A survey to evaluate the needs of the stakeholders must be conducted (Holmstrom, 1999). Leaders should be educated to deliver the best quality that will have the greatest impact on stakeholder’s happiness. Stakeholders will finish less satisfied if leaders work alone without their assistance and will consider the performance of leaders unfair and this will lead to a high turnover.
The corporate brand contributes not only to customer-based images of the organization, but to the images formed and held by all its stakeholders, including:
- Employees;
- Customers;
- Investors;
- Suppliers;
- Partners;
- Regulators;
- Local Communities.
Everything the organization do or say may affect all its stakeholders even if they are not closely involved. Therefore, organizations need to make sure their entire figure and not just the front office is involved with their brand values.
Eventually, organizations must take a full approach to brand and reputation and make them almost compatible.