars” 5. If all else fails, change your name - Altria, Accenture, Consignia 43 Contents are proprietary and confidential.
  • 40. Any questions? 44 Contents are proprietary and confidential.
  • 41. Contents are proprietary and confidential.