As we watched some of the finest corporate reputations bite the dust, we also became acutely aware that there is no `secret sauce` to brew a fine reputation. Yet there are some basic principles that apply and that is what this book sheds light on.

CEO Capital is not about impression management or building personality cults. Nor is it a simple 1-2-3 recipe for assembling a chief executive`s reputation. It is for serious business professionals who recognise and honour the immensity of the chief executive`s job, especially in today`s complex business environment.

Over the past few years, Burson-Marsteller has contributed significantly to the body of knowledge through a series of research studies looking at CEO reputation and its contribution to broader corporate reputation. Those studies have found a significant - and growing - correlation between the credibility of the chief executive and reputation of his or her organisation.

The principal architect of that research is Leslie Gaines-Ross, B-M`s chief knowledge officer, who joined the firm after serving as director of marketing and communication at Fortune magazine, where she was closely involved in the publication`s Most Admired Corporations research.

In the book, Gaines-Ross builds on Burson`s research and lays out a roadmap for CEOs who understand the increasing importance of both personal and institutional credibility. CEO reputation, according to this book, is dependent upon three `C` factors -credibility, code of ethics, and communicating internally - and two `M` factors - attracting and retaining a quality management team and motivating and inspiring employees.

So important are the CM factors that each one surpassed even wealth creation in importance according to the 2001 Burson-Marsteller study, she writes. Evidently, financial performance is important, but simply not enough.

Gaines-Ross makes a compelling case that building CEO capital is not about ego, but about good, old-fashioned leadership. And she shows that it has payoffs for the organisation. But before embarking on what Gaines-Ross calls "the CEO capital model of building reputation," the CEO must buy into the importance of building his or her personal credibility.

The most practical section of the book, based upon B-M`s `Seasons of a CEO` research, provides a roadmap for a new CEO seeking to build credibility inside and outside the organisation.

That task begins in the countdown period, before he or she takes office. The countdown is a time to cherish -a time when a CEO may quietly plan for the future, contact key shareholders, research the company, and do all those innumerable tasks for which there will be so little time later, says Gaines-Ross.

The first 100 days of a CEO`s tenure are critical, and a time when the focus should be inward rather than on external audiences.

The media should be low on the list of priorities for a new CEO during the first 100 days, says Gaines-Ross. Media exposure without full opportunity to gain a thorough understanding of corporate workings is an invitation to disaster.

As the first year progresses, the focus slowly shifts. The CEO must establish a unique corporate persona in which the CEO`s every action and deed reflects in some way the corporate values the CEO wishes to advance and the vision the CEO wishes to instil.

The first step is to engage in what Gaines-Ross calls "intense learning," from customers, from analysts, from alumni, from employees. Then, she says, CEOs can cultivate a persona, establishing those values that will drive the company, articulating a code of ethics.

The second year of a CEO`s tenure can be even more challenging because this is when the change really gets binding and the stakeholders, including the board of directors, start to expect real, measurable results.

The CEO needs to demonstrate the company`s new strategic vision, put stakeholders at ease - show them both financial results and a unified management team - and start to plan for the future.

The CEO also needs to demonstrate what Gaines-Ross calls thought leadership, something that "distinguishes and differentiates a company from its competitors... Thought leadership often breaks with business or industry convention, astonishes if not startles. Thought leadership reflects on the company and builds CEO capital."

Gaines-Ross ends the book with two appeals. The first is for a longer CEO timetable. B-M`s research has shown that all stakeholders expect more of CEOs, and faster. But "the trend toward increasingly shorter CEO tenures is undermining business productivity and focus," says Gaines-Ross.

"Fewer CEOs seem to make it past the five-quarter mark and even fewer beyond their three-year anniversary. Such instability irrevocably and adversely affects a company`s reputation and destiny. Chief executive departures have substantially adverse consequences, affecting too many employees, customers, partners, and investors." The second appeal is related, a call for a longer-term view.

This is substantial addition to the literature of our profession, a manifesto supported by compelling original research and informed by intelligent, sympathetic analysis. It is also a rare book about public relations that preaches not to the choir but to the choirmasters.

(The reviewer is Principal and Founder, Genesis Public Relations, India)