Economy

Image audit helps foresee crisis

Our Bureau Chennai | Updated on April 15, 2011

Mr K. Srinivasan, Chairman, Prime Point Foundation, and Chief Strategist, Image Audit, addressing management students of the Sri Manakula Vinayakar Institute of Technology, Pudhucherry, at a Business Line Club lecture at the institution.





While a company undertakes annual audits of its finances, stock, costs, and the health of its employees, it does not audit the ‘hidden perceptions' of its internal and external stakeholders.

Studying hidden perceptions could unearth lot of information, and could help it foresee even impending crisis, said Mr K. Srinivasan, Chairman, Prime Point Foundation, and Chief Strategist, Image Audit.

He was addressing management students of the Sri Manakula Vinayakar Institute of Technology, Pudhucherry at a Business Line Club lecture presented by Tata Photon.

Stakeholders' perceptions

Internal and external stakeholders form their own ‘perceptions' based on various factors such as performance, their personal experience, hearsay and rumours.

Normally, they do not reveal such hidden perceptions to the management for different reasons. Such ‘hidden perceptions' affect the image of the organisation, he added.

Crisis avoidance

“A regular audit of their image by companies can help them avoid crisis by making mid-course corrections.

This will also help companies understand the mindset of the employees of target companies during the M&A process,” Mr Srinivasan added.

During the interactive session, Mr Srinivasan also shared some of the live case studies where Image Audit had helped organisations overcome challenges in time.



Published on April 15, 2011

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