Reputation Management: Businesses & Corporate Organizations
“Reputation is the sum total of all the stories told about you”. ~ Sola Abulu.
The excerpt below is from the article Reputation and Its Risks by Harvard Business Review.
Executives know the importance of their companies’ reputations. Firms with strong positive reputations attract better people. They are perceived as providing more value, which often allows them to charge a premium. Their customers are more loyal and buy broader ranges of products and services. Because the market believes that such companies will deliver sustained earnings and future growth, they have higher price-earnings multiples and market values and lower costs of capital. Moreover, in an economy where 70% to 80% of market value comes from hard-to-assess intangible assets such as brand equity, intellectual capital, and goodwill, organizations are especially vulnerable to anything that damages their reputations.
Click here to read the full article.
Are you looking for where to gain professional training in Issues, Crisis and Reputation Management to better serve your brand, business, institution or organizations, then the 3rd Cohort of our CPDSO-Accredited Issues, Crisis & Reputation Management Course scheduled to hold online via ZOOM on April 24, 2025 is your best bet. You can also choose a flexible learning option with our play on-demand Learning Management System (LMS). Learners from all over the world can have access to the complete course module to be completed in a period of 6 weeks.
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Reputation is an important aspect of every brand or entity and a more important concept in issues and crisis management. It is managed by the business leaders while communications professionals facilitate this management and provide professional advice. Many business leaders make the mistake of attempting to protect it when there is an issue or crisis alone.
However, a well-protected reputation can contribute to the quick de-escalation of negative sentiments during a crisis because the brand has already established trust in its target audience and stakeholders. In a crisis, the communications professional handles the responsibility of communicating about it as a way of managing your reputation. Therefore, the best way to protect one’s reputation is by doing the right thing.
Managing one’s reputation requires deliberate investment even where there is no crisis. One negative story told by a media organization or your stakeholders which is escalating can damage it. In very serious cases, the brands don’t just lose selling power to competitors but can lose their license to operate by regulatory bodies and cause many investors and prospective investors to withdraw their interest in them. This is why reputation management is very important and must be protected by not only businesses, institutions or organizations but high-profile individuals, influencers and anyone actively building a personal brand.
Reputation management is the responsibility of the organization (from leaders to employees). What anyone does or says can enhance or damage it.
You can catch up on our previous article on the importance of reputation here.
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Sola Abulu & Associates is a strategy and communications consulting and training firm committed to enabling businesses, brands and organizations to achieve their objectives through strategic communications, organizational effectiveness and reputation risk management
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