Download Managing Corporate Reputation: The New Currency (Thorogood by Susan Croft, John Dalton PDF
By Susan Croft, John Dalton
'You can't forget about that firms are below the microscope as by no means before."It's no longer miraculous that popularity has moved to the centre of strategic considering. yet what number businesses know the way to regulate or degree it - not to mention have a name approach? some distance too few.Now this specialist, readable and useful record places that right.The dynamics of company acceptance and the criteria governing is are complicated. Will a moral stance bring about grown of acceptance capital? Will that lead to more desirable monetary functionality? What are the problems which could influence so much on acceptance, and the way top to minimise risk?Factors that experience enthusiastic about fiercer highlight on reputation:corporate scandals uncovered within the mediapressure from NGOscorporate governance issuesglobalisation and elevated competitiontrade liberalisation and extending competitionThis record indicates you ways to:develop PR, manufacturers and courting administration because the vanguards of your company reputationstrengthen your inner in addition to exterior communicationsimprove the powerful administration of your stakeholdersbuild belief within the company at a time of failing self assurance and lengthening media strain
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Extra info for Managing Corporate Reputation: The New Currency (Thorogood Professional Insights series)
36 THOROGOOD PROFESSIONAL INSIGHTS 2 S TA K E H O L D E R S Who is a stakeholder? What exactly does ‘stakeholder’ mean? The word was first recorded in 1708 as ‘a person who holds the stake or stakes in a bet’. Today’s standard dictionary definition is ‘a person with an interest or concern in something’. The term has been popularised by UK Prime Minister, Tony Blair, who first referred to the ‘stakeholder society’ in which every UK citizen has an interest or stake. From the corporate macro viewpoint, a stakeholder or resource-holder is any person or organization with an interest in how well a company performs or who can affect, or is affected by the achievement of a company’s objectives.
McKenna argues that without a good infrastructure to deliver brands and their ‘persistent presence’ in the market, no matter how good your brand, people will simply not buy it. Furthermore, he argues that with more sophisticated relationship management software and the increasing access people now have to brands, the marketing focus should shift away from traditional approaches to create a more direct relationship via mobile commerce and the Internet. Choice and access are now becoming as important as the brands themselves.
At the heart of reputation management must be an ethical commitment by a corporation to seek a better way of conducting business that also takes into account the social and environmental impact of its operations. Outside of the more immediate financial forces that shape reputation, the additional pressures tend to arise from the priorities of NGOs who seek to monitor and influence social and environmental issues. It is important for corporations not to be seen adjusting corporate policy simply to placate outside forces, but to somehow balance their interests, so that financial performance is maximized, but not by ignoring the concerns of stakeholders other than shareholders.