Warren Buffet summed up the importance of reputation best – “If you lose money for the firm, I will be understanding. If you lose reputation for the firm, I will be ruthless.”
Nothing is more nebulous, yet critical, for a firm than reputation. Not only is a first impression lasting and sometimes irreversible, it can make or break a firm’s reputation. The foundation of every business – a corporate reputation – can take years to establish, but only seconds to destroy. Once destroyed, it may never be repaired; therefore the establishment and maintenance of a stellar corporate reputation should be a company’s top priority.
Reputation Management represents an umbrella practice area we developed at WPA while helping numerous blue-chip companies enhance their marketplace stature. Our unique way of measuring corporate reputation – either stand-alone or as compared to competitors – has helped numerous companies evaluate areas of strength and weakness. WPA then steps in and addresses the weaknesses to effect positive change. The WPA methodology for measuring corporate reputation has been adopted by The Wall Street Journal in its annual rankings of Fortune 500 companies.
WPA’s key quantitative metric, Reputation Index, is designed to first evaluate your firm’s reputation, then develop an action plan to place it above those of competitors in the competitive marketplace.
With WPA’s Reputation Index, your company can determine exactly where it stands, find out what needs to be improved (and sometimes more importantly, what needs to remain unchanged), develop a strategy and actions to implement, and emerge with a lasting positive reputation in the marketplace.