No excuse for ignorance
A good reputation, as Warren Buffet famously pointed out, ‘takes 20 years to build and only five minutes to ruin.’ His observation holds more truth for more organisations today than ever before.
Reputation is far more than image or public perception. It’s a major component of value–how one creates and renews the trust that underpins the ability to attract and retain customers, transact business and compete in global markets. And it’s increasingly vulnerable.
Business leaders need to know that what their organisations say and what they do are consistent, stack up and don’t leave them exposed. They also need to apply that same rigour to third parties. The consequences of failing to do so could be grave. Boards and senior management, therefore, need to ask the right questions–and further seek assurance that the answers they receive are accurate, dependable and robust enough to share with their stakeholders.
Assurance that performance is being achieved, therefore, has a key role to play. It offers a source of powerful differentiation–and a solid platform for competitive outperformance and value creation.