Business reputation and the economics of intangibles

This post was translated from the Spanish edition using AI technologies. Errors may exist due to this procedure. Opinions expressed by Entrepreneur contributors are their possess.

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The particular health crisis due to COVID-19 in Mexico have not come to an end, seeing that Mexico is going all the way through a third wave associated with infections, as well while challenges in terms associated with health care and inoculation of the population. Inside addition, the pandemic transformed the rules of the business game and triggered new consumer habits driven simply by ecommerce, home office, loading and the use of delivery apps, among others.

In this context, Mexican businesses will not only have got to face the issues set by the brand new normal and efficiently handle their physical assets that range from real estate, vehicle fleets and inventories, to economic resources plus human capital, but also strengthen and manage 1 of the most related concepts within the post-COVID situation: the economy of intangibles.

In the near future, companies will move towards a good economy based on understanding and assets that cannot be seen, touched, or even measured in a traditional way such as perceptive property, patents, software, ideas, technological innovation, positioning, branding., rational capital, among others, components that have become one of the largest sources of capitalization for institutions.

Within the economy of intangibles, there is a crucial element that allows companies in order to stand out from your competitors, avoid various contingencies plus win the preference of consumers when making their purchasing decisions: corporate reputation.

What we do, what we should say plus what others are saying about our brand would be the elements that continuously form our reputation, as very well as the perception that will audiences have about the company, which will allow it to transcend in time or disappear.

In the framework of this economy, currently investment decisions, mergers and acquisitions, among others, depend largely on the degree of affection, respect and trust that brands, companies and government authorities inspire at a global level, which generates social value and an metal dome to handle crises.

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According to the study The state of corporate reputation in 2020 , prepared by the communication consultancy Weber Shandwick, reputation signifies 63% from the market worth of a brand and contributes significantly to the particular success of a firm. Furthermore, 58% of the particular value of a company is attributed to the particular reputation of the CEO.

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On the other hand, the consulting firm Merco recently shared the 9th Merco Empresas y Líderes México ranking, which shows individuals who have the best reputation in the country. Within the 2021 model, Grupo Bimbo occupies the very first position of the top 10 after five consecutive editions, then Grupo Exemplo and Walmart; The checklist is completed by BBVA, Pfizer, Google, Nestlé, Amazon, Natura and Mercado Libre.

It must be noted that Merco's reputational profile for each firm includes three strengths and one weakness among eighteen variables like: brand value, customer recommendation, job high quality, recognized employer brand, business pride, ethical corporate actions, social and environmental obligation, as well as the culture of innovation and change, and so forth

Faced with this situation, it is important designed for Mexican companies to gain the trust of their audiences, especially the consumer, by means of digital communication strategies, business reputation management and open public relations to positively improve their image and branding.

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