Reputation
In a new world economy, where non-physical assets
command awesome value and media is omnipresent, it is
imperative that organisations proactively manage reputation
through an ongoing, integrated approach to risk management
and stakeholder communications. The stakeholder confidence
and market credibility that underpins the entire enterprise
depends upon it.
All the elaborate business plans, innovative ideas
and savvy strategic moves are meaningless if companies
don’t have a good reputation in the eyes of their customers,
employees and potential investors. A solid relationship
is what gives people the confidence to do business –
and helps companies weather the tough times.
Corporates must gain critical insights into
the following reputational issues:
An overview of a compelling business case and a critical
confluence
Reputation is an asset that, like any other, is subject
to injury and loss. Reputation risks arise where situations
or occurrences in other categories of risk also threaten
an organisation’s image and stakeholder regard. As such,
the task of managing reputation risk represents a critical
nexus for risk management and stakeholder communications
specialists.
What are your organisation’s risks? Where, why and
how do they arise?
Mapping the risks that affect your organisation – understanding
what they are,
whence they arise and why – is a critical step in developing
the strategy by which to control and manage reputation
risk. Any organisation has a number of stakeholder groups
and operating environments and effective vulnerability
analysis – the basis of a risk matrix – must be executed
with due consideration for these various interests and
fields. In the high-risk, critical operating environment
occupied by the RAAF, where political concerns intersect
with national security, hazardous tasks and human life,
the stakes are especially high. In this session, Joanna
will discuss how the RAAF has engaged senior staff and
risk management and corporate communications personnel
to develop an incisive, robust reputation risk matrix.
Integrating reputation risk in business continuity
management and disaster recovery planning
When a crisis occurs, its consequences are likely to
be felt right along the chain of business processes
and reputational degradation can develop into self-fulfilling
prophecy, swiftly exacerbating critical situations.
On the other hand, a solid reputation acts as a buffer
against negativity generated around the crisis, providing
an overall positive context that puts the incident in
perspective. It also helps to garner the stakeholder
confidence necessary to get things up and running again.
As such,
reputation risk management is a linchpin in any business
continuity and disaster
recovery plan to reduce risk, minimize damage and disruption
and speed resumption of operations and needs be integrated
accordingly. In this session, Charles and John detail
a highly effective approach – developed through extensive
fieldwork – to integrating reputation risk management
with business continuity planning and disaster recovery.
Linking reputation management to business strategy,
process and operations
Reputation management is a core component of a cycle
through which companies build value for stakeholders
and that involves employees, customers, investors and
other key influential partners. This results in “reputation
capital” – a highly valuable economic asset.
Reputation management can be linked through the use
of detailed analyses obtained from stakeholder opinion
surveys, content analysis of media coverage and messaging
analysis.
Risk managing communication, communicating risk management
Risk managers often deal with the concrete: how to handle
a chemical spill, a
potential pandemic or a possible product recall. They
know communication is vital to their work – yet often
they may not be alive to all the value that professional
communication could add to their work. On the other
hand, professional communicators may shy from involvement
in risk communication because they see it as often technical,
focused on complex data and calculations of probability
that potential risks will become actualised. Both fields
need to know more about the other.
Exploring the risk management and communications nexus
in reputation management
The confluence between risk management and stakeholder
communications is both compelling and rapidly gaining
recognition across industries, however, it remains less
than well understood in many organisations and is not
always supported by internal structures and communication
lines
Examining the relationship between corporate social
responsibility (CSR) and reputation risk
Employees, investors and consumers are increasingly
demanding demonstrated
responsibility on the part of corporations in the areas
of sustainability and social and environmental impact.
CSR is therefore critically linked with reputation and
must be addressed accordingly in any risk management
programme
CSRidentity.com invites you to think deeper
While it is important to think & link reputation
to business and very existence of a company, CSRidentity.com
invites you to think within.
There are two reasons why the R in our concept of CSR
is reputation
1 We believe reputation brings in more responsibility
out of corporates. Afterall, it takes years to build
reputation and every action either enhances a company's
reputation or downgrades it.
2 At a more holistic level, we want you to appreciate
that we are all borne as human beings and we have a
better faculty than other forms of life to make informed
decisions. It is therefore our responsibility to stand
by the reputation of being humans first, than as Chairman
or CEO or CFO, CSR heads ...
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