Balanced Brand: How to Balance the Stakeholder Forces That by John Foley
By John Foley
Businesses frequently suppose if their revenues are stable, then their model and attractiveness needs to be powerful. yet all too frequently, they do not have a transparent knowing of the values that force model and acceptance and really maintain long term profitability and development. This leaves businesses prone to risky backlash among company values, and people in their stakeholders: shoppers, staff, shareholders, media, govt, and group. Even famous and likely profitable manufacturers and reputations have suffered from this backlash (e.g. Nike and in another country sweatshops, Wal-Mart and unfair employment practices, McDonald's and weight problems issues.) each stakeholder applies their own values to pass judgement on the functionality of a firm. Branding professional John Foley has built the BalancedBrand method, which is helping businesses examine company values, determine power flashpoints, and align values to construct a higher model and acceptance. BalancedBrand identifies and is helping deal with the forces that may swap the way in which company does enterprise. Foley and co-author Julie Kendrick have created new instruments that construct and defend manufacturers and reputations.
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Extra resources for Balanced Brand: How to Balance the Stakeholder Forces That Can Make Or Break Your Business
5 3. 2 3. 8 4. 0 4. 2 5. 0 5. 2 Reputation: Built in a Lifetime, Lost in a Moment Apple’s innovative. Microsoft’s predatory. Volvos are safe. Are these statements true? Our willingness to accept them is based on the source of the information. We are much more likely to believe what we read or hear from someone we trust. In our judicial system, you are innocent until proven guilty, but in the media, you are guilty until proven innocent. That’s why it’s important for your company to build strong and trusting relationships with the media.
What’s Your $640 Toilet Seat Story? Every business has a “$640 Toilet Seat” story, a reference to the famous Pentagon overspending scandal of the 1980s. qxd 28 12/6/05 12:15 PM Page 28 Balanced Brand the procurement pros at the Pentagon might have done well to ask vendors to sharpen their pencils on that toilet seat invoice. But many times, there are all sorts of reasons for any unusual line item or cost, and many possible explanations. Imagine that when you get to work tomorrow, there’s a gang of government auditors waiting for you.
Brand and reputation are not interchangeable. Strong Brand, Strong Reputation The goal of BalancedBrand is to have a strong brand and a strong reputation. qxd 12/6/05 12:15 PM Page 20 In both brand and reputation you’re only as strong as your ability to understand and align with key stakeholders. qxd 12/6/05 12:15 PM Page 21 Measuring Brand and Reputation 21 Measuring Brand Strength There are many ways of determining brand value—everything from building consumer value attitudinal models to determining net present value and future cash flows.