It may be a faulty assumption, but I take for granted most companies recognize the value of a good reputation . . . or at least acknowledge the downside of a bad one. There is evidence to the contrary I grant, as some companies seem almost compelled to embarass themselves without regard to its impact on public trust, credibility with financial and industry analysts and market confidence. But I think most CEOs and corporate communicators recognize that being in command of organizational reputation at least has value as a means of managing market, social and financial risk.
But there are other, less heralded but equally potent, reasons why a company or organization's reputation is its most valuable intangible. Over the next few posts I will take a look at some of the less obvious reasons why, starting with . . .
Being seen to be of sound organizational character in the minds of public officials means:
- You are a less likely to become a political or media football . . . or poster child for what's wrong with business (or the social sector) today.
- Their doors may be slightly more ajar should you have a regulatory or policy concern . . . but don't count on it if it is too controversial.
- They may consider consulting with you before making a public announcement that has an impact on your market, sector or business environment to confirm your support or opposition . . . although don't hold your breath.
Idea two to follow shortly!