SMA Reputation Management

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How is Reputation Management different than Public Relations?

Reputation Management and Public Relations are sometimes confused, though they are not the same. Public Relations are a tool that can be used to build reputation, but is usually associated with a short-term project or cause. Building reputation, on the other hand, is a long-term and ongoing process that takes into account a company’s or a brand’s relationship with all stakeholders and the values communicated to them over time. In this sense, PR is a valuable derivative of a company’s reputation management strategies/activities.

What are the short, medium and long-term objectives of Corporate Social Responsibility?

In general, the scope of Corporate Social Responsibility (also more recently referred to as Corporate Responsibility) is over a longer period of time, as a stepping stone toward achieving Sustainable Development. As defined by the Bruntlandtland Report, sustainable development is “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” As they look at their long-term economic security and benefit, companies are thus expected to operate in ways that mitigate any potential social and environmental damages. Finally, companies set their own CSR strategies, with short, medium and long-term objectives.

How prepared are most companies to handle crisis situations?

While many will experience crisis situations throughout their lifespan, most companies are not prepared – and surveys consistently show that advance planning saved them money. In fact, a crisis will usually come about especially due to lack of preparation and vision. The best crisis management strategy is a proactive one which is integrated into the overall corporate strategy.

What is the return on investment for an activity such as Reputation Management?

While some components of Reputation Management are more easily measured than others (specific PR and CSR campaigns, for example), the overall concept is more and more recognized as one of the essential drivers in companies’ long-term success, along with financial performance. Reputation is highly contingent on a brand’s relationship with stakeholders and this in turn impacts its success.