A good reputation pays off
Posted: Sun Feb 02, 2025 10:17 am
Reputation was not an issue in the 1950s. It was not until the 1980s - due to increasing globalization and the first mergers and acquisitions - that soft success factors suddenly gained importance. In 1983, Carl Shapiro finally discovered that reputation plays an important role in the purchasing process - when there is no obvious difference in quality or price for products or services. Today, it has long been clear that reputation is the result of constantly ongoing perceptions or direct evaluations. But reputation management is increasingly being wrongly equated with crisis communication. This is despite the fact that preventative care of a good reputation would pay off - clearly demonstrable. Because if managed correctly, a good reputation is an essential part of every company, organization or even personal value, even in terms of the balance sheet, and permanently represents a high percentage of the total capitalization.
In times of globalization and the associated, constantly poland rcs data increasing oversupply of products, we have been undergoing rapid change for years, moving towards a service society. Soft factors - so-called "intangible assets" - are becoming more important. We will soon be living in a kind of reputation age. And that increasingly means that, in addition to successes, mistakes will also become more visible more quickly.
The abundance of information means that people are becoming more immune to advertising, marketing and messages in general. Who we are will soon be more important than what we want to sell. Because people want to know exactly what they are supporting before they buy a product or service. This gives credibility and trust a whole new dimension. Anyone who violates this immediately experiences the increased desire for complaint management. This means that reputational risk in the digitalized world is a constant threat.
If you think of standard abbreviations such as CEO and CFO, then CRO could have different meanings: Chief Risk Officer or Chief Revenue Office are common. In view of the technological impact and the ever-increasing competition, the role of Chief Reputation Officer would also be worth considering. But it is best not to wait until there are impending risks.
In times of globalization and the associated, constantly poland rcs data increasing oversupply of products, we have been undergoing rapid change for years, moving towards a service society. Soft factors - so-called "intangible assets" - are becoming more important. We will soon be living in a kind of reputation age. And that increasingly means that, in addition to successes, mistakes will also become more visible more quickly.
The abundance of information means that people are becoming more immune to advertising, marketing and messages in general. Who we are will soon be more important than what we want to sell. Because people want to know exactly what they are supporting before they buy a product or service. This gives credibility and trust a whole new dimension. Anyone who violates this immediately experiences the increased desire for complaint management. This means that reputational risk in the digitalized world is a constant threat.
If you think of standard abbreviations such as CEO and CFO, then CRO could have different meanings: Chief Risk Officer or Chief Revenue Office are common. In view of the technological impact and the ever-increasing competition, the role of Chief Reputation Officer would also be worth considering. But it is best not to wait until there are impending risks.