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Winning the “Hearts and Minds” of Stakeholders

In: The Vulnerability of Corporate Reputation: Leadership for Sustainable Long-Term Value

Author

Listed:
  • Peter Verhezen

    (MBS - University of Melbourne
    University of Antwerp
    IFC - World Bank Group, Asia Pacific
    IFC - World Bank Group, Asia Pacific)

Abstract

Managing corporate reputation requires boards and top management to assume different perspectives, and to focus on a number of objectives that are well beyond mere profit maximization. Internal drivers of values, beliefs, purpose and organizational culture are an effective counterforce to behavior that only seeks short-term profitability at all costs. Reputation risk management aims at increasing the odds of good outcomes and reducing the odds of bad outcomes. Good reputation management relies not only on vigilance and staying informed, but also on a readiness to respond quickly and effectively to challenges or perceived problems as and when they arise.

Suggested Citation

  • Peter Verhezen, 2015. "Winning the “Hearts and Minds” of Stakeholders," Palgrave Macmillan Books, in: The Vulnerability of Corporate Reputation: Leadership for Sustainable Long-Term Value, chapter 1, pages 16-41, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-54737-8_2
    DOI: 10.1057/9781137547378_2
    as

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