A company’s reputation is its biggest asset. It can be the foundation of a company’s success but it can also lead to its downfall. Every organisation needs to protect its reputation and do all it can to generate a positive perception from all stakeholders be they customers, investors, employees, suppliers, the media etc. Everybody the company deals with will have their own opinion of the organisation, and each stakeholder has the power to spread the word, be it good or bad.
Effective PR can help build a favourable reputation by communicating with a company’s many publics, resolving any emerging issues and building strong relationships with all stakeholders.
The Chartered Institute of Public Relations (MCIPR) defines Public Relations as:
- Public Relations is about reputation - the result of what you do, what you say and what others say about you.
- Public Relations is the discipline which looks after reputation, with the aim of earning understanding and support and influencing opinion and behaviour. It is the planned and sustained effort to establish and maintain goodwill and mutual understanding between an organisation and its publics.