BMW - the World's Most Reputable Company in 2013
Is your atypical Friday anything like this?
“I wake up in the morning and brush my teeth with Colgate 24 Hour Protection.
I run down to the kitchen to jolt my brain awake with a hot mug of Nescafe, while buying a physical book on Amazon.com, on the Chrome browser on my iMac which is powered by Intel inside.
I shovel down a Kellog’s cornflakes breakfast and have a quick shower using J&J’s hypoallergenic baby bath.
I put on my Georgio Armani suit, Rolex Submariner and drive to work in my BMW 525i.
At work I use a Sony Vaio which runs a Windows 8 to make bookings to visit Disneyland with my family next month.
I call my wife on my Samsung S III and remind her to take the VW Tuareg when she takes our son to buy a Lego toy.
After work I stop over at my favourite gym and change into my Nike sportswear and put on my Adidas Cross Trainer.
I head home after an hour, get rid of my 5 0’clock shadow with my Philips Electric Shaver, shower and leave for a business dinner appointment in my Mercedes S350.
After dinner I rush into a pharmacy to pick up my wife’s L’Oreal hair colour.
It’s raining but I’m at peace because all my cars run on Michelin tires.
Before I turn in for the night, I update my blog which runs on an IBM Unix server located somewhere in the US and place an order for a Canon D60 camera to use on our holiday.”
Well, this isn’t really a typical or atypical day for me. It’s just a fantasy of how the products of the 2013 World’s Top 25 Most Reputable Companies’ could impact someone.
Watch this video for the list of the world’s top 25 most reputable companies in 2013 as reported by Forbes.
This research was conducted between February and March 2013 and the respondents were 55,000 consumers from the world’s top 15 economies. i.e. Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, South Korea, Spain, UK and US.
What do these companies have in common? They all have 3 characteristics in common:
1. They focus on the 7 dimensions of reputation
2. They engage with stakeholders as a company and not by specific products
3. They systematically integrate reputation decision-making into their work processes
And here are the 7 Dimensions of Reputation:
What did BMW do to make it to the top?
BMW is the only company to place in the top 5 in all 7 reputation dimensions.
The key take away from these results is that you need to have a balance in these seven areas.
If you just focus on your products and services, your reputation is going to dive.
In fact the more important Dimensions are the bottom five listed above. It’s stakeholders’ perception of the enterprise rather than the products that drive their opinions and behaviours toward the company.
This means you have to treat your employees well, govern your company transparently and ethically, be a responsible citizen where you operate, have great empathetic leadership and for God’s sake perform well.
Reputation is measured by the Admiration, Trust, Feeling and Esteem your stakeholders have towards your company. It’s an emotional commotion.
It’s a Jurassic leader or manager who thinks that business and emotions don’t mix.
Business is driven by emotions. [update 1 Feb 2015 - read the LinkedIn post].
Wake up! This is the 21st Century. People’s emotions are transforming your company. Sometimes it’s evolutionary and other times it’s a tectonic shift.
Do you have anything to add to these findings? Comment below...