8
Wise Choices for Business
Rebuilding for Better Days Ahead
Sound Practices to Enhance Reputation and
Give Your Business New Life
By Elise Mitchell | Mitchell Communications Group, Inc., Fayetteville
As we all know now, the gathering character is
storm in the financial industry arrived with expressed by
a vengeance, toppling legendary compa- its people
nies that many of us would never have
6. Conduct public
imagined could go down. Their inability to
relations as if the whole company
properly assess the risks they were tak-
depends on it
ing, and make necessary changes to fix
7. Remain calm, patient, and good-
their problems, are fundamental reasons
humored, especially in times of crisis
for their failures.
The ripple effect? Loss
Seventy years later,
of businesses, loss of
jobs, loss of trust and con-
“
Let’s face it – the
these principles still ring
true. They inspire me to
fidence, and ultimately,
world is a different consider how companies
loss of reputation.
place. Much like
can apply their timeless
truths to today’s turmoil.
Fortunately, many com-
panies are reflecting on
when the dot.com
Here are a few things lead-
ers at any level can put
opportunities to improve
bubble burst, there into practice as they work
their business model, and
working harder at shoring is a significant lack
to build stronger business-
es for better days ahead:
up critical relationships
with stakeholders to en-
of trust among Communicate More
sure their doors are open
stakeholders.
tomorrow. The continued
”
Times likes these require
more communication to let
erosion of public trust in employees and vendors
the business community know what management
is of particular concern, but it has forced is doing about the situation. What’s the
us to recognize the value of being well game plan, what goals can everyone work
regarded, especially at a time when together to accomplish? These things can
business is under such scrutiny. The draw people to your side and help you
good news is the reputation battle is not work more effectively.
necessarily a losing proposition at a time
Do what you say you’ll do
like this.
Consumer trust in business has waned
It is, in fact, a pretty easy game to win.
considerably in the wake of the 2008
Fundamentally, reputation is won or lost
financial industry meltdown. As a result,
based on what you do, not what you say.
companies must ensure they deliver
As early as the 1930s, Arthur Page, the
on their promises – whether those be
father of corporate public relations, laid
product, brand or reputation-based. Make
down seven simple but powerful princi-
sure you can live up to a claim or expect
ples to define what proper organizational
a more severe backlash than you might
behavior should look like:
have experienced in the past.
1. Tell the truth
2. Prove it with action
Understand the need for
3. Listen to the customer
transparency
4. Manage for tomorrow
Customers, regulatory agencies and
media are demanding more transparency
5. Realize that a company’ s true
from companies to demonstrate sound
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