More and more organisations in all sectors and markets recognise the true strategic and financial value of their reputations. They are therefore moving away from reputation as something that needs ‘just managing’ towards seeing it as an asset that requires a full strategy overseen at a senior level.
Regester Larkin by Deloitte helps clients develop and execute reputation strategies. This often starts with a full reputation assessment: what it is, what the drivers of it are and what interventions might be needed over time. Importantly, an organisation needs to understand what it wants its reputation to be: there is no such thing as a one-size-fits-all reputation goal.
A reputation strategy typically looks at how an organisation can maintain its reputation through excellence in delivery, enhance its reputation through specific interventions designed to address a concern or further cement a perception, protect its reputation through excellence in crisis management, issues management and wider organisational resilience, and use reputation through leveraging goodwill to create a climate in which organisational goals can be reached.
Devising such a reputation strategy may seem onerous, but much of it is bringing together for high-level consideration work that is already being done in many different parts of an organisation. And, with shareholders and stakeholders increasingly recognising the value of this asset, addressing it with a comprehensive strategy is the right thing to do.