How Ratings and Awards Do (and Don’t) Benefit Companies

How Ratings and Awards Do (and Don’t) Benefit Companies
October 20, 2016 HBR.org
ratings

This article by Gabriel Rossman and Oliver Schilke from Harvard Business Review explores the interrelation between the perceived standard of excellence of any particular company, and the demands created by chosen judgment devices. These devices range in things like star rankings, reviews, ratings, certifications, and awards. While these judgment devices serve the function of depicting information in a consistent manner, companies also ought to be aware of the desired degree to which they want them to have an impact. Furthermore, the costs associated with pursuing such devices may come to outweigh the benefits. This article outlines some solid guidelines for ascertaining whether the input is actually worth the outcome.

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