careers in rep mgmt 05 aug2009 webinar
DESCRIPTION
"Developing a Career in Reputation Management" If you missed the live broadcast of this introductory webinar presenting a summary of the strategies and ideas taken from our newly launched Reputation Management Training and Certification program, you can view the presentation here.TRANSCRIPT
Developing a Career in Reputation Management
5 August 2009Reputation Institute
Technical Information
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Reputation Institute’s Knowledge Center
More information on membership benefits may be found on our website at http://www.reputationinstitute.com/knowledge-center/membership
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The RI Community
Over 8000 Participants70 Active Corporate Members1750+ Active Individual Members
Reputation Institute.comRepository of Cases, Insights, Articles, Databases and Scholarly Works on Reputation related topicsDaily coverage of Reputations in the newsArchive of 10+ years of conference papers and presentations from RI’s International ConferencesIndispensable tools such as the Baseline Reputation Management Diagnostic and List of Lists
Social MediaReputation BlogLinked-InFacebookTwitter
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Charles Fombrun Chairman & Co-Founder
Reputation Institute
Kasper Ulf Nielsen Managing Partner
Reputation Institute
Linda LockeSVP, Group Head, Reputation
& Issues ManagementMasterCard Worldwide
Speakers
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Outline
1. Reputation is a topic of continuing/growing interest
2. What does Reputation Management Involve?
3. The Skills of Reputation Managers
4. Developing Careers in Reputation Management
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1. “Reputation” is a topic of growing interest…
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Visibility in Print Media Coverage (2000-2008)
Mentions of “corporate reputation” in Factiva print article database; 1Jan99 – 31Dec08
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Visibility in Online Media Coverage (1990-2008)
Mentions of “corporate reputation” in Google News article database; 1990 – 2008
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Reputation Bookshelf
1995 2010
Corporate Reputation Review 13 Volumes1997-2009
Ongoing Academic JournalPeer ReviewedPublished Quarterly with Palgrave MacMillan
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“Reputation” in Executive Profiles
Source: Keyword searches on www.linkedin.com --31July 2009
“Reputation” in Job Title
“Reputation” in Profile
“Reputation” & Communication
“Reputation” & Governance
“Reputation” & CSR
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Linda LockeSVP, Group Head, Reputation
& Issues ManagementMasterCard Worldwide
MasterCard Reputation and Issues Management - A Dedicated Team
Group HeadReputation and
Issues Management
Social Media,Influencers
MediaAnalysis
BusinessAdmin
ConsumerEducation
Seeks to improvereputation throughstakeholder engagement, research on perceptions.
Seeks to improvereputation throughanalysis of public dialogue, providing measurement, trends, customized risk analysis to business units.
Provides financialmanagementsupport to commsteam.
Seeks to improvereputation throughconsumer education, engagement.
Seeks to improve reputation by understanding stakeholder perceptions and how they are formed; analyzing risks; launching programs; advising the company.
2. What Does Reputation Management Involve?
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Reputation Management has Evolved:From passive assessment to active engagement
Focus on corporate reputation
– the organization behind the brands
1990
Corporate reputation measurement – how are
people perceiving companies
Reputing
Active engagement with stakeholders to build
trust, respect and support
Reputation Systems
Using Reputation Measurement as
decision making tools for actions
2010
2000Anti-corporate activism –
boycotts based on the companies’ behavior
Brand
The promise an organization makes to its stakeholders
“Owned” by the company
Reputation
Perception about the degree to which you fulfill your brand promise
“Owned” by stakeholders
A Mindshift:From Brand to Reputation, from Internal to External, from Product to Company
A brand is a promise…if you live up to that promise you build Reputation
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Reputation Management is Stakeholder Based
Employees Customers
Industry Associations
B2B Customers
Partner Companies
Academic Organizations
Investors
Media Regulators ???
