The PRCA launches 'Economics of Reputation' toolkit to aide understanding and stimulate debate
-Beginning of Autumn #ReputationMatters campaign-
The PRCA is launching the first easy-to-use digest of all the leading academic and business insights into the complex issue of reputation.
Sited on the PRCA's newly-relaunched Insight webpages, the 'Economics of Reputation' toolkit provides a single review of all existing significant literature and academic research on reputation. It is aimed at stimulating debate - around the #ReputationMatters hashtag – on the contribution reputation makes to organisations of all types and sizes, while raising the profile of PR in the boardroom.
Managing reputational risk has now become a key priority for many directors of communication and in turn has become a huge issue for the boardroom, as many of the recent economic and financial disasters came about from a lack of trust that negatively impacted reputation. The challenge - as well as opportunity - is how best to manage reputation in such turbulent and unpredictable times.
The toolkit focuses on five fundamental questions:
- What is reputation?
- Why has reputation become a critical issue?
- How is reputation created?
- How does reputation create value?
- How can reputation be measured?
The toolkit includes seven video interviews with respected practitioners in the business and corporate worlds:
- Sue Garrard, Senior Vice-President of Communications and Sustainable Development, Unilever
- Nigel Gilbert, Chief Marketing and Communications Officer, TSB Bank
- Amanda Mackenzie, Chief Marketing and Communications Officer, Aviva
- Zitah McMillan, Director of Communications and International, Financial Conduct Authority
- Sheila Mitchell, Marketing Director, Public Health England
- George Pascoe-Watson, Partner, Portland
- Chris Satterthwaite, Chief Executive, Chime Communications
This forms an integral part of the Economics of Reputation campaign which is being led from within the PRCA's PR Council by Tony Langham, Lansons Chief Executive, and PR Council Vice Chairman. It has been produced by Now in association with BNY Mellon.
Tony Langham said: "The sheer volume of literature on reputation means that developing a clear understanding of reputation has become incredibly problematic. This toolkit has been developed to provide a straightforward way into this hugely complex topic, which is now a leading issue for the business world. We hope that this will provide a basis for thought-provoking debate, which we aim to stimulate over the remainder of the year."
Jamie Brookes, Managing Director, BNY Mellon said: "Understanding the impact and relevance of reputation to the future of an organisation is vital to the success of the communications team. With considerable noise surrounding this much researched topic, this work aims to distil existing research and help further the debate."
To check out the toolkit, please click here.
The Economics of Reputation workstream will follow this launch with further collateral later in the year, including research studies and a series of #ReputationMatters events. There will be a discussion of this collateral at the PRCA National Conference on 26th September, in London.
Who we are: Founded in 1969, the PRCA is the largest PR association in Europe, representing 12,000 people in agencies, in-house communications teams, and individuals. The PRCA promotes all aspects of public relations and internal communications work, helping teams and individuals maximise the value they deliver to clients and organisations.
What we do: The Association exists to raise standards in PR and communications, providing members with industry data, facilitating the sharing of communications best practice and creating networking opportunities.
How we do it and make a difference: All PRCA members are bound by a professional charter and codes of conduct, and benefit from exceptional training. The Association also works for the greater benefit of the industry, sharing best practice and lobbying on the industry's behalf e.g. fighting the NLA's digital licence.
Who we represent: The PRCA represents many of the major consultancies in the UK, and currently has more than 350 agency members from around the world, including the majority of the top 150 UK consultancies. We also represent over 150 in-house communications teams from multinationals, UK charities and leading UK public sector organisations.