Many CEO’s know this. Yet I am still astounded when senior executives come to me after a presentation and say – I never knew that reputation was this important.
Do they not get enough messages about this asset and potential risk?
Surely if some studies show that between 55 – 73% of a company’s share price can be attributed to its reputation, then this is serious.
Surely it is that important that it should be discussed and feature as an agenda item at every single meeting in the organisation?
Surely if it is that important, it should be dissected into those parts that can be managed – tangible aspects and strategies derived to address the intangible aspects?
The parts that are referred by authors and researchers as drivers of reputation – broadly defined categories such as Emotional Appeal, Products and Services, Financial Performance, Workplace Environment, Innovation, CSR and Leadership.
I am still intrigued that this asset only deserves 45 minutes to 60 minutes at a management conference. As a professional speaker, I have to get the message across in this allotted time, yet I run two day Master Classes on aspects of reputation.
I sometimes feel like someone who has to explain a religious text like the Bible or Koran to a layman in 45 minutes. a Virtually impossible task.
Surely the time has come for organisations to discuss this asset, dissect it and decide how they are going to build, sustain and protect this fine yet hard – earned asset that is always at risk.
Managing reputation is a mission-critical task. You cannot leave it up to chance.
Tip – Make it part of every management meeting agenda in the organisation.
Tip – Include it on your Leadership Development & Learning calendar. This makes vital sense as not only is Leadership a reputation driver but it influences very other drivers as well.
Tip – Define Reputation as an asset and as a risk in your organisation. Make sure that you have strategies in place to address both the asset building and the reputation protection definitions.
Discuss. Dissect. You decide. Reputation is not an optional choice.