Lobbyists
Potential Employees
Policy Makers
Opinion Elites
General Public
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Reputation Strategy Engages All Stakeholders,Directly & Indirectly
Example from Novo Nordisk
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Maintaining Management Involves Aligning Reality and Perceptions
Change is required to alter ’reality’ and minimize
reputational risk
Change is required to alter ’reality’ and minimize
reputational risk
Communication is required to capitalize on good reality and overcome poor perceptions
Communication is required to capitalize on good reality and overcome poor perceptions
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ProductsCustomer Service
InvestmentsEmployment
Direct Experiences
BrandingPublic Relations
MarketingSocialResponsibility
What Company Says
Support
MEDIA (Traditional, Social)
Topics Experts/LeadersSocial Networks
What Others Say
It therefore requires understanding how Perceptions and Support are Created
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Managing Reputation Requires Working with All of the Drivers of Reputation
Calls for a common framework to understand perceptions of
all stakeholders…
e.g. the RepTrak™ System
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Cross-FunctionalIntegration
Cross-FunctionalIntegrationadvertising
sponsorships
customer service
product packaging
philanthropy
CSR activities
workplace policies
governance policies
environmentalpolicies
financial reporting
product development
communicationscampaigns
media coverage
Reputation Managers are Always Involved in Cross-Functional Integration
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Reputation Managers Help a Company to Express Itself …and thereby build Reputation
Responsive
Sincere
Transparent
Consistent
Distinctive
Visible
Expressive
Visible – company communicates often and widely
Distinctive – the way the company communicates makes it stand out from its competitors
Consistent – company conveys a consistent message across its communications
Transparent – company provides an appropriate amount of information about what it does and how it operates
Sincere – company appears genuine about what it says and does
Responsive – company invites and welcomes feedback about its activities about what it says and does
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Reputation Managers must also understand how reputation impacts the bottom line, directly & indirectly
Financial Results
Strategic Planning
CorporateInitiatives
Perceptions of the company(Reputation)
Supportive Behaviors
towards the company
• Purchase products• Invest in company• Recommend the
company/products• Work for company• Give benefit of doubt
• Purchase products• Invest in company• Recommend the
company/products• Work for company• Give benefit of doubt
• Products/Services• Innovation• Workplace• Governance• Citizenship• Leadership• Performance
• Products/Services• Innovation• Workplace• Governance• Citizenship• Leadership• Performance
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So Reputation Managers must understand how they contribute to creating and defending the intangible assets of their companies
Research shows that from 50% to 90% of the market value of listed companies consists of intangible assets – assets whose value is not accounted for in financial statements.
-60 .00%
-40 .00%
-20 .00%
0 .00%
20 .00%
40 .00%
Jan-00Apr-0
0Jul-0
0Oct-0
0Jan-01Apr-0
1Jul-0
1Oct-0
1Jan-02Apr-0
2Jul-0
2Oct-0
2Jan-03Apr-0
3Jul-0
3Oct-0
3Jan-04Apr-0
4Jul-0
4Oct-0
4Jan-05Apr-0
5Jul-0
5Oct-0
5Jan-06Apr-0
6Jul-0
6Oct-0
6
S&P 500
HIGH REPUTATIONPORTFOLIO
CumulativeReturns
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Reputation Managers must therefore understand and support efforts to Create Alignment in their companies
Expectations What do stakeholders expect?
How can we exceed expectations?
IdentityWho are we?
How do we want to be perceived?
CapabilitiesWhat are our capabilities?How are we distinctive?
ReputationPlatform
Mission,Vision, Identity
Capabilities Expectations
Aligne
d?
Aligned?
Aligned?
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3. The Skills of Reputation Managers
Reputation Management at MasterCard Worldwide
Manage reputation by building trust and esteem among key stakeholders
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Provides Analytics, Analysis, Advice to Impact Corporate Communications Strategy, Execution
DedicatedReputation
Team
ExecutiveComms
Legal/Regulatory
InternalComms
MediaRelations
Operations Comms
Regional Comms
Public Policy
Management,Employees
Internal,external
audiences
Management,Employees
Business Units,Management,
Employees
BusinessUnits
Roadmap for the Reputation Management Function
Ad HocActive PerceptionManagement
Enterprise ReputationCompetence
•Message creation•Positioning•Damage containment
•Crisis plans created•Mission/vision/values •Philanthropy, community relations
•Local communications owns response to reputation threats•Corporate owns large issues
•Monitors impressions
•Messaging built on drivers•Address stakeholder perceptions•Identify emerging risks
•Build systems to manage issues•Prioritize threat•Engage with stakeholders•Engage in citizenship•Positions for emerging issues
•Corporate owns proactive reputation management •Local offices execute supportive programming, messaging
•Measure sentiment, perception changes
•Catalyst for business unit change•Protocols for risk management
• Tools to influence business unit decision-making•Measure, manage gap between current/strategy-aligned reputation
• BoD, Executive office directing reputation strategy• BU managers, enabled by Communications, own key aspects of reputation management
•Business unit behavioral change = fewer risks, better perceptions
Comms role
Typicalactivities
Locus of management
Measurement
Adapted from: Communications Executive Council, Refocusing Reputation Management: Building Enterprise-Wide Reputation Management Capability, Washington D.C.: Corporate Executive Board 2006
Effective Implementation of Reputation Platforms Requires Knowledge of all the different business areas
Customer Service
Legal
Corporate Comm.
Investor Relations Sales
Advertising
Human Resources
Public Affairs
Marketing
Reputation Champion
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Backgrounds & Career Patterns of RM Executives
The Loyalists• Single Company• Multi-Functional• Multi-Divisional
The Committed:• Single Industry• Multi-Functional
The Mobile• Multi-Industry• Multi-Functional
The Water-Walkers• ??
