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Here's a rough summary of our worldview: excellence = design x culture. Your job as a leader is to get both right. In short, culture guides discretionary behavior and it picks up where the employee handbook leaves off. Culture tells us how to respond to an unprecedented service request. It tells us whether to risk telling our bosses about our new ideas, and whether to surface or hide problems. Employees make hundreds of decisions on their own every day, and culture is our guide. Culture tells us what to do when the CEO isn't in the room, which is of course most of the time. As part of our research for Uncommon Service, we went hunting for patterns among organizations with highly effective service cultures. The companies we studied all demonstrated high levels of the following — call them the 3Cs of culture...
Last week, Michael de la Merced wrote a column in The New York Times about Goldman Sachs’ reputational wake-up call. ...While words alone are unlikely to change public perception, they’re a start. To reboot its image, Goldman Sachs needs to do two things consistently well: (1) tell a new story and (2) back that story up with visible proof.
After the financial crisis, Blankfein underestimated the importance of both imperatives. He made few public statements and ignored the media. “While other banking chiefs vocally defended their companies, Mr. Blankfein largely remained quiet,” de la Merced notes.
With a new communication chief in place (former Clinton press secretary, Richard Siewert, Jr.), Goldman Sachs appears to be rethinking this approach. Silence can be a viable strategy for two groups of companies: (1) those that are unknown and want to stay under-the-radar and (2) those whose positive reputation precedes them. It’s rarely an effective way to repair a battered reputation....
When I started to run my own business years ago, I never would have guessed that, come 2012, I would be expected to update the internet on my life in 140 characters or less. Yet here I am, keeping as close an eye on my Twitter feed as I do on my iPhone and e-mail. In this digital age CEO’s are expected to tweet. An excellent little article by e-marketer on research done by social branding firm BRANDFog tells us that 78% of people surveyed on topics related to businesses using social media felt that CEO participation leads to better communication, and 77% of respondents said they were either more likely or much more likely to buy a product from a company that uses social media to help define a company’s image....
When you browse the aisles of your grocery store, fill up your tank at the gas station, or book a flight online, chances are, when you make a decision to choose one brand over another, you're influenced more by the company's reputation than by any particular product it offers. ...In the first quarter of 2012, Reputation Institute conducted an online study among 10,198 consumers. It measured consumers’ perceptions of those companies among the 150 largest in the U.S. that they were “somewhat” or “very” familiar with. Each company earned a “RepTrak Pulse” score of 0 to 100, representing an average measure of people’s feelings–or reputation–for a company. The scores were statistically derived from four emotional indicators: trust, esteem, admiration, and good feeling. Reputation Institute then analyzed what it calls the seven dimensions of corporate reputation. That’s where it found that perceptions of the enterprise (workplace, governance, citizenship, financial performance and leadership) trumped product perceptions (products and services plus innovation) in driving behaviors....
It's been a while since the Anthony Weiner and John Edwards scandals dominated the headlines. What can they do to get their reputations back? Congressman Anthony Weiner (D-NY) resigned last June after tweeting lewd photos of himself to various women he met on the Internet.
Senator John Edwards (D-NC) ran for president in 2008 while cheating on his cancer-stricken wife. His affair resulted in a child with his mistress.
Both men experienced the red-hot media spotlight to an extreme that few public figures ever have to endure. They both handled their scandals differently – and as a result, one man might be headed for public redemption while the other one may live out his days as a pariah....
Though banned in China, paying for positive news coverage is so widespread that many publications and broadcasters have rate cards listing prices. SHANGHAI — China is notorious for censoring politically delicate news coverage. But it is more than willing to let flattering news about Western and Asian businesses appear in print and broadcast media — if the price is right.... And while Western companies and many Chinese journalists are loath to discuss the subject, public relations and advertising firms are sometimes surprisingly candid about their roles as brokers in buying flattering coverage, referred to here as “soft news” or “paid news.”...
