By John Foley
Businesses frequently think if their revenues are solid, then their model and popularity needs to be robust. yet all too frequently, they do not have a transparent knowing of the values that force model and attractiveness and really maintain long term profitability and development. This leaves businesses at risk of harmful backlash among company values, and people in their stakeholders: clients, staff, shareholders, media, govt, and group. Even recognized and likely 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 an organization. Branding professional John Foley has built the BalancedBrand procedure, which is helping businesses check company values, determine power flashpoints, and align values to construct a much better model and popularity. BalancedBrand identifies and is helping deal with the forces that may switch the best way enterprise does company. Foley and co-author Julie Kendrick have created new instruments that construct and guard manufacturers and reputations.
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Extra info for Balanced Brand: How to Balance the Stakeholder Forces That Can Make Or Break Your Business
Qxd 12/6/05 12:14 PM Page 11 Strong Brand, Strong Reputation 11 Strong Brand, Strong Reputation The Famous Blue Box BRAND STRENGTH The most enviable position is to have a strong brand and a strong reputation, although few Strong Strong companies have been able to Brand, Brand, Weak Strong hold that position over the Reputation Reputation long term. Tiffany & Co. is one of the exceptions. Tiffany & Weak Weak Brand, Brand, Co. has been making heirlooms Strong Weak since 1837. With more than Reputation Reputation 7,000 employees and 100 stores REPUTATION STRENGTH worldwide, Tiffany & Co.
Once the media jumps in, the company may be fighting to preserve its reputation and sometimes its survival. On the other hand, companies who are in balance with their stakeholders have a tremendous advantage over the competition in the marketplace. In upcoming chapters, we further explore how stakeholders go about assigning values, and, even more important, how you can start to monitor the values that directly control your brand and reputation building. Aligning Corporate and Stakeholder Values: Balanced Culture, Balanced Conversation Balanced Culture Without employee buy-in, your new initiative may become just another expensive advertising and public relations program with diminished results.
Firestone and Ford have ended their 100-year partnership, and redemption, in the eyes of many former customers, is very far away. Redemption is much easier for rogue countries or religious scandals because they have time on their side. These institutions typically are around for many generations. Given enough time, redemption may be as simple as the institution outlasting the detractors. Most consumer brands could not survive one year, much less the three to five years it would take to begin rebuilding trust.
Balanced Brand: How to Balance the Stakeholder Forces That Can Make Or Break Your Business by John Foley