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 Seeing this list, some are undoubtedly wondering why superior performance at their company went unnoticed. It could be that they have been invisible, hiding their business success and good works. Or it could be that their competitors have defined their reputation for them. There is a saying in the public relations business: "If you don't tell your story, someone else will."
 Ensuring that perception is aligned with business reality is the mission of the public relations profession. In the 17 years that Fortune has been ranking corporate reputations, managing a company's perception has become increasingly challenging. The proliferation of information and media, intense public scrutiny and constant corporate change has created confusion, distrust, and cynicism that erode the reputations of American businesses with their employees and external publics. But why care…unless reputation contributes to a company's business or stock performance.
 It does. Business experience and research has demonstrated time and again that a good reputation helps a company sell its products, recruit the best and the brightest, and attract the most desirable business partners. One of the clearest examples of that impact is a survey of high income Americans who were asked how they would behave with respect to companies with reputations as "winners".
Source: Brouillard Communications/Yankelovich Partners Inc.
Reputation also influences performance in the financial markets. For the past several years, Yankelovich researchers have been working with Fortune to survey their subscribers to track the impact of reputation.
Rewards of High Corporate Equity
Source: Fortune/Yankelovich Partners Inc., 1998
How does a successful company get credit for being a winner, build a high corporate equity? It takes a long-term building of relationships with a wide variety of audiences from customers to competitors, shareholders to Senators. Some audiences have a particularly strong influence on others. Employees make that all-important first impression on customers. Because they do not have a stake in the company, the media, stock analysts and other third parties have strong credibility. And since they have access to and acceptance by many other audiences, gaining their support is both efficient and effective.
Convincing skeptical third parties is the primary - and toughest - job of public relations, particularly when things are not going well. A strong reputation is like an insurance policy, money in the bank for a rainy day. It probably won't help a company avoid a nasty story in the newspaper, but it may keep it to a one-day story rather than the continued hemorrhaging in the media that can take a toll on a company's sales, stock price and strategy.
Building the relationships that preserve company reputations in good times and bad requires proactive communications. There is a direct correlation between high levels of corporate equity and the frequency that a company's publics hear about it.
Source: Fortune/Yankelovich Partners Inc., 1998
While a company benefits by telling its story proactively, success in communicating depends on more than volume and frequency of messages. The public is saturated with a mind-numbing information overload and a clutter of advertising. Today strategically targeted communications and strong and lasting relationships with each of a company's audiences must build reputations.
Communications and relationships have taken on a new and increasing importance as intangible assets represent more and more of companies' total worth. Not just reputation, but intellectual capital, employee commitment, public trust, and corporate brands are corporate assets that must be developed and preserved for business success.

Recognizing the strategic role of public relations in managing those critical business assets, a group of public relations firms has created a new standard for its industry. Members of the Council of Public Relations Firms are tested against the most demanding criteria of service quality, financial accountability and ethical practice. Just as they are dedicated to helping companies build and maintain their reputations, Council members are investing in the reputation of their businesses and their profession.

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