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reputation

May 26, 2015

While a good reputation can bolster consumer loyalty and even increase sales, one slip up in the public eye can set a family name back generations. A new report by Campden Wealth and Credit Suisse looks at the increasing importance of reputation management in Asia

When Korea Air vice president Cho Hyun-ah delayed a flight on her family’s airline last year after becoming enraged by a flight attendant who served her nuts in a bag rather than on a plate, the public fallout was immediate. Twitter hashtags were created and newspaper editorials criticised her entitlement. Within a month the 40-year-old had resigned from all her positions within the family holding company Hanjin Group and is facing criminal charges, while her family’s airline is looking at a $2 million fine and possible flight bans.

March 30, 2015

Investors have backed the second-generation chief executive of Otsuka Kagu in a feud with her father, who wanted her ousted from the family business.

Investors have backed the second-generation chief executive of Otsuka Kagu in a feud with her father, who wanted her ousted from the family business.

Kumiko Otsuka, 47, succeeded her father to the helm of the Japanese furniture retailer in 2009, and has been attempting to give the company more mass market appeal in order to compete with brands like Ikea.

However, her father, company founder Katsuhisa Otsuka, has accused her of taking the firm down market.

February 18, 2015

A family-owned supermarket chain based in upstate New York has taken out multinational behemoths such as Google and Apple to be ranked the number one company for corporate reputation in the US.

A family-owned supermarket chain based in upstate New York has taken out multinational behemoths such as Google and Apple to be ranked the number one company for corporate reputation in the US.

Wegmans Food Markets knocked last year’s winner Amazon from the top spot in the annual Harris Poll reputation survey of more than 27,000 US consumers.

February 9, 2015

A data leak revealing details of some of HSBC’s wealthiest clients has made headlines around the world today, detailing how the private bank assisted clients with tax evasion and denied governments in their home countries billions of dollars of revenue.

A data leak revealing details of some of HSBC’s wealthiest clients has made headlines around the world over the weekend, detailing how the private bank assisted clients with tax evasion and denied governments in their home countries billions of dollars of revenue.

“Old-wealth families” are among the private banking clients HSBC helped evade tax, according to the International Consortium of Investigative Journalists (ICIJ), as well as celebrities, politicians and people associated with arms trafficking, blood diamonds and bribery.

February 10, 2014

Family-owned firms are the most trusted businesses globally, a new survey released this month reveals, but one family business expert says not all family businesses are doing enough to exploit their reputation.

Family-owned firms are the most trusted businesses globally, a new survey released this month reveals, but one family business expert says not all family businesses are doing enough to exploit their reputation.

According to the 2014 Edelman Trust Barometer, 71% of respondents said they trusted family-owned businesses, just ahead of small and medium enterprises, which were trusted by 68% of respondents.

In North America family-ownership played an even bigger role in trust, with 85% of respondents there saying they trusted this ownership model.

October 9, 2013

A top athlete’s name, money and drive can be an incredible boost for a charity, but does a career at the pinnacle of sport prepare you for life as a philanthropist? CampdenFB reports

After the final slog towards the Arc de Triomphe on the last leg of the 2005 Tour de France, world famous cyclist Lance Armstrong took to the podium to take the yellow jersey for a record-breaking seventh time.

Over the course of his career “le Boss” had become a household name – his tale made all the more powerful because it was a near miracle that he had ever raced at all. At the age of 25, Armstrong had been diagnosed with advanced testicular cancer, and even after hasty surgery doctors had only given him a 40% chance of survival. But survive he did.

August 25, 2010

Families need to understand the risks to their business’s reputation and employ effective strategies to combat an increasingly litigious environment. Elizabeth Henson looks at how family businesses can protect their reputation.

Increasingly, family businesses are facing a rise in litigation and a greater propensity for them to be viewed as celebrities, open to attack from the mass media, unscrupulous advisers and other hostile parties. This is a real threat, and one that must be addressed if businesses are to be effectively passed down the generations.

Whilst a strategy for public relations and litigation are regarded as essential by most successful multinational corporate organisations, family businesses frequently neglect to establish similar functions for their own specific needs.

August 18, 2010

Family ownership is a big factor in the success of the luxury consumer sector, which has rebounded sharply since the credit crisis, according to a leading analyst, writes Marc Smith.

Family ownership is a big factor in the success of the luxury consumer sector, which has rebounded sharply since the credit crisis, according to a leading analyst, writes Marc Smith. 
 
Scilla Huang Sun, the lead fund manager for Julius Baer's luxury brands fund, said: "Luxury brands that have a majority owner like a family are likely to have a long-term strategy in place, which is vital to their success."
 

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