Over the past few weeks we have seen global and local brands reputation taking a beating. How have they managed this and can they regain their former “leading” reputation status in the market place? Regine le Roux, the founder and Managing Director of Reputation Matters shares insights into the industry that she operates in, that of the world of Communication and Reputation Management.
Nick von Stein and Regine le Roux examine how the industry of Communications is split into PR, Crisis Management, Reputation building/managing as well as other sub categories, we examine specific examples both locally and internationally that have been in the news recently and how they have (or haven’t) applied the concepts of communication when engaging with both the public and the business/investor community.
Key take outs from this discussion are:
- The more the boundaries between the organisation and its environment are reduced, the more organisations are able to build mutually beneficial relationships with their various stakeholders.
- It is important for the organisation to monitor and understand what is happening within their environment so that they can be proactive in response to changes affecting their stakeholders or themselves as an organisation.
- It is imperative for the organisation to know who their various stakeholders are and to understand that they comprise of many different audiences, such as investors, employees, clients, suppliers, government, local communities, the media etc.
- All these factors contribute to the perception that is formed by the various stakeholders, leading to the organisation’s reputation.
- It is important for the organisation to understand the values, requirements and specific needs of their stakeholders in order to live up to their expectations and to build on the organisation’s reputation. Ultimately, a good reputation contributes to a better bottom line, and will give an organisation the benefit of the doubt during troubled times.
- Corporate reputation has many facets and must be strategically managed and tailored to individual stakeholder audiences.