I have been attending a number of meetings at which a variety of people talk about reputation. It is interesting how liberally and non-specifically the term is used. It seems that many people suggest that simply doing good public relations or having good corporate advertising will create a good reputation.
The following are some basic principles which should provide guidance for those involved in corporate brand and reputation management that, I hope, will make the discussions increasingly more specific:
1.Brands and reputation are judged within a competitive set and each organization must differentiate from other offerings;
2.An organization needs to behave in trustworthy ways to earn trust and build reputation—communications alone will not do it;
3. Stakeholders decisions are made on specific, immediate needs, and these can change over time;
4.Not all stakeholders are equally important. You must have a way to prioritize stakeholder value and potential risk;
5.Stakeholders are increasingly defining brand(s) and reputation on-line;
6.The objective of brand and reputation management is to deliver measurable returns to your organization.
I will be posting more specific suggestions that elaborate on these principles in future blogs.