Law Ten: Make Your Employees Your Reputation Champions Employees are first direct contact between a corporation and its customers. Naturally, employee behavior has a large impact on company’s reputation both on and off job, from how they service customer to how they talk about corporation with friends, relatives, etc.

Law Eleven: Control Internet Before It Controls You The World Wide Web is an extraordinary tool and can be a boon or bane to your reputation. The World Wide Web has no regulatory body to separate truth from lies. It is estimated over 730 million people are able to interact with each other – by 2006 it could be over 1 billion.

Surprisingly, a survey by Hill & Knowlton and Chief Executive Magazine found 16% of companies monitor Internet closely, 39% check it periodically, and 43% don’t bother.

Law Twelve: Speak with a Single Voice Corporations allocate major funding towards building their brand. As a corporation grows and diversifies its products, there is a tendency to stray from corporate brand. The result of this is weakening of corporate brand and weakening of their reputation. A startling example comes from IBM, which in 1993 had more than 800 different logos!

Law Thirteen: Beware Dangers of Reputation Rub-off There is a saying that goes, “Birds of same feather flock together.” When two or more corporations enter into a partnership or work together; their reputations may be attributed to each other. Sometimes this is desirable and is intentional. It is important to keep in mind intention doesn’t necessarily translate to desired effect.

Law Fourteen: Manage Crises with Finesse No one and no corporation is immune from crises. Crises can be in due to corporate transgressions, natural calamities, malicious intent, a private remark taken out of context, etc. The most critical period to reputation damage control happens in first few days. It is tendency of companies to go quiet. This is a mistake because critics will quickly use time to give their worst-case scenario and put out a negative spin. The corporation should quickly gather all facts then make a public statement. The first statements must be swift and sure. A mistake at this time will taint all other succeeding statements. Customers and/or public need to be assured right and responsible action is being taken.

Law Fifteen: Fix It Right First Time There are many ways a company can try to fix its reputation. Some companies may try put on a fresh image by reinventing themselves with a refocused vision or business restructuring. Other companies will try reworking an old formula. Others still will be working against their successful, dated reputation that actually holds them back from making a more contemporary image. But it is not enough to want change. The leader is key. The leader has to be dynamic and focused to guide company along new way and against old habits or instincts. Law Sixteen: Never Underestimate Public’s Cynicism People have become more wary of companies. Claims and statements are normally met with skepticism. Debacles like Enron have worsened loss of confidence Better communications is key to improving relationships. One company’s standard “no comment” response affirmed public’s belief of their guilt. A better relationship could mean winning concessions for company’s interests with favorable legislature or more community support.

Law Seventeen: Remember – Being Defensive Is Offensive People appreciate forthrightness and contrition. Being defensive is more likely to offend them. The public needs to hear an apology and needs to know what is being done to end crisis. Often best way to diffuse a crisis is with a timely and sincere apology. Law Eighteen: If All Else Fails, Change Your Name Sometimes best way to get rid of a bad reputation is to build a new one with a new name. But name changes shouldn’t be entered into lightly. The large expense aside, a name change is confusing and causes loss of brand equity. You could lose all good, and you’re not guaranteed to be free of bad. At very least, a new name opens possibility of people willing to hear a new message.

By: Regine P. Azurin and Yvette Pantilla http://www.bizsum.com "A Lot Of Great Books....Too Little Time To Read" Free Book Summaries Of Latest Bestsellers for Busy Executives and Entrepreneurs

Mailto: mailto:freearticle@bizsum.com BusinessSummaries is a BusinessSummaries.com service. (c) Copyright 2001- 2005 ,BusinessSummaries.com - Wisdom In A Nutshell

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