The 18th Annual Corporate Reputation Conference on the theme The Reputation Imperative. Managing for Competitive Advantage, has been hosted in Miami by the international consultant the Reputation Institute.
This year’s conference has included a plethora of first-rate speakers, and over three days, in unbeatable surroundings, the latest trends in corporate reputation and business management of this area have been brought to the table. The President of Dircom, Juan Manuel Velasco, shared ideas at a roundtable discussion entitled “Keeping Score around Licence to Operate.”
Talks have focused on three key themes: corporate reputation from the point of view of differentiation, integration and growth. In the framework of integration, Velasco talked about the role of communication in order to maintain licence to operate and explained, for the first time, that the CCO can play a central role: “they need to be capable of transforming a company.” In addition, he commented that “organisations are being managed based on a reality that no longer exists; they need to be managed by issues now rather than by channels and communication methods.”
Most speakers agreed that reputation needs to part of input to define strategy. Companies today need to listen actively to their various stakeholders so that they can define their strategy better. Reputation is not an isolated issue; it is not output that can simply be measured as reputation is now used to create competitive differentiation, attract talent, strike alliances, create strong relations with regulators, improve crisis and post crisis situations, reduce risks or promote the internationalisation of companies. In this scenario, there is clearly an urgent need to manage corporate reputation.
Moreover, delegates at the conference also reached the conclusion that understanding what reputation is about is essential, as is the need to measure and demonstrate the return it delivers. It also critical to manage reputational risks as part of an organisation’s strategy in order to build strong brands with solid reputations that serve as a competitive advantage in the global markets. As the speakers summed up, building a strong reputation is crucial in order for organisations to create value in the long term.
The Reputation Institute has announced that the conference will be hosted in Dubai next year.