#Brand #reputation and its #impact on sustainability
One of the great concerns in the world, is the economic crisis that will take place after COVID-19 Companies do not receive income, therefore, they resort to government measures, such as the reduction of working hours, or the suspension of jobs, and, in many cases, they choose to fire their workers, but sooner or later , the pandemic will have been overcome. What will happen then, with the brand reputation of these organizations?
The brand reputation directly affects organizational sustainability
It is true that the crisis affects everyone. they do not receive income, how could they pay their workers or suppliers? But, is it possible e that a company that made millions in profits a year ago, has liquidity problems? I am not an economic analyst, so I cannot answer this question. However, as a communicator, I would like that information to be transparent. Otherwise, it would seem that there are institutions that are taking advantage, to save a few dollars.
Lately, I have repeatedly heard that decisions are made to guarantee sustainability. But whose sustainability? If organizations suspend jobs or lay off their workers, who are they going to support? Only financial profitability is used as a value for sustainability. But what about social profitability? Who are the consumers going to be, if the economy of the working class breaks down? And worse still, where is the brand reputation?
The most valuable asset of an organization is its brand
Brand reputation is the consolidated corporate image. An organization with a good reputation, never goes bankrupt. Throughout history, large companies such as Disney or Coca Cola have gone through economic crises. But, they kept with them, their most important asset: a valuable brand. And, this allowed them to overcome any difficulty, thanks to the collaborative effort of their audiences. But there are no valuable brands in organizations with a bad reputation.
I do not intend to consume again, in a clothing store with 50 branches, which laid off half of its workforce. Nor do I intend to return to a restaurant chain, which suspended the work of its waiters, despite receiving orders online . And, with these examples, I am not referring to small and medium-sized companies. Their owners are also heroes. They are looking for alternatives to face this crisis, without that meaning, impoverishing their workers. I mean the big corporations. Those that, today, turned their backs on a country that needed them. That they discredited communication, as a tool, to make their situation transparent.
Communication is the indispensable vehicle for building a good reputation
As Omar Hassan, a specialist in economic development, points out, what we need is a panic vaccine . The future is dark; It is time to show solidarity. We must support the entrepreneur and the small businessman. Learn about technology, to diversify our income. And, use communication as a vehicle to build brand reputation. Especially from our personal brand.