According to Interbrand, more than 50% of a brands value is based on intangibles. This includes your brands reputation and overall corporate trust. Read more about how corporate ethics affects the bottom line with articles, videos, whitepapers and more from Ethisphere and other thought leaders.
J.P. Bilbrey is Chairman of the Board, President, and Chief Executive Officer for The Hershey Company, the largest producer of quality chocolate in North America and a global leader in chocolate and sugar confectionery. More Read More
You get it! This is what every company wants its consumers, customers, and other key stakeholders to say about it. You “get it”—you understand what they need, want, and value. The companies that last and thrive in a competitive marketplace are those who get it over and over again, year after year.
Fortune's Most Admired list was once the gold standard for corporate reputation. The much-anticipated list came out once a year and, for the longest time, the top 10 best companies rarely changed. As a former Marketing and Communications Director at Fortune, I can say that when we talked about strong corporate reputation, we discussed such things as which companies ran successful corporate advertising campaigns, what products they made, what services they rendered and, of course, how high stock prices rose in a given year.
So, let’s be clear up front: although the title of this article may sound promising, there is no easy formula for salvaging, repairing, or restoring a previously solid reputation in the aftermath of a negative event.
The Great Recession of 2008-2009 had profound consequences for business and government alike. Long-established companies such as GM and AIG were forced into bankruptcy. Euro-zone nations were compelled to bail out member states including Greece and Portugal. But the most long-lasting effect of the near-catastrophe may well be the fundamental destruction of trust in institutions.
Some of us believe the conduct of modern business in the Western world, especially the United States, has been positively influenced by an unwritten “social contract” that set forth public expectations from business in return for access to the public franchise that permits most kinds of business transactions.
In a climate where true product differentiation is difficult, the regulatory landscape challenging, global partner ecosystems vulnerable, and the pressure to hire high-potential talent intense, a company’s reputation is increasingly recognized as a business asset that is central to maintaining and growing business value.