Reputation and Reputational Risk

“Choose a good reputation over great riches, being held in high esteem is better than silver” Pro 22.1

A good name is simply someone else’s perception of who you are. When your name resembles someone who is honorable, trustworthy and dependable, you earn yourself respect plus strong and true relationships. For a company, it then becomes easy to penetrate new markets, retain key relationships with suppliers, customers, investors, the press, regulators and the society at large.

No-one creates a good name for another, even marketing commercials can only try, It therefore is of paramount importance to note that each person is responsible for creating their own ‘name’ through their consistent actions, habits and character, likewise every organization’s reputation is in the hands of each employee and all those who act on behalf of the organization, that is why the attitude and behavior of every employee at any level is very important in assuring the continuity of any organization.

It is undeniable that perception is subjective, it cannot be controlled and that all stakeholders will always think in whatever way they chose about you, but is you who gives them the story to talk about, that is why we strive to give all our stakeholders the right story to talk about through our attitude, behavior and actions. When that happens effectively a company does not even need commercials. When that happens effectively customers, suppliers, governments, the community… vital relationships are all drawn to you.

We value the perception of all stakeholders including the community at large, It is by and through all the stakeholders that the organization derives wealth.

The next time that you represent yourself be conscious of the fact that you create your own name, similarly, the next time you represent your organization, be conscious of the fact that you have the power to either create an esteemed name of your company or otherwise.