Focus on transparency, consistency Key to corporate India's progress
NT Bureau
Chennai, Mar 14:
India Inc has the potential for enormous growth in the coming few decades provided it comes out with an efficient reputation management solution, Dr Charles J
Fombrun, executive director and founder of the Reputation Institute, New York, has said.
The corporate India, which possesses high marks in visibility and distinctiveness has to improve in its transparency and consistency
segments, the guru ofreputation management said participating in the Reputation Matters talk series organised here yesterday by imagequity+.
It is hard to decipher the transperancy level of Indian companies and the anarchy of communications mars consistency, he said.
India can achieve far more good results by building up its reputation and, he said, reputation management was all about achieving consistency between three
questions viz who you are?, what you say? and what you do?
With the branding model on the decline, world over the way management was handled was in for a change.
Sighting examples of Worldcom and Enron illustrating the poor performance of todays management, he said All are going to
change, the way we operate business and the way we manage it...Milton Friedmans definition the only business of business is to make profit, looks outdated.
Theses acts of deception has destroyed peoples trust thereby propping up reputation, which is the perception and feeling of all
stakeholders towards the company, as the key driver of value.
He said reputation as a revolutional approach to strategic positioning and competitive advantage, comes from six roots
with emotional appeal, vision and leadership, financial performance, workplace environment, social responsibility and products and services.