Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Reputation management


Published on

How to manage the REPUTATION of a company?

Published in: Business, Economy & Finance
  • Be the first to comment

Reputation management

  2. 2. REPUTATION ☺ The beliefs or opinions that are generally held about someone or something. ☺ Activities performed by individual or organization which attempt to maintain or create a certain frame of mind regarding themselves in the public eye.
  3. 3. Types of Reputation: *. GOOD REPUTATION. *. BAD REPUTATION.
  4. 4. Developing a Good Corporate Reputation  Be obsessed with your product or service.  Deserve confidence.  Be available.  Admit mistakes.  Engage people’s interest.  Have something to say.
  5. 5. Benefits of Reputation  Attracting customers  Motivating employees  Generating investment interest  Increasing job satisfaction  Garnering positive comments from financial analysts  Generating positive news media coverage  Attracting top employee talent  Improving financial performance
  6. 6. REPUTATION MANAGEMENT  Reputation management is the practice of understanding or influencing an individual’s or business’s reputation.  It is the practice of monitoring the reputation of an individual or brand, addressing contents which are damaging to it, and using customer feedback to get feedback or early warning signals to reputation problems.  Most of the reputation management is focused on pushing down negative search results.
  7. 7. Objectives of Reputation Management  Maintain a favourable reputation in the workplace and marketplace.  Enhance and build the organization's good name and reputation.  Establish acceptable practices, policies, procedures, systems and standards that will avoid damage to the organization's reputation.  Prepare and equip the management team to take full responsibility for managing the company’s reputation.
  8. 8. Reputation Management Process  Building: Build a good reputation to maintain it for your business.  Maintenance: Keep a company’s good image superior in the public eye.  Recovery: For recover a company’s good reputation, if the company has gotten a bad reputation for any reason.
  9. 9. Most Reputed companies in India • Survey by Nielsen Corporate Image Monitor • It represents the views of 1,790 people from different walks of life, including policy makers, influence groups, the financial community, investors, corporat e peers and the general consumer, across the top seven metros.
  10. 10. Most Reputed companies in India COMPANY RANK 2012-13 RANK 2011-12 Aditya Birla Group 1 2 Tata Motors 2 1 LIC 3 - ITC 4 8 Infosys 5 - Wipro 6 7 RIL 7 4 HUL 8 6 Tata Steel 9 5 SBI 10 -
  11. 11. Does a Good Reputation Protect Against Reputational Damage? • Benjamin Franklin: “It takes many good deeds to build a good reputation, and only one bad one to lose it.” • Donaldson: “The old saw that a reputation takes years to accumulate, but can be destroyed overnight, is only half true. If you have a good reputation, you are given the benefit of the doubt. If a company has a bad reputation, it gets the detriment of the doubt.”
  12. 12. A Good reputation might help in 3 ways when bad things happen: 1. The reputational capital hypothesis. 2. The shield hypothesis. 3. The benefit-of-thedoubt hypothesis.
  13. 13. Stressing good reputation in bad times  Nonexistence Strategies (“There is no crisis.”)  Distance Strategies (“It’s not our fault.”)  Ingratiation Strategies (“But look at the bigger picture.”)  Mortification Strategies (“We messed up, we’re sorry, and we’ll make it right.”)
  14. 14. Nonexistence Strategies (“There is no crisis.”) Denial Clarification Attack Intimidation
  15. 15. Distance Strategies (“It’s not our fault.”) Excuse Denial of intention Denial of Volition Justification Minimizing Injury Victim Deserving Misrepresentation of the crisis event
  16. 16. Ingratiation Strategies (“But look at the bigger picture.”) Bolstering Transcendence Praising Others
  17. 17. Mortification Strategies (“We messed up, we’re sorry, and we’ll make it right.”) Remediation Repentance Rectification
  18. 18. Reputational Risk • Reputational risk, often called reputation risk, is a type of risk related to the trustworthiness of business. • Damage to a firm's reputation can result in lost revenue or destruction of shareholder value, even if the company is not found guilty of a crime.
  19. 19. SOURCES OF REPUTATIONAL RISK  Increasing exposure through an expanding Internet.  Impersonal and discourteous behaviour.  Acting too late.
  20. 20. CONCLUSION Nothing is more important to a business than its reputation. Without a good reputation, success is limited and a company’s long-term future is cast in doubt.
  21. 21. Thank You! Presented By