Building and protecting corporate reputation

Abstract

Purpose

A risk to reputation is a threat to the survival of the business, but senior executives seldom focus on it.

Design/methodology/approach

The reputational collapses in four cases (Merck, Marsh, Anderson and Monsanto) share a single striking feature: they were not limited to a small group of corporate manipulators.

Findings

The cases demonstrate enterprise involvement in misconduct and failure of leadership.

Practical implications

The author proposes three steps leaders can take to alter the corporate mindset and prepare the organization to deal effectively with reputational crisis.

Originality/value

The three steps, and the examples of organizations that have taken preemptive action to secure their reputation, provide an excellent guide for leaders.

Citation

Firestein, P.J. (2006), "Building and protecting corporate reputation", Strategy & Leadership, Vol. 34 No. 4, pp. 25-31. https://doi.org/10.1108/10878570610676864