The science against BPA isn’t very convincing, yet the left-wing onslaught from environmental groups, activist scientists and the media has convinced many consumers that soup cans, soda bottles and plastic storage containers are going to make them sick. In the case of BPA, perception and reality are far different, but false perceptions can still cost businesses millions -- or put them out of business altogether. The infamous Alar scare cost apple farmers $100 million according to a 1989 Associated Press report. Even growers who weren’t using Alar were devastated. By March 31, 2012, the FDA will announce a decision on the use of BPA in food and beverage packaging. As in the case of Alar, such perceptions have even prompted government agencies to regulate or ban chemicals that served a useful purpose. That could happen again at the end of March, the deadline for the Food and Drug Administration to respond to the left-wing group NRDC’s petition to ban bisphenol A from food and drink packaging.... [Interesting to see how business interests attack activists - JD]
The Arthur W. Page Society today introduced “Building Belief: A New Model for Activating Corporate Character and Authentic Advocacy,” a corporate comms model that builds upon the organization’s 2007 “Authentic Enterprise” report. Back then, the group described the new comms landscape. This new model offers a framework for managing it....
I recently asked a practitioner his thoughts on PR as reputation management. I was rather surprised when he told me that because reputation is something he takes incredibly seriously, he has before now turned away potential clients due to bad press they may have had.
It probably sounds peculiar that I was quite shocked by this, but I’d never really thought of the boot being on the other foot with all the negative connotations surrounding public relations as a profession. It got me thinking....
The New York Times' Gene Marks asks Christopher Carfi three good PR questions: Q: Do you think negative advertising is effective? Q: One often hears, “Any P.R. is good P.R.” Do you agree? Q: What do you recommend for a small business that gets “bad” P.R.?
The firestorm that erupted over Susan G. Komen’s break with Planned Parenthood raises serious questions about how well prepared the organization was for the repercussions of their decision to discontinue funding of Planned Parenthood’s breast cancer programs. Whether you believe their action to be right or wrong, there are plenty of public relation lessons to be learned from Komen’s handling of their decision to split with this long-time partner....
I was asked where all the celebrity CEOs had gone which made me recall my first book on CEO reputation. The book was released at the height of the dot com boom when 22 year old CEOs were the norm and celebrity CEOs were plentiful. In my book, I tried to make the point that it was not CEO celebrity that mattered but CEO credibility. As I was answering this question, I realized that I hit on some of the right notes as to why CEO celebrity was not the same today but missed a few. In fact, I mentioned that being CEO today was not an easy job whatsoever. CEOs are much more embattled. Here are some of the reasons I talked about yesterday but others as well taken from an Economist article I was saving to post about....
When it comes to your personal brand, normal isn't good enough. We list three strategies to help you change that mindset and stand out effectively! ...Being average, playing it safe or blending in with the crowd is no way to define your personal brand. Rather, normal is not enough. Effective brands take risks, stand out effectively and put in the hard work....
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It was as distasteful as anything that has marred the commercial aviation industry in recent memory. Despite bullish post-crisis numbers, Spirit is thus playing with fire on at least two interrelated scores. First, it is ignoring the fact that cash-strapped people make buying choices during hard times that they will gladly not make once the economy improves. Second, by squandering its brand equity – in essence, hoisting a middle finger in the general direction of its paying customers – Spirit has created a situation that future competitors can exploit. Now is the time when the company should instead be making Herculean efforts to cement the loyalty, and to anticipate the future needs of its core buyers....
Becoming an industry thought leader is a critical legitimization tool for your business. Industry thought leaders build trust and loyalty. ...Think about it- when was the last time you made a really important or expensive purchase? What drove your decision to go with product X or service Y? I’d be willing to bet that it was influenced by an interaction (doesn’t have to be in the flesh) you had with a person who had earned your confidence on some level. It’s human nature, after all. Nobody likes to look stupid, especially when making decisions that matter the most. Here are 15 tips to help you gain similar influence as a thought leader in your industry...
A phony Bank of America press release was carried by Dow Jones Newswires for more than an hour on Aug. 18 before the wire realized the error and removed it. The release purported to be a call for help from the high-profile bank acknowledging financial pitfalls and referring to a website, yourbofa.com, which carries a letter from CO Brian Moynihan expressing the inevitability that taxpayers will eventually own the company.... [Sloppy editorial oversight & no fact-checking by Dow Jones & a brilliant spoof website]
...So said a Groupon exec in response to a Financial Times reporter asking about accounting irregularities that have plagued the recently IPO’ed tech startup.
