VIEW FROM
THE INSIDE
REPUTATION MANAGEMENT
It is not rocket science but reputation management can send some into
orbit and leave others burnt and bloodied, explains Stephen Fleming
T
he reputation of a business and
its principles have never been
more important. In an age where
detrimental information, possibly
unwarranted, can be broadcast instantly,
a reputation built up over years can be
destroyed in seconds.
Scan the press every day and you
will see many examples of catastrophic
reputational damage. Recent high-
profile cases include Sam Allardyce,
the ex-England football manager,
Sir Philip Green, the former BHS
boss, and any number of banks.
This damage amounts to millions in
costs and potential lost revenue.
But it’s not just the big corporations
that suffer. Any business with a profile
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SME
faces reputational risk and if that’s
damaged the company or individual will
suffer a substantial loss. The directors of
SMEs owe a legally enforceable duty of
care towards shareholders to protect a
company’s brand and assets.
Reputation is driven by the opinions
and experiences of the complex web of
individuals that make up what we call
stakeholders – that means the people or
bodies who are interested in what you do
and the way you behave. That list might
include customers, employees, suppliers,
partners, investors, journalists, pressure
groups, regulators and competitors.
There may be more too for you or your
business, each list is different.
Essentially it’s all about
communication, trust and long-term
relationships. For companies a good
reputation inspires loyalty, attracts new
consumers, strengthens your supplier
relationships, keeps the regulators from
your door, protects you during a crisis,
and ultimately works to drive value
and profitability.
For individuals in any business a good
reputation is one of your most valuable
assets but it’s difficult to acquire and
manage, yet all too easy to damage or
destroy. And once it’s dented, it can take
years to recover – and sometimes it never
does. It’s exactly the same for a business.
Reputation managers are experts in
relationship management and two-
way communications. It’s more than
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