In Colombia, 2WAY is the goodwill consulting firm which classifies the companies depending on six pillars that they have established to determine how well positioned these are in the ranking designed by them.
“In this sense and in order to be more objective and accurate, we designed an innovative scheme which breaks down the six great dimensions that make up this important asset: strength and trajectory, value proposition, talent and wellbeing, corporate social responsibility (CSR) and sustainability, innovation and leadership and ethics and transparency”, explained Jose Maria De Guzman, senior partner of 2WAY.
“Each one of these dimensions represents one or more axes of the companies’ duty. For example, nowadays the companies are not only seeking to be profitable or to have high income, they also want to be sustainable, have a proper impact on their audiences and on the environment they develop in, build a positive image towards the media or the stakeholders, position in the market and assure that people prefer them, amongst others, due to the added value that they give to their products”, explained De Guzman Mora.
On the third edition of the awards, the firm analyzed more than 200 companies with presence in Colombia and after determining the results, according to the criteria defined, the best positioned was the Nutresa Group, which was second on the list last year.
The following positions had big surprises. Colombina was second, while Alpina was third; they got 20th and 25th place respectively on the previous ranking.
About how to measure goodwill, De Guzman explained that “we have selected objective or technical aspects (income, profits, capacity, profitability, etc.) and subjective elements of perception and opinion (reputation, admiration, recognition, interest in working and being a part of them), to measure the reputational value of our clients”.
However, even though there were companies that had important leaps in the indicator, others were affected by the issues of their business and they lost positions in the ranking. An example of these is Ecopetrol, besides the crisis that resulted from the fall of international oil prices, it faced the scandals arising from the cost overruns in the extension of the Cartagena Refinery (Reficar) and the development of Bioenergy.
On 2015’s ranking, the Colombian Oil & Gas company got the 3rd place, and on the new one, it went down to the seventh place.
To be able to estimate the goodwill of the companies, 2WAY considers data supplied by the Superintendence of Companies, the Financial Superintendence, the National General Accounting Office, the Colombian Stock Exchange, the Dow Jones Sustainability Index, Dow Jones – Colombia Select, Supersalud, Supervigilancia, Supersubsidio Familiar, Superservicios and Supersolidaria, as well as the results of other studies and the different perceptions, news and reports presented by the most important media organizations of the country.
“In order to monitor the perception of the stakeholders we reviewed, from the standpoint of the dimensions goodwill, all the publications over the last 18 months on the newspapers, specialized magazines, the radio and television, as well as online media” said De Guzman.
Finally, he indicated that “based on these, we were able to capture and contrast the real information of the companies nationwide against the score given by business owners, experts, Colombian households and the media to their performance in the year 2016, to finally compare the results with those of the previous year. We Classified the data and we allocated a specific weight to determine their incidence”, concluded De Guzman.