Getting ahead in the reputation game

Reputation Management Concept on the Cogwheels.Reputation and the importance of a good reputation is well understood; for businesses reputation is a vital and valuable commercial asset, albeit intangible. But how do organisations actively protect their reputation and manage the risks to it being damaged?

That is a harder question to answer. The 2014 Forbes Insights Survey found that 39 per cent of companies surveyed rated the maturity of their reputation risk programmes as “average” or “below average,” and only 19 per cent gave themselves an “A” grade for their capabilities at managing reputation risk. Clearly there is still much to be done – but what? In this blog, I offer some ideas for consideration and debate.

Influencers of corporate reputation 

External perceptions of quality, transparency and trust are key influencers of corporate reputation, as found by research published in the Edelman Trust Barometer (an annual survey of more than 5,000 informed publics in 23 countries), the Fortune 500 listing of the world’s most admired companies and the Reputation Institute. But herein lie the first two problems for reputation risk management.  Reputation is an intangible asset and its gift is in the hands of your stakeholders; both factors make it harder to gauge. Continue reading

Key themes from the inaugural Crisis Management Conference

By Dominic Cockram

CMC2013 - Final

The inaugural Crisis Management Conference was held last week to a sell out audience in London. Over 150 delegates sat down in the splendid surrounding of the Institute of Civil Engineers, just off Parliament Square in Westminster, to listen to a full day’s programme of speakers from the Cabinet Office, Unilever, BBC, CIPR, Goldman Sachs, Bank of England and University of Portsmouth.

The conference was conducted under Chatham House rules to allow for greater freedom in the presentations and discussion, but I have noted the key themes to come out of the day and share them here, for wider consideration.

  •  Capability Building  Crisis management isn’t just about the response.  It is a capability that has to be built and encompasses prevention (horizon scanning), preparation (planning, training and, above all, rehearsal), response (adaptability and flexibility) and review.
  • People  People with the right knowledge, skills and experience are central to an effective crisis management capability, but you have to ensure they are ready by training.
  • Prosperity  There is a positive correlation between crisis management, resilience and prosperity of an organisation.
  • Learning  Identifying lessons is only beneficial if they are put into practise so lessons identified become lessons learned.
  • Values  An organisation’s values should guide its response to a crisis as much as they guide day-to-day business.
  • Reputation  Building your reputation capital before a crisis is as important as communicating well during a crisis.

At the end of the conference sessions, an open forum was held with members of the BS11200 Crisis Management Standards committee, to encourage discourse from the floor about the British Standard in development.  A fascinating range of questions and opinions were shared and the panel left with more clarity as to what people wish to see in the Standard.

A more detailed report has been produced on the themes and lessons that came out of the day which can be found on the Conference page here.

The conference has established that there is strong interest in sharing knowledge about crisis management and encouraging debate and we are already planning another event for Spring 2014.

Finally,thanks must go to all the team here at Steelhenge for making it such a well organised day!

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To see the full programme and to register for the Crisis Management Conference 2014 please click here!