Careers In Rep Mgmt 05 Aug2009 Webinar

Developing a Career in Reputation Management

5 August 2009Reputation Institute

Technical Information

Reputation Institute’s Knowledge Center

More information on membership benefits may be found on our website at http://www.reputationinstitute.com/knowledge-center/membership

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

Charles Fombrun Chairman & Co-Founder

Reputation Institute

Kasper Ulf Nielsen Managing Partner

Linda LockeSVP, Group Head, Reputation

& Issues ManagementMasterCard Worldwide

Speakers

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

1. “Reputation” is a topic of growing interest…

Visibility in Print Media Coverage (2000-2008)

Mentions of “corporate reputation” in Factiva print article database; 1Jan99 – 31Dec08

Visibility in Online Media Coverage (1990-2008)

Mentions of “corporate reputation” in Google News article database; 1990 – 2008

Reputation Bookshelf

1995 2010

Corporate Reputation Review 13 Volumes1997-2009

Ongoing Academic JournalPeer ReviewedPublished Quarterly with Palgrave MacMillan

“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

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?

Reputation Management has Evolved:From passive assessment to active engagement

Focus on corporate reputation

– the organization behind the brands

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

2000Anti-corporate activism –

boycotts based on the companies’ behavior

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

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

Reputation Strategy Engages All Stakeholders,Directly & Indirectly

Example from Novo Nordisk

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

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

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

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

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

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

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

S&P 500

HIGH REPUTATIONPORTFOLIO

CumulativeReturns

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

Aligned?

3. The Skills of Reputation Managers

Reputation Management at MasterCard Worldwide

Manage reputation by building trust and esteem among key stakeholders

Provides Analytics, Analysis, Advice to Impact Corporate Communications Strategy, Execution

DedicatedReputation

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

Corporate Comm.

Investor Relations Sales

Advertising

Human Resources

Public Affairs

Marketing

Reputation Champion

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• ??

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

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

Competing Values Framework

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

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

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

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

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

skerker@reputationinstitute.com

Kasper Ulf Nielsen Managing Partner

knielsen@reputationinstitute.com

For more information please contact us

www.reputationinstitute.com

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Reputation Instituteinfo@reputationinstitute.comwww.ReputationInstitute.com

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.

Careers In Rep Mgmt 05 Aug2009 Webinar

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