MANAGING CORPORATE REPUTATIONS

Corporate reputation has never been more important - nor more fickle.

Goodwill and a strong name that have taken years to establish can now be lost in an instant (witness BA, M&S and Coca Cola).

For those that manage their reputation more successfully, the rewards are high.

Intangibles account for a high proportion of any company's value.

Research from the US establishes the direct link between a good reputation and the share price.

In a world of free flows of trade and information, churning out financial figures is no longer enough.

There are many more audicnces with rising expectations with whom companies must communicate: employees, customers, suppliers, pressure groups, regulators and communities.

Nor can each class of these stakeholders be dealt with separately.

Any lack of consistency or integrity will be sharply exposed.

Creating, maintaining and protecting reputation is becoming a central business discipline - and not just in blue chips in the old economy.