During a recession the maintenance of a good corporate reputation is more vital than ever as Roz Morris, Managing Director of TV News London, explains in her article in this month's FINANCE & MANAGEMENT magazine.
Other organisations included in the four-page spread, offering advice on managing stakeholder relationships in a recession, are the HMRC, the Chartered Institute of Personnel and Development, HSBC, the Investor Relations Society, Price Waterhouse Coopers LLP, and the Chartered Institute of Purchasing Supply.
“Never be tempted to hope that a problem will go away without any bother. In the age of You Tube it is just not worth the risk. It has never been easier for bad news to travel faster and farther than ever before….. so … Forget about old-fashioned management ‘wisdom’ which always advices cutting back on PR and marketing during hard times."
She adds: “Many crises that savage corporate reputations are tales of the unexpected; small problems escalating to crisis level.” Her advice is for organisations to have systems for reporting any problems that could cause bad publicity, plus keeping the crisis management plan up to date and building crisis media management into crisis planning.
21 May 2009