I’m not sure whether to laugh or cringe in embarrassment at this bizarrely amateur statement. Worse is that it was made to The Financial Times, a newspaper read by investors and business executives. The very people Groupon can least afford to offend by its confusing messaging....
It’s called the Twilight of the Gods. When on Monday Avon Products Inc. rejected a $10 billion buyout offer from Coty Inc., it was more than just the latest hot news from the Street. ...The marketplace is defined by brands. Avon has a strong one. The marketplace is global. So is Avon. The marketplace demands loyal customers. Avon – self-defined as “the company for women” – knows who they are. But the marketplace also demands leaders and Avon needs one. As it searches the pool of potential CEOs, the company should pay very close attention to candidates who can powerfully articulate the value of Avon’s past and how that equity will yield critical returns in the future. It’s a job requirement....
When it comes to determining the primary audience for sustainability reports, is it investors, customers or another stakeholder group? A recent study by Ernst & Young and GreenBiz.com found employees to be the second most important audience for sustainability reports. That’s not surprising when you consider that the study also found employees to be second only to customers as drivers of sustainability initiatives. But consider this: the 2012 Edelman Trust Barometer found that company communications are distrusted by workers at all levels. Only 29% of executives and 21% of employees trust such communication. That’s a wake-up call to leaders and communicators for less spin and more candid, meaningful narrative....
Nearly two weeks after Goldman Sachs executive Greg Smith excoriated the firm in his already fabled resignation letter published in The New York Times, news analysts are now asking a fundamentally important question: from a business standpoint, to what extent should Goldman Sachs really need to be concerned? What actual damage is done by this reputational crisis, which included allegations that clients are habitually referred to as “muppets?”...
You may think that your personal social networks should serve as a safe haven from your employer where anything goes, but that line of thinking will ultimately lead to trouble. If you post disparaging remarks about your boss on your Facebook page, he or she finds out and you are suddenly faced with repercussions, there is no one to blame but yourself. I know, I know, it's your PERSONAL Facebook page, right? And they have no right to judge you on what you post and are way out of line for actually calling you on it or taking any kind of action, right? WRONG!...
Guess what iconographic villain of greed and wretched excess may be seeing the light of day as soon as this August? None other than Prisoner 05A4820 himself! What's that, the number doesn’t ring a bell? Then, try this on for size: Dennis Kozlowski, or ‘Koz’ as his fellow inmates call him, may soon be reentering mainstream society. Next to Ken Lay and Jeff Skilling (a.k.a. the Hitler & Goebbels of corporate greed), Dennis Kozlowski was the poster child for living large and milking a company dry. To refresh your memory, Kozlowski was convicted in 2005 of grand larceny, conspiracy and fraud for, as The New York Times put it, ‘…essentially using Tyco as his own piggy bank, replete with outsized bonuses.’ Koz was the guy who reigned supreme from a palatial, 13-room palace at 980 Fifth Avenue that featured a $6,000 shower curtain, a $15,000 umbrella stand and the occasional Monet or Renoir painting. He’s also the dude who feted his wife to a truly bacchanalian, Roman orgy-type of birthday party on a Greek Island (all at company expense, thank you very much).... Assuming this real life Gordon Gekko of greed does see the light of day, how would you help him rehabilitate his tattered image?...
The reputations of Bank of America, Berkshire Hathaway, Wells Fargo, JPMorgan Chase and Goldman Sachs all fell significantly in this year's Harris Interactive survey,... More than three years after the financial crisis, Wall Street banks are still in the doghouse. In a survey intended to track the reputations of leading companies, only 17 percent of respondents had a positive impression of the financial services industry, according to Harris Interactive, a consulting firm. That is lower than the 22 percent of survey participants who had a favorable opinion of the industry last year. Wall Street ranks third from last in popularity among all industries surveyed, above only tobacco and government.... [What do? - JD]
Research: Corporate Reputations Suffering from Lack of Citizenship Efforts... The Index is based on a point system that evaluates companies and corporations based on performance and citizenship. A big difference in the scores in these two categories show that reputation is suffering from a lack of citizenship and, therefore, trustworthiness....
From Andy Sernovitz's Damn, I Wish I'd Thought of That!: An example from Casio to remind us how important it is to protect the trust of our customers. Did you ever wonder why so many consumers hate businesses? Often it’s because businesses take advantage of the relationships we have with them....
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