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Reputation Management Essentials
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- 2. Reputation vs. brand •Brands are more controllable than reputations • Leading consumer or high street brands are more vulnerable to reputation damage. • Reputation cannot be classed as an asset for balance sheet purposes, yet a bad one is a liability. • A brand is manufactured by an organization to sell to one stakeholder group & consumers while a reputation is created by its stakeholders • Reputation is ultimately a measure of trust.
- 3. Benefits of goodreputations 3
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- 5. Reputational Risk Management 5 Determinants of Reputational Risk Waysto manage Reputational Risk Reputation Reality-Gap Changing beliefs & expectations Weak internal coordination Objectively assess reputation versus reality Access and accept impact of changing expectations Explicitly focus on reputational risk Strong and sustainable reputation Lack of policy knowledge & improper implementation Raise awareness and enforce compliance
- 6. Holcim Vietnam Issues Management 6 Determinantsof Reputational Risk Ways to manage Reputational Risk Reputation Reality-Gap Changing beliefs & expectations Weak internal coordination - Clipping Report - Stakeholders need assessment - Customers survey - Employees survey - CRM - Call Center - Media relations & communication campaign - Stakeholders meeting & CEP - NPS - Corporate communicati on in SD under CEO - Department communicati on champions - Crisis communicati on Strong and sustainable reputation Lack of policy knowledge & improper implementation - Constantly monitor and evolve - Document Management System - Compliance Systems
- 7. Employees Employees’ family Consumer Local authoritiesLocal community Government Ministry Financial Institutions Media X Industry NGOs Contractors ors Suppliers Students Universities Academic Mass community Low Levelofinfluence(impact) Level ofinterest High interest Medium interest Low interest Customers Keep satisfied Focus efforts / Key players Respond to request / Monitor Keep informed Media Sample Stakeholders Analysis
- 8. Typical causes ofreputation risk
- 9. 10 9 8 7 6 5 4 3 2 10 9 87 6 5 4 3 2 1 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 More Severe Less Severe LessLikely Quality / product failure Reputation damage Compliance issue Company financial health Accident with lives lost Biodiversity Environmental issue Information services – breakdown/leaks Company policy / changes Fuel Waste- related concerns Serious natural disasters OH&S-related issues Industrial disputes Sample Risk Analysis
- 10. Scope of corporatecommunication influence Issues Management, Holcim Vietnam Ltd, Bao SD Nguyen, 2013-11-19
- 11. Functions of Corp.Com Strategy 11 Scan environment to identify and prioritize issues and stakeholders’ expectations Be instrumental in setting up social goals (in line with social strategy) Build symbolic and behavioural relationships with strategic stakeholders Engage strategic stakeholders in problem solving and decision making
- 12. Case studies Issues Management,Holcim Vietnam Ltd, Bao SD Nguyen, 2013-11-19 Concern Disgust Surprise Outrag e Disappointmen t
- 13. What is ourlevel of RR management? We are here!