The reputation of a business is essential to its survival. The trust and confidence of the customer or client can have a direct and profound effect on a company’s bottom line.
Remember the recent David and Goliath battle between Frankies soft drink company vs Woolworths? Another all too fresh memory is that of one of KFC’s franchisee’s staff washing chicken on a dirty concrete floor. The importance of reputation has become increasingly apparent with the rise in popularity of review sites like Hellopeter.com.
When was the last time you thought long and hard about your company’s reputation? The odds are that you’ve been forced to think more about your company’s reputation and how it’s affecting everything from your company’s ethics, hiring process, attracting and retention of talented employees, your quality control, reliability, management, leadership and customer focus to your company culture.
In the past, businesses relied on word of mouth of customers, suppliers and their own employees in order to establish, build and maintain their reputations. In this age of social networking, websites, and other methods of instant communication, businesses both big and small must be conscientious of their reputations on a constant basis and be responsive to any crisis that may have an impact on their reputation.
Our strategic alliance partner, Regine le Roux, MD of Reputation Matters shares insightful tips on how to manage business reputation through a crisis in our May 2016 issue of our BAN Bulletin.
Click here to read the full article – Managing your reputation through a crisis