Initiatereputationconnectivity

Always keep close monitoring of reputation management for transparency and analysis of potential long-term consequences, with ultimate goals to improve professionalism and run high performance business.

The dynamic business and global environment keeps throwing a new set of situations to deal with. The highly reputable organizations are held together by vision and inspiration rather than fear and control; by purpose and engagement rather than silo and distraction; by growth and learning rather than inertia and stagnation. 

The diverse, hyperconnected nature of the digital organization makes everything so transparent. The more regulated, the more geographically dispersed an organization is, the more important to manage business reputation in a consistent manner.

 

Corporate reputation and brand: Reputation management and brand protection become increasingly intertwined and crucial. The management needs to clarify what the brand stands for, what their reputation looks like, how the company wants its stakeholders to see and perceive the brand name and the connotation it wants its stakeholders to associate to, How to keep a consistent corporate reputation across the geographical or industrial boundaries. Can you take a set of primary activities through which the brand name gets communicated and the reputation gets established solidly.

A company's brand is one of its most invaluable assets, and like any asset, it is the responsibility of all peoples from top down to protect and nurture it. The strong business reputation and brand establishment are based on those interconnected elements from leadership and employees to process and technology. Individuals should be accountable to set a positive tone to communicate effectively, corporate managers need to become a strong reputation builder of their organization; the board directors should oversee corporate reputation as a critical soft asset to keep the business thriving for the long term.

Corporate reputation & culture: Corporate reputation and business culture are mutually reinforce with each other. An innovative culture nurtures a strong corporate brand and builds a long-lasting business reputation. Culture is collective mindset, attitude, and behavior. The corporate managers have to shift gears and mindsets to see the culture of an organization as a human organic system composed of uniquely diverse people who have much to offer to develop core competency of the business, continue improving & maintaining business reputation.

Growth mindsets sow the seed to respect self and others, build a strong reputation by getting an in-depth understanding of their brand in context - what's your brand reflecting to, the value, purpose, substance, and style. It’s critical to nurture a culture of accountability and respect, people are accountable to what they say and what they do. They take their own reputation, their organizational reputation seriously, They have intention to build a strong professional brand, and put effort into nurturing a great culture and building a strong corporate brand.

Corporate reputation and risk management: Reputational risk, customer perception, competitor reaction, financial markets responsiveness, etc, all have a risk factor which needs to be recognized, understood, and managed smoothly. The reputation risk goes beyond the post-risk processes of damage control and remedial steps involving corporate communication and public relations programs. We should realize that reputation risk starts with the “do's and don'ts” of a single person in a certain context and in a certain situation. Thus, it’s even more critical to predict, manage internal risks caused by silo, process friction, cultural or talent gaps, as well as economic, legal, political, social and human risks in the ecosystem environment to improve business resilience. 

You can't and won't be able to predict and manage every risk. It is important to make an objective assessment of overall risk management maturity, establish an effective risk, compliance and governance platform to identify vulnerability in the control, and determine the potential range of consequences ($, business interruption, litigation, reputation, etc.). By clarifying the nonlinear logic behind risk management, mapping and measuring complex interactions in real-time, the management can gain early warning with anticipatory awareness of possible negative impact on reputation management. They should shift mentality from “risk-avoidance” to “risk management” and risk intelligence, and take an integral approach to manage risk smoothly for maintaining a solid corporate reputation successfully.

Every staff has responsibility for their own reputation and corporate reputation; but sometimes reputation goes beyond their control. Either individually or in the corporate setting, a good reputation takes time to build. Always keep close monitoring of reputation management for transparency and analysis of potential long-term consequences, with ultimate goals to improve professionalism and run high performance business.

Posted in: Board Room,GRC