Careers In Rep Mgmt 05 Aug2009 Webinar
- 1. Developing a Career in Reputation Management Reputation Institute 5 August 2009
- 2. Technical Information Copyright 2009. Reputation Institute. All Rights Reserved. 2
- 3. Reputation Institute’s Knowledge Center More information on membership benefits may be found on our website at http://www.reputationinstitute.com/knowledge-center/membership Copyright 2009. Reputation Institute. All Rights Reserved. 3
- 4. The RI Community Over 8000 Participants 70 Active Corporate Members 1750+ Active Individual Members Reputation Institute.com Repository of Cases, Insights, Articles, Databases and Scholarly Works on Reputation related topics Daily coverage of Reputations in the news Archive of 10+ years of conference papers and presentations from RI’s International Conferences Indispensable tools such as the Baseline Reputation Management Diagnostic and List of Lists Social Media Reputation Blog Linked-In Facebook Twitter Copyright 2009. Reputation Institute. All Rights Reserved. 4
- 5. Speakers Linda Locke Charles Fombrun Kasper Ulf Nielsen SVP, Group Head, Reputation Chairman & Co-Founder Managing Partner & Issues Management Reputation Institute Reputation Institute MasterCard Worldwide Copyright 2009. Reputation Institute. All Rights Reserved. 5
- 6. 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 Copyright 2009. Reputation Institute. All Rights Reserved. 6
- 7. 1. “Reputation” is a topic of growing interest…
- 8. Visibility in Print Media Coverage (2000-2008) Mentions of “corporate reputation” in Factiva print article database; 1Jan99 – 31Dec08 Copyright 2009. Reputation Institute. All Rights Reserved. 8
- 9. Visibility in Online Media Coverage (1990-2008) Mentions of “corporate reputation” in Google News article database; 1990 – 2008 Copyright 2009. Reputation Institute. All Rights Reserved. 9
- 10. Reputation Bookshelf 1995 2010 Corporate Reputation Review 13 Volumes 1997-2009 Ongoing Academic Journal Peer Reviewed Published Quarterly with Palgrave MacMillan Copyright 2009. Reputation Institute. All Rights Reserved. 10
- 11. “Reputation” in Executive Profiles “Reputation” in Profile “Reputation” & Communication “Reputation” & Governance “Reputation” & CSR “Reputation” in Job Title Source: Keyword searches on www.linkedin.com --31July 2009 Copyright 2009. Reputation Institute. All Rights Reserved. 11
- 12. Linda Locke SVP, Group Head, Reputation & Issues Management MasterCard Worldwide Copyright 2009. Reputation Institute. All Rights Reserved. 12
- 13. MasterCard Reputation and Issues Management - A Dedicated Team Seeks to improve reputation by understanding stakeholder Group Head perceptions and how they are formed; analyzing risks; Reputation and launching programs; advising Issues Management the company. Social Media, Media Business Consumer Influencers Analysis Admin Education Seeks to improve Seeks to improve Provides financial Seeks to improve reputation through reputation through management reputation through stakeholder analysis of public support to comms consumer engagement, dialogue, providing team. education, research on measurement, trends, engagement. perceptions. customized risk analysis to business units.
- 14. 2. What Does Reputation Management Involve?
