By John Foley
Businesses often imagine if their revenues are solid, then their model and popularity has to be powerful. yet all too frequently, they do not have a transparent knowing of the values that force model and popularity and truly maintain long term profitability and progress. This leaves businesses liable to harmful backlash among company values, and people in their stakeholders: clients, staff, shareholders, media, executive, and group. Even famous and doubtless profitable manufacturers and reputations have suffered from this backlash (e.g. Nike and in a foreign country sweatshops, Wal-Mart and unfair employment practices, McDonald's and weight problems issues.) each stakeholder applies their own values to pass judgement on the functionality of a firm. Branding specialist John Foley has built the BalancedBrand approach, which is helping businesses examine company values, establish capability flashpoints, and align values to construct a much better model and attractiveness. BalancedBrand identifies and is helping deal with the forces that might swap the way in which enterprise does company. Foley and co-author Julie Kendrick have created new instruments that construct and safeguard manufacturers and reputations.
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Additional resources for Balanced Brand: How to Balance the Stakeholder Forces That Can Make Or Break Your Business
The fact is, you can’t afford not to. Your stakeholders will notice, for better or worse. What’s Your $640 Toilet Seat Story? Every business has a “$640 Toilet Seat” story, a reference to the famous Pentagon overspending scandal of the 1980s. qxd 28 12/6/05 12:15 PM Page 28 Balanced Brand the procurement pros at the Pentagon might have done well to ask vendors to sharpen their pencils on that toilet seat invoice. But many times, there are all sorts of reasons for any unusual line item or cost, and many possible explanations.
Microsoft’s predatory. Volvos are safe. Are these statements true? Our willingness to accept them is based on the source of the information. We are much more likely to believe what we read or hear from someone we trust. In our judicial system, you are innocent until proven guilty, but in the media, you are guilty until proven innocent. That’s why it’s important for your company to build strong and trusting relationships with the media. If the first time you ever talk to the media is when you’re in trouble, you’re in trouble.
Perceptions of McDonald’s, Microsoft, and The Coca-Cola Company, for instance, vary considerably across countries. qxd 12/6/05 12:15 PM Page 25 Measuring Brand and Reputation 25 RepTrack®: The Reputation Institute’s Reputation Measurement Model ETHICS PRODUCTS & SERVICES CITIZENSHIP WORKPLACE REPUTATION PERFORMANCE LEADERSHIP INNOVATION © Reputation Institute importance of carrying out customized analyses of reputation that examine not only the specific circumstances companies face in local markets, but dwell on the reasons why publics rate companies differently.
Balanced Brand: How to Balance the Stakeholder Forces That Can Make Or Break Your Business by John Foley