What Is a Reputation Worth?

I often remind clients that one of the most valuable things that come out of crisis management preparation is that you remind yourselves what you and your company stand for. Your values are reaffirmed. Your integrity is front and center. What you do and how you do it will stay with you and your organization for a long time, so it just makes sense to do the right thing. Planning makes that easier by taking at least some of the emotion out of decision making when the stress of a crisis hits.

Public relations people call that reputation management. The same fundamentals apply to brand management. Your reputation and your brand are tangible assets that can be hard to place a value on, but when you damage them you certainly lose a lot.

In light of recent and very public brand compromises such as BP, Rosanna M Fiske Chair and CEO of the Public Relations Society of America weighed in last week on just that subject in the magazine Marketing Week      http://tiny.cc/knwuz

Branding is not merely the communications of a company’s values and ethos, it is a strategic management function requiring skilled knowledge of how a company and its employees can best express what it is, what it stands for and what value others derive from its products and services.

Well said.

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