A new white paper by Deloitte developed in collaboration with RiiЯ Ltd entitled ‘A Risk Intelligent view of reputation – An outside-in perspective’ has once again highlighted the strategic importance of reputational risk.
The report highlights the fact that Reputational Risk is now regarded globally as a “meta risk, “standing at the forefront of key strategic and operations concerns, right alongside new competition, technology failures, talent issues, and changing regulations.
As executives in the study recognized, reputation, quite simply, can make — or break — a company. Reputation is an important factor across all four major risk areas of the Risk Intelligent Enterprise — strategic, operational, financial, and compliance — particularly of the former two, strategy and operations, because it is a constantly evolving and fully embedded part of why and how the company achieves its objectives.
This catapults reputational risk to what the writers call a meta risk, or a potential menace to fundamental business strategy, and possibly an even greater hazard to organizational survival than a financial restatement or problematical findings in a compliance report.
In the report, which makes for highly recommended reading; a three-step process of managing reputational risk is recommended including internal discovery, analysis of stakeholders and marketplace threats and opportunities, and proactive management of actions designed to protect and enhance reputation and value.
Download Report – http://bit.ly/ph6omX
In this respect, I offer two dedicated training programs focusing on Reputational Risk and Stakeholder Reputation.
These 2 – day training programs are facilitated in-house depending on client needs and requirements or presented in the public environment, as follows:
Reputation Risk Management Master Class
Stakeholder Reputation Management Master Class
Should you be interested to attend any of these programs, please register online and I will do the necessary or e-mail deon@deonbinneman.com for a registration form.