Further to the News of the World scandalin the UK, Intellectual Asset Management blog ran a post about reputation, “Reputation – the most important intangible asset there is.” They said:
“Reputation is, of course, an intangible asset – one it is very difficult to measure, to manage and to protect. But just because it is difficult does not mean it should not be done. What has happened to the News of the World, and the knock-on effect this has had on News Corp, just goes to show the truth of that.…
…the fact is that without a reputation off which you can leverage strong brands that people want to buy into, the other intangibles, intellectual assets or intellectual property rights you own will be far less important than they could be.”
This is as relevant in the public sector as it is in the private sector of course. There are certainly parallel lessons to learn.