In this increasingly challenging and politicised world, business is more vulnerable than ever.
Misfortunes occur, and a failure of reputation can attract social and political sanctions that affect the bottom line. Poor reputation threatens business legitimacy and commercial freedoms, but credits gained from a sound reputation can help deal with these problems.
In order for a business to protect itself from political vulnerability, it must go a stage further, and gain political credibility by building regulation equity. In other words, it must justify its place at the public policy-making table by tangibly demonstrating its political and societal legitimacy to key external audiences and opinion formers.
Stakeholders affect public opinion. Public opinion affects public policy and this can change very rapidly. Businesses that do not build their regulation equity, or those that lose it, will find themselves excluded from the policy making process and their voice and contribution will not be heard.
So, if you want your business to be truly sustainable, communicating with your stakeholders, managing your reputation and building regulation equity should be core elements of your corporate strategy.
Marland Sykes specialises in external affairs and strategic communications. We can help you adopt the outside-in perspective to your decision-making that you need to satisfy your stakeholders, whilst building your own reputation and regulation equity and reducing risk. We'll also help you tell your story, and target the audiences you need to hear it.
And drawing on our network of associates, we can offer fully scalable solutions to suit the needs of every kind of business.
Misfortunes occur, and a failure of reputation can attract social and political sanctions that affect the bottom line. Poor reputation threatens business legitimacy and commercial freedoms, but credits gained from a sound reputation can help deal with these problems.
In order for a business to protect itself from political vulnerability, it must go a stage further, and gain political credibility by building regulation equity. In other words, it must justify its place at the public policy-making table by tangibly demonstrating its political and societal legitimacy to key external audiences and opinion formers.
Stakeholders affect public opinion. Public opinion affects public policy and this can change very rapidly. Businesses that do not build their regulation equity, or those that lose it, will find themselves excluded from the policy making process and their voice and contribution will not be heard.
So, if you want your business to be truly sustainable, communicating with your stakeholders, managing your reputation and building regulation equity should be core elements of your corporate strategy.
Marland Sykes specialises in external affairs and strategic communications. We can help you adopt the outside-in perspective to your decision-making that you need to satisfy your stakeholders, whilst building your own reputation and regulation equity and reducing risk. We'll also help you tell your story, and target the audiences you need to hear it.
And drawing on our network of associates, we can offer fully scalable solutions to suit the needs of every kind of business.
© Marland Sykes 2011