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Sampling of Job Descriptions in Reputation Management
Backgrounds:• Bachelor's degree in communications or a related field
• Communications, public affairs and/or community relations and diversity
• Planning, developing and executing communication and outreach strategies that leverage message, image and position
• Project management skills that include strategic planning, cost management and execution, as well as the ability to multi-task among multiple projects against varied audiences
• Forging strategic, working relationships with key external constituencies
• Managing external agencies and consultants
34Copyright 2009. Reputation Institute. All Rights Reserved.Copyright 2009. Reputation Institute. All Rights Reserved.
Sampling of Job Descriptions in Reputation Management
Skills and Knowledge:• Exceptional planning, organizational, prioritization and multi-tasking management skills
• Exceptional interpersonal and relationship development skills
• Solid problem-solving, conflict resolution and decision-making skills
• Ability to balance creativity, issues management and opportunities to generate awareness with resourcefulness while continuously seeking opportunities for alignment and synergy
• Ability to effectively lead and manage projects and groups
• Understanding of CSR/CSI practices, trends and measurements nationally and globally
• Developing communications campaigns and key messaging for stakeholders, incorporating key messages and leveraging multi-media channels
• Excellent oral, written, and visual communications skills, including superior editing and proofreading abilities
• Advanced communication and presentation skills reflecting the ability to interact effectively with all internal and external audiences, clearly articulating concepts, strategies and position in a manner that reflects positively on the company
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Competing Values Framework
35
A view of the diverse management skills needed to address organizational problems and create value.
Source: Quinn, Rohrbaugh, Cameron
Framing the Skills that Reputation Managers Need
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Framing the Reputation Management Job
Employees Customers Investors & Analysts
Regulators Opinion Elites
Media Public
Building ReputationCapital
Maintaining ReputationCapital
Defending ReputationCapital
Process/Communication/Organization Skills
Cognitive/A
nalytical Skills
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4. Developing Careers in Reputation Management
Key action points to take
1. Participate in the reputation community to build networks and knowledge
2. Upgrade skills through formal training and education
3. Stimulate the reputation conversation within your own organization
Step 1: Join the RI Community
Over 8000 Participants70 Active Corporate Members1750+ Active Individual Members
Reputation Institute.comRepository of Cases, Insights, Articles, Databases and Scholarly Works on Reputation related topicsDaily coverage of Reputations in the newsArchive of 10+ years of conference papers and presentations from RI’s International ConferencesIndispensable tools such as the Baseline Reputation Management Diagnostic and List of Lists
Social MediaReputation BlogLinked-InFacebookTwitter
40Copyright 2009. Reputation Institute. All Rights Reserved.
41Copyright 2009. Reputation Institute. All Rights Reserved.
Step 2: Reputation Management Training Program
Faculty for Reputation Training
Charles FombrunChairman,Reputation Institute
Majken SchultzProfessor, Copenhagen Business School
Paul ArgentiProfessor of Corporate CommunicationDartmouth College
Ana Luísa AlmeidaManaging Director RI Brazil, Professor , Pontifícia Universidade Católica de Minas Gerais
Prakash SethiUniversity Distinguished Professor Business, Baruch CollegeFounder & President, ICCA
Arif ZamanPrincipal ConsultantReputation Institute
Irv SchenklerDirector of the Management Communication Program NYU Stern School of Business
Pietro MazzolaFull Professor of Management at IULM University
Leonard PonziManaging Director of Research and Analytics, Reputation Institute
Craig CarrollDirector, Carolina Observatory on Corporate ReputationUniversity North Carolina
Naomi GardbergAssociate ProfessorZicklin School of BusinessBaruch College
Claudia Gabbionetaco-author of Corporate Reputation and Stock Market Behavior
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Key action points to take
1. Participate in the reputation community to build networks and knowledge
2. Upgrade skills through formal training and education
3. Stimulate the reputation conversation within your own organization
Seth Kerker Director
Knowledge Center
Kasper Ulf Nielsen Managing Partner
Reputation Institute
For more information please contact us
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About Reputation Institute
Reputation Institute is the world's leading reputation consulting firm. As a pioneer in the field of brand and reputation management, Reputation Institute helps companies unlock the power of reputation. With a presence in more than 25 countries, Reputation Institute is dedicated to advancing knowledge about reputation and shares best practices and current research through client engagement, memberships, seminars, conferences, and publications such as Corporate Reputation Review. Reputation Institute's Global Pulse is the largest study of corporate reputations in the world, identifying what drives reputation and covering more than 1,000 companies from 27countries annually. Reputation Institute provides specific reputation insight from more than 15 different stakeholder groups and 24 industries, allowing clients to create tangible value from intangible stakeholder feelings.