An organization reputation is its greatest asset and risk in today’s knowledge economy.

This reputation is derived from the way stakeholders perceive the organization, how they think, feel or act towards it. It is therefore vital that organizations interested in developing and building their reputational capital; pay careful attention to how they are perceived and; that they manage the relationships with their various stakeholders like a strategic resource.

Stakeholders offer organizations both opportunity and threat. For instance if an institution has a good reputation with stakeholders they may give the organization more latitude to operate. On the other hand a poor reputation with the regulators may result in laws being passed that can make it more difficult for an institution to operate.

What international research have shown is that there is a lot that organizations can do to positively influence the process of creating good images in stakeholders minds. Building positive and lasting relationships should be a key organizational function and strategy. The management of and interaction with stakeholders therefore needs careful attention if an organization wants to maximize its opportunities and minimize threats in dealing with stakeholders.

I work with clients to establish ways and means to better engage and communicate with stakeholders and establish working and lasting relationships. Services range from coaching executives how to deal with stakeholders to gap analysis and the facilitation of workshops to raise understanding of stakeholder management.

Specifically services include:

• Guidance and training on how to establish and maintain positive, mutually beneficial stakeholder relations;
• Best practice advice and training on how to develop and implement stakeholder reputation management engagement & communications plans;
• Stakeholder Profiling & Research advice & assistance on how to develop appropriate Stakeholder Management strategies based on relevance and prioritisation;
• Stakeholder Mapping and Identification of touch points;
• Guidance on how to embed Stakeholder & Reputation Management thinking in the culture of an organisation;
• Advice on how to use engagement, relationship building tactics and communication methods and tools to build and maintain a favourable reputation with stakeholders and comply with the King 3 Code of Corporate Governance*;
• Specific advice and training on ways to enhance relationships with various stakeholders – targeting the media, employees, customers, suppliers, government and activists.

“Any organization that values its good name, integrity and trust in it by their stakeholders must remain aware and up to date of who their stakeholders are, and their changing needs and preferences ´ said Deon Binneman.

For more information on the typical questions that leaders should be asking about stakeholder & reputation management processes in their organisations, read my blog post – http://bit.ly/eybsKa

* The King 3 Code on Corporate Governance

The King 3 Code on Corporate Governance makes specific mention of stakeholder inclusivity (i.e. that the legitimate interests and expectations of stakeholders are considered when deciding in the best interests of the company), stakeholder identification and determination of expectations and needs, the proactive management of stakeholder relationships, and that management should develop a strategy and formulate policies for the management of relationships with each stakeholder grouping. I provide essential services and training in this regard.