Defining the Concept of Brand Equity With Radical Transparency

Defining the Concept of Brand Equity With Radical Transparency

DOI: 10.4018/978-1-5225-2417-5.ch001
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Abstract

Every company must seek the formula that works best for its particular culture and industry. There is no one right way to transform a conventional company into a value driven company. But all the authentically responsible companies subscribe to a set of principles about: the mission, vision, transparency, working, responsibility, openness, authenticity and innovation – all this put in an agenda for value driven companies which are prepared for the challenges we all face. This chapter analyses how the transformational forces: the tangible worth of intangible assets, the war for top-grade talent, the impressive power of inspired employees, the transparent supply chains, the global impact of NGOs, the informed global consumer reshape the business landscape. The insurgent companies that seize on these drives will create real value and increase their long-term profitability. The concept of radical transparency in business gives the companies the opportunity to win the battle for success differently from the competitors, which would ensure the company's sustainable growth and profitability, arousing from the well-shaped relationships with the stakeholders who provide value for the company. The company's brand would be a synonym for those connections.
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Adopting The Idea Of Radical Transparency In Business

History has shown that the world has faced many challenges in many different ways. The economy has put a lot of people out of work in different part of the world in different time interval. But the difficulties people suffered are always the same. The extraction and usage of resources has led and, yet, leads to growing climate crisis and changes with catastrophic possibilities, and the costs for the current lifestyle that the future generations will bear are incredibly huge. As dramatic as the past has been, it only announces the economic, social, political and environmental turbulence yet to come. According to the World Wildlife Fund, if China alone were to reach the rate of U.S. consumption, in terms of natural resources extracted and ecosystems impacted, we would need the equivalent of two Earths. The consequences of such excess and the resultant degradation disproportionately increase the unequal distribution of wealth worldwide. Today, on the one side, half of world's wealth is in the hands of 1% of the population (The Guardian, 2017, January 16) and on the other, approximately one billion people do not have reliable access to clean drinking water. Clearly, the world is still away from reducing the enormous economic, social and environmental imbalances. And yet, after the entire recent crisis, the everyday business discussions are about how the get the economy back to ‘normal’ as it was. Although growing numbers of leaders in all sectors are starting to sense the depth and breadth of the challenges that lie ahead, we still assume a return to business-as-usual, albeit with some necessary adjustments.

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