Reputation management is the understanding or influencing of an individual's or business's reputation. It was originally coined as a public relations term, but advancement in computing, the internet and social media made it primarily an issue of search results. Although it is often associated with ethical grey areas, such as astroturfing review sites, censoring negative complaints or using SEO tactics to game the system and influence results, there are also ethical forms of reputation management, such as responding to customer complaints, asking sites to take down incorrect information and using online feedback to influence product development.
Reputation:
General evaluation of a company by its various stakeholders. Incorporates both, cognitive and emotional components. An assessment of reputation is based on factual experiences as well as on perceptions relying on communicated messages.
The monitoring function of "reputation management" is an extension of" management by walking about."It gathers intelligence from the environment and helps keep managers informed. Monitoring builds situational awareness, but it can also lead to paralysis when there are competing opinions. The decisive manager filters then defines basic principles then acts through persuading organization to follow using incentives and punishments. The reputation of the organization comes partially from perception so faction sand partially from misinformed observations. While public relation scan communicate accurately what the organization is doing and try to reduce misinformation, it doesn't have incentives or punishments to stop rumor-mongers, agitators, disgruntled investors, unhappy employees, arrogant regulators or committed activates.
Key words and concepts
* reputation management consulting
* reputational risk
* crisis response and communication plan
* domino theory
* ethics
* office emergency
Today's enlightened companies have come to realise that reputation is an asset that needs to
be managed proactively. These companies have realised that the scrutiny under which
business operates today and the amount of information in the hands of consumers and
other members of the public, make reputation a vital asset, and in some industries, the most
important asset.The sources of reputational risk are many and varied. Managers need to receive training in sustaining and protecting their organisation's reputation. HR Practitioners can only accept this duty as part of their role once the reasons for or sources of risk have been ascertained. The following examples illustrate some of these sources of reputational risk:
Increasing exposure through an
expanding Internet
Acting too late
Given the damage that unfavorable information or behavior can cause an organization,
reputation management cannot be left to chance, but should be well-planned and executed.
By implication, addressing issues that could potentially be harmful to a company's reputation enhances organizational goal attainment. The HR department should play a leading and monitoring role in the management of corporate reputation by conducting
regular vulnerability audits, and by offering guidelines for the development of a holistic
reputation management strategy.
Important aspects of reputation Management:
* Reputation management entails perceptions well as reality.
* Reputation is an asset that should be managed proactively.
* The objectives of reputation management relates to the establishment, maintenance
and protection of the organization's image.
* Organizational reputation is influenced by Internet exposure, impersonal and discourteous behavior, and acting too late in a given situation.
* The basis of reputation management is a vulnerability audit, which can be coordinated by the HRM department. The aim is to establish and maintain the organization's reputation.
* A crisis response and communication plan assists the organization in dealing
constructively with crises.
* Communication should be conducted in line with the special communication
needs of various stakeholder groups.
* The Internet, as a communication tool, offers both challenges and opportunities
during a crisis.
* An office emergency plan deals with physical crisis situations such as a fire.
* Corporate ethics cannot be separated from reputation management.
* Establishing an ethical culture and providing for a whistle-blowing policy contribute
to corporate reputation.
Conclusion
Complete and effective reputation management requires a multi-disciplinary approach,
or a Total Reputation Management (TRM) approach. Building a reputation, sustaining a
reputation, and protecting a reputation are each different objectives and each require different techniques and capabilities. TRM incorporates multiple disciplines and methods
to meet multiple requirements. One of my goals this year was to do a study on reputation management. As we all factor in the effects of new media on our brands, I felt this was a topic with long-lasting appeal to every marketer.
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