Corporate Reputation & Risk Management Brian Cronkhite – August 4, 2010
“A good name is better than riches.” -- Don Quixote
Reputation is shaped by perceptions • • •
They are formed by what people know, see, hear, read and experience They determine how people think and feel — and, therefore, how they behave Perception = reality
What do you see?
Reputation is shaped by perceptions • • •
They are formed by what people know, see, hear, read and experience They determine how people think and feel — and, therefore, how they behave Perception = reality
What do you see?
Reputation is shaped by perceptions • • •
They are formed by what people know, see, hear, read and experience They determine how people think and feel — and, therefore, how they behave Perception = reality
What do you see?
A good reputation is forged over‌
And a consistent, complex web of interactions‌
When reputation is good‌ Recommended as a place to work
Give the benefit of the doubt Recommend as JV Partner Recommend stock Pay more for products / services
When reputation is bad‌
“It takes 20 years to build a reputation and five minutes to ruin it.� -- Warren Buffet
A CHANGING ENVIRONMENT
6 communications trends re-shaping the RM equation
#1 Professionalism - of NGOs, Activists
#2 Transparency
#3 Accountability
#4 Dialogue
#5 Alignment
#6 Speed
‘
’
’
What role should communications play in RM? 1.
Corporate sensor –
identifies and assesses stakeholder sentiment
3. Corporate communicator –
Source: Harold Burson’s view on the role of Corp Communicator
speaks for the corporation in a truthful, timely manner
2. Corporate conscience –
contributes and participates in the decisionmaking process
4. Corporate monitor –
ensures company is delivering on its promises
Discussion
Brian Cronkhite
Talk to B-M online:
Managing Director, Corporate Practice, Greater China T: 86 21 5403 6950 brian.cronkhite@bm.com
http://www.burson-marsteller.asia