Unique Media-Centric Perspective on Managing Reputation Risk
NEW YORK, Sep. 09 2009 CSRwire
Corporations big and small are battling the worst business downturn since the Great Depression. Regulators and governments are scrutinizing companies like never before. Consumers are more cynical and distrustful about business motives.
Couple that with a voracious 24 hour news cycle, the explosion of a viral, social media where a single customer or news event can immediately damage a company’s reputation and it all adds up to an unprecedented challenge.
At no other time in history have companies needed to respond to negative news so instantly, intelligently and strategically to prevent damage before it becomes irreparable.
To help companies survive this gauntlet, three veteran journalists and communicators have partnered to launch Reputation Outlook, www.reputationoutlook.com, a media-centric reputation management firm helping businesses stay the course in a difficult environment.
The Reputation Outlook team, with 75 years of collective experience, has worked with a cross-section of corporate America, from General Electric to Bank of America, from IBM to Apple, from McGraw Hill to Dannon, from American Idol to The Nature Conservancy, as well as many others.
The team consists of:
- Jim Paymar, presently President of Paymar Communications Group, formerly SVP Corporate Communications at PepsiCo, EVP ICIC and correspondent/anchor CNBC, Business Week, WABC and WNBC.
- Randy Savicky, presently CEO of Strategy and Communications, formerly SVP Edelman Worldwide, EVP ACS Communications, VP Ruder Finn and Newsday correspondent.
- Steve Dunlop, President of Dunlop Media, formerly with Fox and Reuters, has formed a strategic alliance with Reputation Outlook to provide media and presentation training.
“Protecting a company’s reputation across all media platforms is more important than ever, but it’s also become far more difficult,” said Paymar. “Managing traditional media is now only part of the challenge. Bloggers and social media advocates can send out negative comments about a company that are read around the world in a matter of seconds and picked up by mainstream media.”
Today, billions of dollars in shareholder value are at stake when a company’s reputation is being assaulted by negative news. Wall Street takes notice and so does Main Street.
“Consumers today are increasingly demanding that companies act in a socially responsible manner,” Savicky said. “These are trends that can’t be ignored. The bottom line is that the bottom line has changed.”
The Conference Board (www.conference-board.org), in a recent report, stated that boards of directors, C-level leadership and operations executives need to demonstrate an active commitment to strong reputation management. While crises are sometimes inevitable, a company’s reputation and how the organization responds when it is most vulnerable can have an enduring impact on how it is perceived for years to come.
“A company’s success, in large measure, rests on how well it preserves its reputation and its integrity,” Paymar said. “How it responds to a crisis and how it tells its own positive story can increase shareholder value by inspiring consumers and investors.”
The Reputation Outlook team works directly with public or private corporations or in conjunction with its outside, public relations counsel. The company also works directly with public relations firms to assist their clients.