A good reputation is often a hard-won asset, and always worth protecting. A poor reputation threatens your business legitimacy and commercial freedoms.
If you want to build durable stakeholder levels of trust, and thus improve your corporate reputation and standing, you must demonstrate that you are a responsible company that is willing to engage with, listen to and respond to its stakeholders. Effective, values based, systematic communication with key stakeholders is essential for this.
Strategic stakeholder engagement and dialogue also builds mutual respect and co-operation, which can help identify trends and opportunities, as well as exposing risks and vulnerabilities. Marland Sykes helps clients to identify key stakeholders and manage these relationships in a way that can help generate shared value and contribute to business sustainability.
Successfully engaging stakeholders, and building trusted relationships with them, is the first stage of the Marland Sykes policy cycle that will allow you to build reputation equity, develop regulation equity and help deliver increased shareholder value over the long term.
This cycle is illustrated below:
Once you have built up your reputation equity, you will be able to start building up regulation equity; in other words, demonstrating the societal and political legitimacy to justify being part of the debate, and having your voice heard by policy makers and their influencers, rather than being sidelined.
We can support your company at any point on the policy cycle. We can help you with the stakeholder engagement and management processes you might need to start building, or to strengthen, your reputation equity.
Equally, if your company enjoys reputation and/or regulation equity already, we can help you to protect and preserve that position in the years to come. Well defined and targeted stakeholder engagement and management processes will maintain and strengthen your position on the policy cycle. Each subsequent rotation of the cycle will serve to consolidate your equity and help safeguard you against any unwarranted challenges to the long-term sustainability of your business.
If you want to build durable stakeholder levels of trust, and thus improve your corporate reputation and standing, you must demonstrate that you are a responsible company that is willing to engage with, listen to and respond to its stakeholders. Effective, values based, systematic communication with key stakeholders is essential for this.
Strategic stakeholder engagement and dialogue also builds mutual respect and co-operation, which can help identify trends and opportunities, as well as exposing risks and vulnerabilities. Marland Sykes helps clients to identify key stakeholders and manage these relationships in a way that can help generate shared value and contribute to business sustainability.
Successfully engaging stakeholders, and building trusted relationships with them, is the first stage of the Marland Sykes policy cycle that will allow you to build reputation equity, develop regulation equity and help deliver increased shareholder value over the long term.
This cycle is illustrated below:
Once you have built up your reputation equity, you will be able to start building up regulation equity; in other words, demonstrating the societal and political legitimacy to justify being part of the debate, and having your voice heard by policy makers and their influencers, rather than being sidelined.
We can support your company at any point on the policy cycle. We can help you with the stakeholder engagement and management processes you might need to start building, or to strengthen, your reputation equity.
Equally, if your company enjoys reputation and/or regulation equity already, we can help you to protect and preserve that position in the years to come. Well defined and targeted stakeholder engagement and management processes will maintain and strengthen your position on the policy cycle. Each subsequent rotation of the cycle will serve to consolidate your equity and help safeguard you against any unwarranted challenges to the long-term sustainability of your business.
© Marland Sykes 2011
