Tags: IMF Chief, Strauss-Khan
The importance and power of reputation is often talked about, but it’s not until a situation such as the allegations against the IMF Chief Strauss-Kahn that we really see how important reputation can be. Overnight the IMF as an institution has had its formidable reputation sullied as a result of one allegation against one man. Undoubtedly it’s an extremely serious allegation, but it’s fascinating how one man’s actions in such a high profile position can have a major impact on the IMF’s standing. The media has even tacked the story onto the Euro crisis, to question whether the IMF’s support for the Euro may now alter as a result, with the accompanying hysteria on the currency markets.
Of course crises happen, and however well prepared you are they will impact on reputation. The trick the IMF has so far missed is to immediately fill the vacuum, and put forward its next most senior member of staff to reiterate (again and again) that it’s business as usual to stop the speculation about the wider organisation.