- 15. Reputation Management has Evolved: From passive assessment to active engagement Reputation Systems Reputing Using Reputation Active engagement with Measurement as 2010 stakeholders to build decision making tools trust, respect and for actions support Corporate reputation Anti-corporate activism – measurement – how are 2000 boycotts based on the people perceiving companies’ behavior companies 1990 Focus on corporate reputation – the organization behind the brands Copyright 2009. Reputation Institute. All Rights Reserved. 15
- 16. A Mindshift: From Brand to Reputation, from Internal to External, from Product to Company Brand Reputation The promise an organization makes Perception about the degree to which to its stakeholders you fulfill your brand promise “Owned” by the company “Owned” by stakeholders A brand is a promise… if you live up to that promise you build Reputation Copyright 2009. Reputation Institute. All Rights Reserved. 16
- 17. Reputation Management is Stakeholder Based General Opinion Policy Potential Public Elites Makers Employees Lobbyists Employees Customers Investors Industry B2B Partner Academic Associations Customers Companies Organizations Media Regulators ??? Copyright 2009. Reputation Institute. All Rights Reserved. 17
- 18. Reputation Strategy Engages All Stakeholders, Directly & Indirectly Example from Novo Nordisk Copyright 2009. Reputation Institute. All Rights Reserved. 18
- 19. Maintaining Management Involves Aligning Reality and Perceptions Change is required to alter Change is required to alter ’reality’ and minimize ’reality’ and minimize reputational risk reputational risk Communication is required to Communication is required to capitalize on good reality and capitalize on good reality and overcome poor perceptions overcome poor perceptions Copyright 2009. Reputation Institute. All Rights Reserved. 19
- 20. It therefore requires understanding how Perceptions and Support are Created Direct Experiences Products Investments Customer Employment Service What Company Says Branding Marketing Support Public Social Relations Responsibility What Others Say MEDIA Topics (Traditional, Experts/Leaders Social) Social Networks Copyright 2009. Reputation Institute. All Rights Reserved. 20
- 21. 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 Copyright 2009. Reputation Institute. All Rights Reserved. 21
- 22. Reputation Managers are Always Involved in Cross-Functional Integration environmental policies financial governance reporting policies workplace policies Cross-Functional advertising Integration product development philanthropy sponsorships communications media campaigns coverage product CSR customer packaging activities service Copyright 2009. Reputation Institute. All Rights Reserved. 22
- 23. Reputation Managers Help a Company to Express Itself …and thereby build Reputation Visible – company communicates often and widely Visible Distinctive – the way the company communicates makes it stand out from its competitors Responsive Distinctive Consistent – company conveys a consistent message across its communications Transparent – company provides an appropriate amount of Expressive information about what it does and how it operates Sincere – company appears genuine about what it says and does Sincere Consistent Responsive – company invites and welcomes feedback about its activities about what it says and does Transparent Copyright 2009. Reputation Institute. All Rights Reserved. 23
- 24. Reputation Managers must also understand how reputation impacts the bottom line, directly & indirectly Strategic Planning Financial Corporate Results Initiatives Supportive Behaviors Perceptions of towards the the company company (Reputation) • • Purchase products Purchase products • • Products/Services Products/Services • • Invest in company Invest in company • • Innovation Innovation • • Recommend the Recommend the • • Workplace Workplace company/products company/products • • Governance Governance • • Work for company Work for company • • Citizenship Citizenship • • Give benefit of doubt Give benefit of doubt • • Leadership Leadership • • Performance Performance Copyright 2009. Reputation Institute. All Rights Reserved. 24
- 25. 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. Cumulative Returns HIGH REPUTATION 4 0 .0 0 % PORTFOLIO 2 0 .0 0 % S&P 500 0 .0 0 % -2 0 .0 0 % -4 0 .0 0 % -6 0 .0 0 % J u 00 J u 01 J u 02 J u 03 J u 04 J u 05 J u 06 A -00 A -01 J a -0 1 A -02 J a -0 0 J a -0 2 A -03 J a -0 3 A -04 J a -0 4 A -05 J a -0 5 A -06 6 O 0 O -0 1 O -0 2 O -0 3 O -0 4 O 5 O -0 6 -0 l-0 l-0 - - - - - - - pr pr pr pr pr pr pr ct ct ct ct ct ct ct l l l l l n n n n n n n Ja Copyright 2009. Reputation Institute. All Rights Reserved. 25
- 26. Reputation Managers must therefore understand and support efforts to Create Alignment in their companies Identity Who are we? How do we want to be perceived? Mission, Vision, Identity Al d? ign ne ed ig Al ? Reputation Platform Capabilities Expectations What are our capabilities? What do stakeholders expect? How are we distinctive? Capabilities Expectations How can we exceed expectations? Aligned? Copyright 2009. Reputation Institute. All Rights Reserved. 26
- 27. 3. The Skills of Reputation Managers
- 28. Reputation Management at MasterCard Worldwide Manage reputation by building trust and esteem among key stakeholders Copyright 2009. Reputation Institute. All Rights Reserved. 28
- 29. Provides Analytics, Analysis, Advice to Impact Corporate Communications Strategy, Execution Business Media Units Business Units, Management, Relations Employees Regional Legal/ Comms Regulatory Dedicated Public Policy Reputation Team Operations Internal Comms Comms Management, Executive Management, Employees Comms Employees Internal, external audiences
