Yes, the waterÂ´s lovely.
Â´FuzzyÂ´ the thermometer duck says the pool is 30. The crystal clear waters are all mine. A Sevilla supporters cap and sunshades are on hand to protect against the 41 degree heat, so why is this sad case reading the Harvard Business Review? Only because Floridian risk management experts Rob Eccles and Scott Newquist, along with Lugano-based Roland Schatz, have developed an engaging new framework for managing reputational risk, that BA, Virgin et al mightÂ´ve wished theyÂ´d seen before the recent Â´price fixingÂ´scandal. While IÂ´ll ask the guys if I can feature their framework on this site, my own teaching echoes their assertion that the three main indictors that youÂ´re reputation could disappear down the gurgler are as followÂ¨:
A The reputation vs reality gap
B Changing belifs and expectations among stakeholders
C Weak internal co-ordination (and, IÂ´ll add, inadequate comprehension of the potential damage of negative reputational coverage).
Their framework for better reputational management (which Rob, Scott and Roland can doubtlessly implement for over six $ figures the HBR article suggests) broadly entails:
1 Assess reputation
2 Evaluate reality
3 Close any gaps (between the above two)
4 Monitor changing stakeholder beliefs, attitudes etc
5 Put one person in charge of reputation (but not a Â´spin doctorÂ´)
Their work isnÂ´t rocket science, adhering closely to the tenets of issues management and scenario planning rather than crisis management. In chart form, itÂ´ll doubtless help all players in the corporate rep mgmt team, understand how the whole situation can best be approached.
As Benjamin Franklin said (and the guys remind us) It takes many good deeds to build a good reputation, and only one bad one to lose it.”