Building Reputational Capital: Strategies for Integrity and Fair Play That Improve the Bottom Line

Rating:
Summary: Why Corporate Ethics Pays
Review: This book develops the astute and timely premise that ethical conduct in business is at root a solid economic investment. While money spent following the law might not lead to any special payoffs other than avoiding fines and other sanctions, when a company moves beyond compliance it is making a long-term investment in its reputational capital. Author Kevin Jackson convincingly shows how the notion that you need to be brutal to make it in the business world is a huge myth. And clinging to that myth can ruin a firm's reputation and hurt its bottom line in the process. The powerful message of Jackson's book rings out loud and clear: a reputation for integrity and fair play is the most overlooked intangible asset that a company owns. I think that every businessperson would benefit from a careful study of this book. The author shows how wrongheaded it is for companies to focus on the short-term only, trying to please shareholders with the stock price games that have become all-too-familiar and even scandalous. Jackson gives a clear, sophisticated, and highly insightful guide to help firms maximize principles of moral responsibility -- including respecting human rights, being environmentally friendly, and socially conscious -- to build an enduring and authentic reputation. One of the really interesting ideas set out in the book is that building a strong ethical reputation doesn't have to be a budget-busting enterprise. Corporate leaders can make themselves accessible, treat people with dignity and respect, be compassionate without having to spend a dime. Other good strategies Jackson sets out include: conducting reputation audits, creating mission statements, treating critics (sometimes even activists) as advisors by listening to their point of view, and fostering loyalty from employees and suppliers, which eventually will find its way to customers. The book is inspirational and refreshing, taking both a broad, philosophical perspective while also showing a high degree of sophistication in detailed matters of contemporary business and finance. In making his case for the impact of corporate character on economic assets, he covers ground from Enron, WorldCom and the mutual fund debacle to human rights issues in the Third World.

Rating:
Summary: Integrity Impacts the Bottom Line
Review: This book develops the astute and timely premise that ethical conduct in business is at root a solid economic investment. While money spent following the law might not lead to any special payoffs other than avoiding fines and other sanctions, when a company moves beyond compliance it is making a long-term investment in its reputational capital. Author Kevin Jackson convincingly shows how the notion that you need to be brutal to make it in the business world is a huge myth. And clinging to that myth can ruin a firm's reputation and hurt its bottom line in the process. The powerful message of Jackson's book rings out loud and clear: a reputation for integrity and fair play is the most overlooked intangible asset that a company owns. I think that every businessperson would benefit from a careful study of this book. The author shows how wrongheaded it is for companies to focus on the short-term only, trying to please shareholders with the stock price games that have become all-too-familiar and even scandalous. Jackson gives a clear, sophisticated, and highly insightful guide to help firms maximize principles of moral responsibility -- including respecting human rights, being environmentally friendly, and socially conscious -- to build an enduring and authentic reputation. One of the really interesting ideas set out in the book is that building a strong ethical reputation doesn't have to be a budget-busting enterprise. Corporate leaders can make themselves accessible, treat people with dignity and respect, be compassionate without having to spend a dime. Other good strategies Jackson sets out include: conducting reputation audits, creating mission statements, treating critics (sometimes even activists) as advisors by listening to their point of view, and fostering loyalty from employees and suppliers, which eventually will find its way to customers. The book is inspirational and refreshing, taking both a broad, philosophical perspective while also showing a high degree of sophistication in detailed matters of contemporary business and finance. In making his case for the impact of corporate character on economic assets, he covers ground from Enron, WorldCom and the mutual fund debacle to human rights issues in the Third World.

Rating:
Summary: Why Corporate Ethics Pays
Review: This is a great accomplishment that speaks right to sophisticated business audiences interested in winning while still following their conscience. Author Kevin Jackson demonstrates how taking the moral high road is the most certain way for firms to gain lasting financial success. As he says, "companies that operate ethically, that safeguard and cultivate their reputations, gain a competitive edge over rivals that don't." In this scrupulously researched (its even got stock charts to show effects of ethical/unethical conduct on share prices), interesting, and logically organized book, Jackson offers a practical guide for executives, managers, entrepreneurs, lawyers and consultants. There couldn't be a better time for a book like this to be hitting the press!