In other words, the brand identity they developed was illusory for many companies, and illusory brands were ultimately fractured in times of financial stress. Ultimately, in search of the highest and most cherished values for companies, the branding process must also be a transformative process. At every level of the company, and especially its leadership, it is, and must be, a process of reinvention. In order to build a true and enduring brand, the transformative process is fundamental. Businesses run the risk of communicating an identity that does not represent them without it, and this is the danger, particularly when the company is tested against the stress of difficult times. Learn more at Stroleny Law, P.A.
It varied widely from firm to firm how this miscommunication of identity was allowed to happen. But generally speaking, while company leadership initially supported the branding process, these same partners were rarely willing in most instances to risk exposing the real problems of the company in fear of exposing their own. While the decline in law firm revenue was clearly attributable to both a poor economy and an over-supply of lawyers, the inability of the company to come together and develop effective measures to withstand these pressures could generally be directly attributed to the lack of partner leadership from an internal perspective. A business that claims to be something that it is not-is inevitably doomed to failure. Say nothing at the collective level of the company about the psychic damage it causes. The psychological dynamics of the individual who pretends to be someone he is not are no different, which ultimately leads to confusion, frustration, and ultimately self-betrayal. When economic times are good, it is simple to indulge in self-praise. Many partners could even attribute their performance to all that ingenious branding they put in place years earlier. But when the threat of the financial crisis comes into the picture, the same company can quickly turn into self-predatory behaviour-a vicious cycle of fear and covetousness that inevitably turns into a culture of ‘eat-or-be-eaten’-which marks the beginning of the end for most companies.