A brand is essentially the one sentence people say about you behind your back. This practical "street" definition based on actual human interaction applies equally well to people, products, and companies.
The perception is that trust has been abused. Reputation has been damaged. And now, if the bank can get this behind them, there is the opportunity to start down the long road and rebuild trust and reputation.
If you have experienced negative online reviews regarding yourself or your company, you know how frustrating this can be. The sources of the negative press could range from a competing product, an upset former employee or even an unfortunate bad experience with a customer.
Organizations are increasingly vulnerable to public scrutiny, so it's no wonder that the subject of reputational risk is now seen as a company-wide concern -- as opposed to simply the remit of the marketing or communications department.
As the year ends, a shout-out for building responsible executive reputation is in order. We are lucky to have leaders like Bill Gates and Bill Clinton who have devoted their next chapters to responsible endeavors that make a difference. Reputations can be burnished in surprising ways.