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closeCorporate Excellence and Dircom hold the First Conference on Innovation in Metrics
Metrics
Corporate Excellence and Dircom hold the First Conference on Innovation in Metrics
Madrid, March 10th, 2014. The importance of intangible assets as a management and value creation tool is clear. One of Corporate Excellence’s key objectives is to demonstrate the economic impact of intangible assets and resources. The truth is that the new reputation-driven economic system needs reliable and rigorous long-term indicators such as brand, reputation, employees’ commitment and customer satisfaction. These indicators help companies to engage their stakeholders and develop long-term strategies.
This was the starting point of the 1st Conference on Innovation in Metrics held last week in Madrid by Corporate Excellence jointly with one of its key allies, Dircom Spain.
José Manuel Velasco, Dircom’s President, emphasized that one of the main challenges faced by Communication Directors today is to demonstrate the value of intangible assets internally in order to secure adequate resources for their management. In his turn, Corporate Excellence’s President Jose Luis González-Besada, said that today competition is not about size, price or any other financial variable – it is all about reputation. And competition over reputation emphasizes the importance of respect, admiration, empathy and support of all those who play the key role in organizations’ continuity – their stakeholders. This focus introduces a new way of doing business – a long-term multistakeholder approach to management.
The first session titled The Methodology and Process of Defining Identity and Culture was presided by Mariano Maqueda, Partner and Director of Punto de Fuga, and María Such, Manager for Corporate Reputation at BBVA. It was discussed the case of identity-based redefinition of BBVA’s vision from within and the impulse that a shared culture may give a company, uniting its employees in the understanding of the common direction. Qualitative research tools played the key role in this process as well as the support provided by the top management.
Millward Brown, represented by Pepe Martinez, Director & Marketing Responsible, and Adolfo Fernández, Client Service Director Madrid Office, presented its Brand Equity Model designed for identifying associations evoked by the corporate brand and thus determining its main competitive advantage. Both speakers argued that the area where brands can relate to their stakeholders is content creation.
Carmen Dato, Director of Villafane & Asociados, presented the Commercial Reputation Index; while Beverly Nannini, Director at Reputation Institute, talked about the reputational risk management model.
Macarena Estevez, Conento’s CEO argued that metrics are essential since they are the only way to improvement and talked about 6 key conditions that ensure their effectiveness: Involvement of the top management; 50 /50 distribution of financial and non-financial indicators in the company’s measurement structure; Regular reporting; Clarity about expectations; Combination of short-term and long-term vision; The more just in time, the better.
The session titled Digital Spaces featured Juan Cardona, Reputation and Stakeholders Director at Llorente & Cuenca, who presented the 3rd issue of Online Comments Report – a methodology developed by Llorente & Cuenca together with Corporate Excellence to measure the impact of messages published online on corporate reputation. The methodology is used by 71 companies from seven countries. This presentation was followed by Sergi Guillot, Acceso’s CEO, who talked about Big Data, and José Carlos Martínez Lozoya, Corporate Reputation Manager at Iberdrola, who discussed the measurement tools used by his company. The speakers agreed that companies need to employ professionals with some new profiles in order to successfully manage these tools.
Closing remarks were made by Ángel Alloza, CEO of Corporate Excellence – Centre for Reputation Leadership, and Sebastián Cebrián, General Director of Dircom Spain. Alloza and Cebrián emphasized the importance of incorporating non-financial indicators into balanced scorecards. Intangible assets are already on the top managers’ agenda, but in order to strengthen their position it is important to demonstrate their contribution to business and value generation.
