Brands are among a business’s most valuable assets – and are the most valuable for some. Yet they are hard to create, can prove ephemeral and are easily destroyed. The management of these intangible assets is thus a vital element in business success, a fact increasingly understood by companies around the world.

But effective brand management cannot be half-hearted. Businesses that wish to maximise brand value must devise long-term strategies to achieve that target and structure their organisations appropriately. They must also reward their executives for success in implementing their strategies, making brand value a key performance indicator.