The beginning of the 21st Century is witnessing the birth of a new paradigm in the business model of companies. The previous approach, which merely focused on a single P&L account, the economic-financial results, is no longer socially acceptable or even sustainable. The current companies must address a quintuple accountability (economic-financial, environmental, talent-related, governance and ethics and social action); the result of the constant dialogue and interaction with an increasingly larger and varied number of stakeholders. This paradigm shift forces companies to redefine their managerial functions related to building Credibility and Reputation, the latter being one of the most valuable intangible elements that a company has together with the Brand among these stakeholders. Communication is not enough to conceptualize this task. A new managerial position must be created to meet these duties: the Chief Reputation Officer.
Jorge Cachinero, Corporate Director of Innovation at LLORENTE & CUENCA, Professor at IE Business School and Member of the Scientific Council of Elcano Royal Institute