Protecting a valuable asset: your reputation.

• Author: Gonder, Peggy
• Position: Column

A company's reputation is part of its brand--a precious asset that is strongly linked to its success.

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Research has shown that customers prefer to shop and invest in organizations that operate in socially responsible ways toward their employees, the environment and their neighbors. And all organizations have a vested interest in knowing how they are perceived by their "stakeholders," those key audiences that have a relationship with them.

The way to plumb these perceptions and develop strategic responses is through a reputation audit.

Audits can provide an "early warning system" of problems that need to be addressed, such as a customer service issue. They can also help redirect concerns to the true source of the problem: Is it a quality issue? Has there been a breach of trust with a particular community or stakeholder group? Or is there a perceptual problem that communication can address?

The audit process

A variety of tools can be used, depending on an organization's size, its resources, the objectives and the way results will be used. Tools can include quantitative surveys, individual interviews, a review of communications materials and an analysis of media coverage. The individual interviews can provide valuable feedback when the objective is to identify general areas of concern and strengths that can be addressed. A quantitative survey is desirable if the goal is to establish benchmarks with which to measure progress over time.

In terms of process, an audit usually:

1. Determines the objectives to be fulfilled by the research.

2. Identifies the audiences to be surveyed.

3. Collects the data.

4. Analyzes gaps in reputation or problems to be addressed.

5. Creates a strategic plan to better manage the organization's reputation.

Oxford University developed a plan on the university's future after a reputation audit revealed that opinion leaders thought the institution's ranking had dropped. According to The (London) Times Higher Education Supplement, a three-month audit found that "policymakers and influencers were under the false impression that the institution no longer ranked among the world's top research universities." The audit also found many were unaware of Oxford's efforts to improve access and admissions policies. Identifying gaps in information--and misperceptions--is essential before these negative perceptions can be corrected.

It's likely the Oxford University audit involved sizeable resources. But smaller...