All tagged Intangibles
One of the more tangible of intangible assets is a company's corporate responsibility (CR) program. Since I consult with a number of companies and organizations on these programs, I try to stay current on new ideas and points of view.
I was in the middle of writing about the sites and blogs I use to try to stay current when a colleague pointed out I had been scooped by Chris Jarvis at Fast Company in a post on the top ten sites which encourage conversation about social media and CSR
There are some overlaps between my list and his (Just Means and Taking It Global) but here are a couple more smart websites and blogs tagged in my RSS reader. I also follow a few Twitter 'friends' who direct me to useful CR and sustainability studies and reports.
Here are some of the most valuable . . . to me at least:
Please post a comment if you have others to recommend.
Newcastle United FC is a storied franchise in English football and 'my club' in the sense that I was born a Geordie (the name used to describe people from the northeast of England) and therefore am genetically predisposed to being a member of The Toon Army, as frustrating as that can be. My father (long deceased) was a friend of one of the team's legends, Jackie Milburn ('Wor Jackie' as he is known), from when they both lived in Ashington in the 1940s.
This past season was a disaster for the club, with managers changing three times during a 38-game season and poor performances on the field by highly paid "stars'. The result is an ignominious demotion to the Coca-Cola Championship from the Barclays Premier League (where such other well-known franchises as Manchester United, Chelsea, Arsenal and Liverpool play).
The owner -- Mike Ashley, who has been problematic, if not a disaster, from the beginning according to most reports -- has been trying to sell the club since at least the last day of the Premiership season. It is now being coached by an interim manager.The players are furious and many of the first string players are asking for transfers. Even Ashley admits he has made a mess of things: “It has been catastrophic for everybody. I’ve lost my money and I’ve made terrible decisions. Now I want to sell it as soon as I can."
I have watched the public relations calamity unfold online on an almost daily basis through news reports from British newspapers and the NUFC's website (which tends to report absolutely zilch about what is going on). The extraordinary thing is that management appears to be saying naught. News reports are based almost exclusively on comments by players or "sources' close to the club.
From what I can tell, management has said nothing to reassure the city of Newcastle nor the club's extraordinarily devoted fans that the coming season in the lower division will be nothing short of a debacle. No reassurances are being given; no sympathy expressed; no plans outlined; no time frames given; no deadlines offered . . . in other words, completely counter to basic crisis communications principles.
Okay, maybe management doesn't see the situation as a crisis. Maybe management's solicitors or investment bankers have said it must say nothing. Maybe it is sending out news updates that no news outlet is picking up. Maybe it has a social network, YouTube channel, blog or Twitter presence which I just haven't been able to find. Or maybe management simply doesn't recognize the damage that is being done to its reputation.
The supporters will be there for the players on the pitch when the dust settles: but when Geordies are called on to support an NUFC management business initiative, when the city is asked for a concession or a tax, or when the club's history is written, who will be there to defend management's interest and its "license to operate" the Geordies' club?
The stock of CSX Corp., a Jacksonville Florida-based railway company has been discounted as a result of lingering criticism of "poor management", according to UBS analyst Rick Paterson as reported today in the Financial Post. (I can't find a link: The Financial Post's website doesn't make it easy.) It should be trading at a premium to its competitors according to Paterson.
He goes on to say "Four or five years ago that ("poor management") was probably true, but we think these days are long gone and (mis)perception is lagging reality."
If that's the case (and I have no idea if the company has been actively trying to restore its reputation), then why is it that investment bankers and equity analysts stubbornly resist the idea that a good reputation, consciously developed, nurtured and communicated, can have a measurable impact on valuation? And why is it that some companies have such a hard time understanding that reputations don't recover solely through solid financial performance?
There are strategies for reputation recovery. But they require commitment, humility and honesty . . . and the support of financial advisers, lenders and legal counsel.
Josh Reynolds, global head of H&K's technology practice, is one of my smartest colleagues, otherwise I would avoid the blatant corporate self-promotion of suggesting you spend 15 minutes watching this interview by Robert Scoble in which Josh talks about why our current economy is making digital the preferred marketing and corporate communication tool. (I have included the link since the embedded video below is only working intermittently.)
And just so you don't think that Josh is acting with such expressiveness only for the camera, I can confirm that he is like this in person . . . especially in client presentations.