We believe that everything in life has (at least) a two-dimensional reference system. We usually measure quality on the vertical axis and quantity on the horizontal one. This article aims to explore the vertical axis and answer the challenging question “What makes reputational management qualitative?”
By qualitative reputational management, we understand a strategy which not only brings but helps us keep the competitive advantage we start with.
By qualitative reputational management, we understand a strategy which not only brings but helps us keep the competitive advantage we start with.
So, first, in order to maintain the strengths we already got, we need to continuously come up with either the same or new resources to generate similar or even better outcome for our businesses. Thus, the quality of our firm’s notoriety will be determined by the quality of our resourcefulness, respectively, how we use the capitals we already own.
A means based approach to competitive advantage focuses on the 4Cs as main supportive pillars of reputational management. We want our reputation to be Consistent (or durable), Clear, Convertible and easy to Clone.
- Consistency
Why be consistent? When approaching competitive advantage, we want it to last, right? From the beginning, we want to somewhat secure our clientele in the long term. We ask for this durable loyalty from our customers so we can count on them, ensure real impact and keep on being relevant in the world. We want security!
What to do to be consistent? Technology will always advance. It’s a given fact which mainly affects our capitals and challenges this consistency we want. In order to stay in the game, we need to keep up and adapt continuously; and fast.
How to be consistent? So, in order to be consistent or self-sustainable, we need to stay focused and pay attention to context changes and technological developments. This way, we regularly upgrade our resources in order to answer the “market call” and its direction.
- Clarity
Why be clear? Oh, you mean transparent? Well, whatever we call it, there is a burning necessity for an authentic, coherent and defined organizational identity. The stronger and more straightforward we are, the more we differentiate from our competitors and we get to appeal to our desired target group. We offer clarity in order for people to see our depths and be aware of what they choose us for; so our customers get to connect to us on a deeper level, maybe knowing what technologies we use or what inside practices we apply and this way get to build long term trustworthy relationships.
What to do to be clear? On the other side, though, being translucent allows our competitors to easily imitate what we’re doing well. That’s only natural in an ambitious environment such as the one we’re confronting with nowadays. For some, it’s a race to rob their competition of its long-term advantage.
In this case, we need to develop multidimensional performance and reputational management systems which, in their complexity, would be very difficult to replicate fast, so they won’t be able to keep our pace.
- Converting
Why be convertible? Up till this point, we have approached this gamesmanship problem from the perspective of market leaders. But what if we’re the small, new ones which just walked in the crowded room and everybody’s meanly staring at us?! Fine, not mean. Or what if we’re just trying to simply strive in this context?
Well, we want to convert their successful practices, to transfer their resources and capabilities so that we could have a similar outcome. No matter where you are in the company’s lifespan, reinventing the wheel is not business wise. So, then, we need to acquire the proper set of capabilities that will keep us alive and kicking in this competitive challenge.
What to do to convert? On one hand, we’re referring to indirect conversion. We obtain either human and technological capital or any other resources from their specific trading markets. In terms of bearable costs and investing capitals, companies react differently.
As we stated above, we all want to maintain our edge. So, on the other hand, keeping the lead will make the direct conversion tougher, for not all resources will be easily moved from one to another. Due to geographical conditions, the quality of information held or the specificity of the firm’s reserves, enterprises won’t be opened to trade in their secrets and potential on equal terms or at all.
In conclusion, the greatest provocation in this matter is assessing how much we are able and willing to invest in acquiring the needed capabilities as opposed or in complement to growing them by ourselves.
- Cloning
Why to easily clone? Cloning reaches the latter subject specifically. It approaches the tools we use to replicate success BY OURSELVES. In some cases, building the needed capabilities ourselves comes cheaper. But the stronger reason for which we do it is that of ensuring self-sustainability.
What to do to be easily cloned or to easily clone? Integrating strategic resources that would support our company’s identity is an important detail to take into consideration when cloning. This needs to happen because it’s easy to just copy, but without customization. This could possibly go wrong such way that the firm’s reputation rejects the outcome from these newly acquired resources. Also, in order to maintain competitive advantage, we need to replicate or invest in hardly replicable organizational systems. As highlighted before, complex routines are difficult to imitate.
|
WHY |
WHAT | HOW | ||
| PILLAR | SHORT DESCRIPTION |
BiT Influence |
||
| ENFORCE Competitive Advantage | CONSISTENCY | Consistent Reputational Management ensures that we benefit from competitive advantage that lasts in time, in spite of technological depreciation. |
|
OUTWARD EFFORT |
| CLARITY | Clear Reputational Management enforces on that which ensures the competitive advantage in the first place. | |||
| MAINTAIN Competitive Advantage | CONVERTING | Transferring successful Reputational Management practices from other companies ensures you’re still in the competitive challenge. |
|
INWARD ACT |
| CLONING | Cloning Reputational Management tactics by investing in internal capitals promises to maintain a competitive advantage. | |||
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