Article 4 Feb 2014

Ecuador and its challenges in relation to the management of corporate and institutional reputation

The adoption of the Communication Act in Ecuador in mid-2013 is entailing new challenges for the journalistic sphere and the way in which companies communicate with their stakeholders.

The new regulations impose new conditions in the “media market”. Nowadays, the media has to take advantage of the advertising revenues and also pay more attention to the risks that a publication might pose due to claims, complaints and penalties under the new Act.

Therefore, companies need to tackle the challenge of innovating and looking for new alternatives to further promote their reputation management in relation to their stakeholders. Ecuador will now have many great opportunities. One of them being a commitment towards brand journalism through the creation of own communication channels that allow the placement, distribution and positioning of content. Although the priority of this content is not to promote the brand, they do in fact promote it in a natural way.

And, at the same time, the challenge is to deliver valuable information to the media without putting the name of the brand in the center of the publication, but seeking a true media-business-consumer connection. The same applies to the direct relationships that corporations must have with their stakeholders.

If you wish to receive more information about the new forms of communication that Ecuadorian organizations will have to implement after the approval of the new Communication Act, please keep reading.

Catherine Buelvas, Managing Director of LLORENTE & CUENCA in Ecuador

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