Our Visiting Fellows Johannes Huth, Mary Jo Jacobi, David Mansfield and Sara Weller comment on key reputational issues:
Johannes Huth, Managing Director KKR & Co Ltd.
What is the biggest reputational challenge for your industry over the next 12 months?
"The single most important mission for our industry is to demonstrate responsible ownership of the companies in which we have invested."
What is the biggest reputational opportunity for your industry over the next 12 months?
"The biggest reputational opportunities arise each time we demonstrate our commitment and our ability to make a company more competitive and successful."
What is the best way to gauge reputation in your industry?
"Our best advocates are third parties, who have the experience of working with us. These include investors like public pension funds, investment partners like entrepreneurs and corporates, the management of the companies, and wider stakeholders like employee representatives."
What topic in reputation most needs research attention?
"Academic research related to the opinions and experiences of the third parties, working in partnership with private equity, would add a valuable dimension to the public debate around private equity."
Mary Jo Jacobi formerly led reputation management for Royal Dutch Shell, Lehman Brothers and HSBC. She was appointed Assistant US Secretary of Commerce by President George H W Bush and was Special Assistant to President Ronald Reagan.
What is the biggest reputational challenge for your industry over the next 12 months?
"In my work with both government and financial services the challenges are similar: regaining trust and rebuilding confidence. The financial crisis has tarnished both in different ways: financial services is painted as greedy and self-interested, and government is seen as slow to respond and in some ways inadequate. Both must overcome these obstacles by re-engaging with the public on the public's terms."
What is the biggest reputational opportunity for your industry over the next 12 months?
"There's rarely been more interest in both sectors, with the ongoing need for financing and with the spectre of a general election. People are paying attention and that creates opportunities for government and financial leaders to tell their stories, explain their positions and start to restore confidence in their institutions."
What is the best way to gauge reputation in your industry?
"Talking to real people and finding out what they think. Polls are useful but nothing can replace personal engagement with interested and informed parties. People like to share their opinions; they just have to be asked. Sometimes they "vote with their feet" ,but engaged with them before they do so and yield very valuable and important information."
What topic in reputation most needs research attention?
"Handling crises and restoring trust: what can we learn from past crises and recoveries that is relevant to today's environment? What can business learn from the saga of Tiger Woods: if he had responded differently when his personal "crisis" began to unfold, would be be viewed differently today? I think so; it's basic corporate crisis management: front it personally, immediately; explain what you can of your story; ask for time to work through things; promise to communicate more as quickly as you can. There's much to be learned from others' mistakes and from applying the lessons of the past to situations in the future."
David Mansfield, Executive Director, Ingenious Media PLC; Non Executive Director, Carphone Warehouse PLC.
What is the biggest reputational challenge for your industry over the next 12 months?
“The reputational challenge for the media/creative industry is how traditional media are seen to respond to rapidly changing consumer behaviour by designing new business models built on profitable revenue growth. Being seen to respond positively to these changes is also the biggest reputational opportunity for the industry.”
What is the best way to gauge reputation in your industry?
“The best way to gauge reputation in the media/creative industry is by a cross section of media commentary.”
What topic in reputation most needs research attention?
“The commercial and social contribution made by the media/creative industries is the reputation topic that most needs research attention. The creative industries are "represented" by the DCMS (Dept for Culture Media & Sport) but do not enjoy a seat at the very top table in government.”
Sara Weller, Managing Director, Argos Retail Group.
What is the biggest reputational challenge for your industry over the next 12 months?
“Reputational challenges are hard to predict - the most dangerous ones come out of the blue when you least expect them. The best way to be prepared is by running your business on solid foundations.”
What is the biggest reputational opportunity for your industry over the next 12 months?
“For us, we are embarking on a major refresh of our brand to bring new perspectives on it to new audiences. This is a great chance to engage our customers and our colleagues in a dialogue about our brand and what it stands for, and so should be a great platform for strengthening our reputation in the next few years.”
What is the best way to gauge reputation in your industry?
“Ours is a customer led business, so their view is what matters. Of the many measures we have, probably customers' view of us as a "brand I'd recommend" is the single closest to a measure of reputation that we track.”
What topic in reputation most needs research attention?
“I would love to understand how customers form reputational impressions today: what is customers' relative dependence on media (e.g. journalism), company messaging (e.g. advertising), other customers (e.g. social media) and personal experience (e.g. brand usage) in forming their views of a company's reputation.”