Identity

The Bank of Broad Wealth programme advises on managing an entity’s identity or brand. An entity’s identity - be it of a nation, corporation or family office - represents an institutionalised quality that is in its and its members’ care; it is fundamental to mediating the mutual relationship between stakeholders through communicating the values that govern its response to risk, i.e., the opportunities and dangers attendant to a society’s pursuit of wealth creation.

Actions and identity are viewed holistically; reputation comprises the coherence over time between the transmission of identity through communication and each audience’s experience and interpretation thereof.

As such, leaders should avoid communicating, through actions or otherwise, an identity that is unsustainable either as inauthentic as an act of self-legitimation or in response to false demands. A brand not perceived as authentic damages reputation through having raised stakeholder expectations to undeliverable levels; it is equally incumbent upon stakeholders (both internal and external) to take responsibility for acting with regard for the values, capabilities, and limitations, of the brand.

The management of identity is necessary for maintaining and optimising an equilibrium between stakeholders in order to minimise opportunities for the realisation of and, where necessary, to maximise opportunities for the resolution of, conflict manifested in the form of ‘negative crowd formation’ - particularly within the context of social media.