In this case study-based report, CIMA analyses the importance of an organisation’s reputation and how it can be managed in an era of 24-hour rolling news and increased social networking. Issues that will be covered include understanding the difference between brand and reputation, how to quantify reputation, and how to integrate reputation into your strategy.
- Organisational reputations have currency as evidenced in share value, operational costs and market opportunities.
- Social networking has reduced the organisation’s control over its reputation. As a result, the pressure on organisations to understand how they are being presented and what they need to do internally has increased significantly.
- Reputation is created from within. As such, its definition and quantification can and need to be incorporated into both strategic and operational planning and oversight.
- Assessed correctly, reputation is an innovation driver and can open the organisation to new markets and market opportunities.
- Quantification of reputation comes, most easily, from an analysis of errors of omission and commission – which, when addressed, provide clear direction for organisational improvement and increased employee morale and productivity leading to greater shareholder value and broader market opportunities.