Posts Tagged ‘Forbes’

We have been very busy this month. We also released a survey on where the most powerful women in business spoke in 2011. Using the Fortune Most Powerful Women in business list that includes U.S. and non-U.S. professional executives, we audited where they spoke to determine how much they were in demand and what podiums they were invited to.  There were several interesting findings that are worth noting since one way to build professional reputation, get company messages across to important audiences as well as build corporate reputation is to leave those four walls of the C-suite.  In fact, I was speaking to someone at Forbes the other day who confirmed to me that the executive conference business was booming. As it were, women are in great demand.

• These most powerful women spoke at 218 unique events in 2011.
• The leading speaking forums in 2011 for these top women executives included Fortune’s Most Powerful Women Summit, The World Economic Forum/Davos, India-US CEO Forum, Women Corporate Director’s Global Institute, the Paley Center for Media International Council Summit and the APEC Women and the Economy Summit.
• We also provided insights on what types of conference events they spoke at – from industry-specific events (e.g., World Food Prize Conference and FICCI-IBI Conference on Global Banking) and conferences geared toward job function (e.g., Techonomy and ANA Conference), followed by women’s leadership and academic forums.
• Our research also found that the digital category (e.g., Digital Life Design and South by Southwest) is starting to emerge and is crossing women business leaders’ radar screens.

We do this type of analysis every year and sometimes we analyze all CEOs and top level executives –men and women. However, we thought that looking at where executive women spoke was past due. So here we are.

   Attended an interesting roundtable yesterday hosted by Business Marketing Association and Forbes. The topic was managing reputation in the new world of the Internet. Some interesting points surfaced:

• It is easier now to track reputation and ROI with the Internet. However the field of social media is so new that it is very difficult to track back to a baseline.

• Marketers are now interested in reputation as they realize that the company behind the brand matters. CMOs are the new entry point into companies as they see the connection more vividly. Product marketing is not enough.

• Perception is nice to have but behavior is have to have. You need your customers to act – buy your products, give you the benefit of the doubt in time of crisis, recommend you to others, spread word-of-mouth.

• Social media is the new Petri dish.

• Reputation Institute’s Anthony Johndrow reported on a study among CMOs and CCOs. They found that 97% are interested in reputation, 89% are doing something in the space but only 33% are measuring its impact. Disturbing when companies spend so much on reputation in general.

• We should be referring to “social business” not “social media.”

• Integration between traditional and social is key.

• One of the reasons more companies become social is that competitors force their hands. When a competitor starts using Twitter, YouTube and Facebook, its rivals are propelled into this new world.

• Sometimes your critics can be your best advocates. An example was given of a relentless critic who also links to company articles mentioned on Twitter that promote the company’s point of view. So your online enemies can also get your word out if you just time it right.

Everyone agreed that reputation has become more complex, harder to manage and everyone’s job. In addition, the bar is now not as high or as low as it was just one year ago. Since so many companies are now using Twitter for engaging customers and neutralizing reputation damage, some of the early examples such as Dell and Comcast are just that – text book examples and expected today.

In October, the WSJ wrote about how Fortune was cutting back on its heroic CEO magazine covers as it revamps itself in light of the changing media and anti-CEO landscape. The article said, “One casualty will be the CEO-as-god magazine covers that have been a staple of the magazine, whether with Jack Welch or Warren Buffett.” As a Fortune lover, former employee and CEO-watcher, that quote remained firmly imprinted in my brain. Despite the negative perceptions of many CEOs today, CEOs still hold great interest to business people, investors, employees and other key stakeholders. They still help to determine the destiny of companies by picking the right teams, building best-in-class cultures making the tough decisions. So as the year comes to a close, I decided to look into whether the business magazines and Time have been pushing CEO mugshots on or off their covers during this tumultuous year  and compared to the past several years. The results are below. 

 As you can see, there was pullback in the business magazine category except for Fortune. Fortune had 8 covers in 2007 and in 2008 and one more in 2009. Besides Bernie Madoff of Ponzi fame, the CEOs on Fortune’s covers were the likes of champions such as Warren Buffett, Steve Jobs, Jeff Bezos and Mark Zuckerberg — leaders that all accomplished amazing deeds and built good reputations.  It would be hard to argue that they did not deserve to grace a Fortune cover. Time actually added one (Rupert Murdoch of News Corp.) in 2009.  Will be interesting to see where the new Bloomberg BusinessWeek falls out one year from now.

We’ll take a look again in 2010 as CEO reputations hopefully begin to rebound (a little).

PS. The cover in my post is one of my all-time favorites and I have a large one framed in my office at home. It’s spectacular.