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Fame and Fortune: How Successful Companies Build Winning Reputations

Overview

Companies with strong reputations are better able to attract customers, investors, and quality employees-and to survive crises that would destroy weaker firms. Fame and Fortune shows how to quantitatively measure your company's reputation, estimate its business value, and systematically enhance it over both the short- and long-term.

First, you'll learn how to benchmark your firm's reputation against key rivals in six key areas, ranging from product quality to emotional appeal. ...

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Overview

Companies with strong reputations are better able to attract customers, investors, and quality employees-and to survive crises that would destroy weaker firms. Fame and Fortune shows how to quantitatively measure your company's reputation, estimate its business value, and systematically enhance it over both the short- and long-term.

First, you'll learn how to benchmark your firm's reputation against key rivals in six key areas, ranging from product quality to emotional appeal. Next, you'll discover that the winners of global reputation surveys get to the top by following a set of core principles through which they build visibility, distinctiveness, consistency, authenticity, and transparency.

Then, starting from where you are now, you'll learn how to implement genuine corporate initiatives that strengthen two-way dialogue with all your stakeholders, and build the "reputational capital" you will need to succeed-and thrive.

  • Why reputations matter: the proof, in cold, hard cash. Quantifying the "unquantifiable": the value of your corporate image.
  • The reputation audit: discovering where you stand. Six key measures of your corporate reputation.
  • Using the "Reputation Value Cycle" to your advantage. Creating a "virtuous circle" in which reputation enhances business corporate value.
  • Making it real: the elements of trustworthiness. Building and communicating authenticity, consistency, and transparency.
  • Standing apart from the crowd. Improving your visibility and your distinctiveness.
  • How FedEx did it: lessons for your organization. Reputational best practices from a company built on trust.

Create quantifiable business value by building your company's reputation.

  • The definitive business reputation guide for every corporate officer, strategist, corporate communicator, and marketing professional
  • How to audit your reputation-and benchmark your competitor
  • An integrated approach that cuts across communications, strategy, marketing, and organization
  • Techniques for strengthening your reputation with investors, customers, partners, regulators, citizens, and employees
  • Includes detailed tools from the Reputation Institute's own StellarRep(r) model, the world's #1 reputation management toolkit

Companies with great reputations do better on virtually every business metric. Now, you have unprecedented access to a roadmap for building the kind of reputation you need and deserve.

Drawing on unsurpassed experience and the field's best research, two leading experts illuminate reputation management for executives, business communicators, marketers, and strategists alike.

You'll first review the powerful business case for actively managing your reputation. Next, you'll realistically assess where you stand in areas ranging from product quality to financial strength, vision to social responsibility... discovering how to make the most of your strengths as you overcome your weaknesses. The authors show that to improve reputation, you have to improve visibility, distinctiveness, authenticity, transparency, and consistency throughout the enterprise-not just in traditional silos like PR, advertising, or IR!

Want the powerful business value that arises from a world-class reputation? One book will show you how to get it: Fame and Fortune.

"A strong reputation is an enduring source of competitive advantage. In Fame and Fortune, Fombrun and van Riel show how successful companies mobilize the support of employees, consumers, and investors to strengthen their reputational capital. An excellent read!"
–Frederick W. Smith, Chairman, President & CEO, FedEx Corp.

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Product Details

  • ISBN-13: 9780137144419
  • Publisher: FT Press
  • Publication date: 4/4/2008
  • Pages: 304
  • Product dimensions: 6.20 (w) x 8.90 (h) x 0.70 (d)

Meet the Author

Charles J. Fombrun is Professor Emeritus of Management at the Stern School of Business, New York University; and Executive Director of the Reputation Institute, a private research group devoted to researching, measuring, and valuing corporate reputations. A frequent conference speaker, he has designed and taught executive programs at Columbia University, The Wharton School, and NYU, and he consults with companies worldwide on issues of reputation management and organizational change. He is co-founder of the Corporate Reputation Review. Dr. Fombrun has written over 100 articles in leading journals, and his books include Leading Corporate Change, Reputation: Realizing Value from the Corporate Image, Strategic Human Resource Management, and The Advice Business: Essential Tools and Models for Management Consulting.

Cees B.M. van Riel, Professor of Corporate Communications at the Rotterdam School of Management of Erasmus University Rotterdam in The Netherlands, has written numerous articles about corporate identity and branding, and is the author of three previous books: Handbook of Corporate Communication, Identity and Images, and Principles of Corporate Communications. He is currently editor-in-chief of Corporate Reputation Review, Managing Director of the Reputation Institute, and Founding Director of the International Masters Program in Corporate Communications, a joint venture among five leading European business schools. He is also a member of the Branding Steering Committee of ING Group.

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Table of Contents

(NOTE: Each chapter concludes with Endnotes.)

Acknowledgments.

Introduction.

1. Why Reputations Matter.

Why Do Reputations Matter? Reputations Create Differentiation and Competitive Advantage. Can You Prove that Reputations Matter?

2. What Are Reputations Worth?

Reputation Affects a Company's Operating Performance. Reputation Creates Financial Value That Builds Reputation. Reputation has Financial Value as a Corporate Asset.

3. Who's Tops–and Who's Not?

The World's Most Visible Companies. The Reputation Quotient. Methodological Appendix to Chapter 3.

4. From Fame to Fortune.

Fame Breeds Fortune. What Drives Market Value? Are High RQ Portfolios a Sound Investment? The Bottom Line?

5. The Roots of Fame.

Principle 1: Be Visible. Principle 2: Be Distinctive. Principle 3: Be Authentic. Principle 4: Be Transparent. Principle 5: Be Consistent. So, Express Yourself.

6. Be Visible.

Understanding Corporate Visibility. When Should Companies Worry about Negative Visibility? The Drivers of Visibility. Capitalizing on Visibility. The Bottom Line?

7. Be Distinctive.

What are Reputation Platforms? What Makes a Strong Reputation Platform? So, Distinguish Yourself.

8. Be Authentic.

The Process of Discovery. The Process of Internal Expression. The Process of External Expression. The Challenge of Authenticity.

9. Be Transparent.

Degrees of Transparency. The Drivers of Transparency. Platforms for Corporate Transparency. The Citizenship Transparency Index. Conclusion.

10. Be Consistent.

Step 1: Establish a Dialogue with Stakeholders. Step 2: Enforce a Shared Identity. Step 3: Implement an Integrated Communication System. Step 4: Coach Employees and Partners. Step 5: Adopt a Measurement and Tracking Scorecard. Consistency: Top Down and All Around.

11. Becoming a Top Company: The Case of FedEx.

Introducing Radical Change. The Role of FedEx Communications.

Index.

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