Corporate reputation and the economics of intangibles - Entrepreneur

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur United States, an international franchise of Entrepreneur Media.

Depositphotos.com

The health crisis due to COVID-19 in Mexico has not come to an end, as Mexico is going through a third wave of infections, as well as challenges in terms of health care and inoculation of the population. In addition, the pandemic changed the rules of the business game and triggered new consumer habits driven by ecommerce, home office, streaming and the use of delivery apps, among others.

In this context, Mexican companies will not only have to face the challenges set by the new normal and efficiently manage their physical assets that range from real estate, vehicle fleets and inventories, to economic resources and human capital, but also strengthen and manage one of the most relevant concepts in the post-COVID scenario: the economy of intangibles.

In the near future, companies will move towards an economy based on knowledge and assets that cannot be seen, touched, or measured in a traditional way such as intellectual property, patents, software, ideas, technological innovation, positioning, branding. , intellectual capital, among others, elements that have become one of the largest sources of capitalization for organizations.

Within the economy of intangibles, there is a key element that allows companies to stand out from the competition, avoid various contingencies and win the preference of consumers when making their purchasing decisions: corporate reputation.

What we do, what we say and what others are saying about our brand are the elements that continuously shape our reputation, as well as the perception that audiences have about our company, which will allow it to transcend in time or disappear.

In the framework of this economy, currently investment decisions, mergers and acquisitions, among others, depend to a great extent on the degree of admiration, respect and trust that brands, companies and governments inspire at a global level, which generates social value and an iron dome to face crises.

According to the study The state of corporate reputation in 2020 , prepared by the communication consultancy Weber Shandwick, reputation represents 63% of the market value of a brand and contributes significantly to the success of a company. Furthermore, 58% of the value of a company is attributed to the reputation of the CEO.

^{Depositphotos.com}

On the other hand, the consulting firm Merco recently shared the 9th Merco Empresas y Líderes México ranking, which shows those who have the best reputation in the country. Within the 2021 edition, Grupo Bimbo occupies the first position of the top 10 after five consecutive editions, followed by Grupo Modelo and Walmart; The list is completed by BBVA, Pfizer, Google, Nestlé, Amazon, Natura and Mercado Libre.

It should be noted that Merco's reputational profile for each organization includes three strengths and one weakness among eighteen variables such as: brand value, customer recommendation, job quality, recognized employer brand, corporate pride, ethical corporate behavior, social and environmental responsibility , as well as a culture of innovation and change, etc.

Faced with this scenario, it is important for Mexican companies to gain the trust of their audiences, especially the consumer, through digital communication strategies, corporate reputation management and public relations to positively strengthen their image and branding.

Adblock test (Why?)

Corporate reputation and the economics of intangibles - Entrepreneur
Read More