Building and protecting corporate reputation
Purpose ‐ A risk to reputation is a threat to the survival of the business, but senior executives seldom focus on it. Design/methodology/approach ‐ The reputational collapses in four cases (Merck, Marsh, Anderson and Monsanto) share a single striking feature: they were not limited to a small group of corporate manipulators. Findings ‐ The cases demonstrate enterprise involvement in misconduct and failure of leadership. Practical implications ‐ The author proposes three steps leaders can take to alter the corporate mindset and prepare the organization to deal effectively with reputational crisis. Originality/value ‐ The three steps, and the examples of organizations that have taken preemptive action to secure their reputation, provide an excellent guide for leaders.
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