- 30. Roadmap for the Reputation Management Function Enterprise Active Perception Reputation Ad Hoc Management Competence •Message creation •Messaging built on drivers •Catalyst for business unit change Comms role •Positioning •Address stakeholder perceptions •Protocols for risk management •Damage containment •Identify emerging risks •Crisis plans created •Build systems to manage issues • Tools to influence business unit Typical •Mission/vision/values •Prioritize threat decision-making activities •Philanthropy, •Engage with stakeholders •Measure, manage gap between community relations •Engage in citizenship current/strategy-aligned reputation •Positions for emerging issues •Local communications •Corporate owns proactive • BoD, Executive office directing Locus of owns response to reputation management reputation strategy management reputation threats •Local offices execute supportive • BU managers, enabled by •Corporate owns large programming, messaging Communications, own key aspects of issues reputation management Measurement •Monitors impressions •Measure sentiment, perception •Business unit behavioral change = changes fewer risks, better perceptions Adapted from: Communications Executive Council, Refocusing Reputation Management: Building Enterprise-Wide Reputation Management Capability, Washington D.C.: Corporate Executive Board 2006
- 31. Effective Implementation of Reputation Platforms Requires Knowledge of all the different business areas Marketing Customer Public Affairs Service Human Legal Resources Reputation Champion Corporate Advertising Comm. Investor Sales Relations Copyright 2009. Reputation Institute. All Rights Reserved. 31
- 32. 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 • ?? Copyright 2009. Reputation Institute. All Rights Reserved. 32
- 33. 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 Copyright 2009. Reputation Institute. All Rights Reserved. 33
- 34. 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 Copyright 2009. Reputation Institute. All Rights Reserved. 34
- 35. Competing Values Framework A view of the diverse management skills needed to address organizational problems and create value. Source: Quinn, Rohrbaugh, Cameron Copyright 2009. Reputation Institute. All Rights Reserved. 35
- 36. Framing the Skills that Reputation Managers Need Copyright 2009. Reputation Institute. All Rights Reserved. 36
- 37. Framing the Reputation Management Job Employees Customers Investors & Regulators Opinion Media Public Analysts Elites Building Reputation Cognitive/Analytical Skills Capital Maintaining Reputation Capital Defending Reputation Capital Process/Communication/Organization Skills Copyright 2009. Reputation Institute. All Rights Reserved. 37
- 38. 4. Developing Careers in Reputation Management
- 39. 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
- 40. Step 1: Join the RI Community Over 8000 Participants 70 Active Corporate Members 1750+ Active Individual Members Reputation Institute.com Repository of Cases, Insights, Articles, Databases and Scholarly Works on Reputation related topics Daily coverage of Reputations in the news Archive of 10+ years of conference papers and presentations from RI’s International Conferences Indispensable tools such as the Baseline Reputation Management Diagnostic and List of Lists Social Media Reputation Blog Linked-In Facebook Twitter Copyright 2009. Reputation Institute. All Rights Reserved. 40
- 41. Step 2: Reputation Management Training Program Copyright 2009. Reputation Institute. All Rights Reserved. 41
- 42. Faculty for Reputation Training Charles Fombrun Majken Schultz Paul Argenti Ana Luísa Almeida Chairman, Professor, Copenhagen Professor of Corporate Managing Director RI Brazil, Reputation Institute Business School Communication Professor , Pontifícia Dartmouth College Universidade Católica de Minas Gerais Prakash Sethi Arif Zaman Irv Schenkler Pietro Mazzola University Distinguished Professor Principal Consultant Director of the Management Full Professor of Business, Baruch College Reputation Institute Communication Program Management at IULM Founder & President, ICCA NYU Stern School of Business University Leonard Ponzi Craig Carroll Naomi Gardberg Claudia Gabbioneta Managing Director of Director, Carolina Observatory Associate Professor co-author of Corporate Research and Analytics, on Corporate Reputation Zicklin School of Business Reputation and Stock Reputation Institute University North Carolina Baruch College Market Behavior Copyright 2009. Reputation Institute. All Rights Reserved. 42
- 43. 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
- 44. For more information please contact us Seth Kerker Kasper Ulf Nielsen Director Managing Partner Knowledge Center Reputation Institute [email protected] [email protected] www.reputationinstitute.com Copyright 2009. Reputation Institute. All Rights Reserved. 44
- 45. Click to edit Master text styles Second level Third level Fourth level About Reputation Institute Fifth level Reputation Institute Reputation Institute is the world's leading reputation consulting firm. As a pioneer in the field [email protected] of brand and reputation management, Reputation Institute helps companies unlock the power www.ReputationInstitute.com 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. Australia • Bolivia • Brazil • Canada • Chile • China • Colombia • Denmark • France • Germany Greece • India • Ireland • Italy • Japan • Netherlands • Norway • Portugal • Russia • South Africa • Spain Sweden • Switzerland • Turkey • Ukraine • United Arab Emirates • United Kingdom • United States Copyright 2009. Reputation Institute. All Rights Reserved. 45