By Kevin T. Jackson
This sensible consultant unearths uncomplicated ideas of integrity and equity with which organizations can construct a permanent popularity. the writer outlines some great benefits of an exceptional attractiveness, describes the important function the firm's chief needs to play, and masses extra.
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Extra info for Building Reputational Capital: Strategies for Integrity and Fair Play That Improve the Bottom Line
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He asked the man for a cooking pot and started building a small fire. As the water started to boil, a passing villager stopped and asked him what he was doing. "I'm making stone soup," the traveler replied. " The curious villager agreed. "First, we must add a special stone," said the traveler. " He reached into his knapsack and carefully unwrapped a special stone he'd been carrying with him for many years. Then he put it in the simmering pot. Soon people from the village heard about this strange man who was making soup from a stone.
Each stakeholder has a different relation to the firm. But each constituency matters to the firm's operation, so its interests must be taken into account by managers. Analysis: A firm's reputation is not just a single reputation but rather the result of many assessments linked to many relationships between the firm and its constituencies (stakeholders). The firm should attempt to satisfy the interests of all those who have a stake in the firm, since those constituencies together contribute to the bulk of the firm's wealth, which is its intangible reputational capital.