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Rethinking Reputational Risk: How to Manage the Risks that can Ruin Your Business, Your Reputation and You
A company's reputation is one of its most valuable assets, and reputational risk is high on the agenda at board level and amongst regulators. Rethinking Reputational Risk explains the hidden factors which can both cause crises and tip an otherwise survivable crisis into a reputational disaster.
Reputations are lost when the perception of an organization is damaged by its behaviour not meeting stakeholder expectations. Rethinking Reputational Risk lays bare the actions, inactions and local 'states of normality' that can lead to perception-changing consequences and gives readers the insight to recognize and respond to the risks to their reputations. Using case studies, such as BP's Deepwater Horizon oil spill, Volkswagen's emissions rigging scandal, Tesco, AIG, EADS Airbus A380, and Mid-Staffordshire NHS Hospital Trust, and analysis of their failures, this hard-hitting guide also applies lessons drawn from behavioural economics to the behavioural risks that underlie reputation risk.
An essential read for risk professionals, business leaders and board members who need to understand and deal with business-critical threats to their reputation, this book presents a new framework that will be invaluable for all involved in safeguarding an organization's reputation.
Reputations are lost when the perception of an organization is damaged by its behaviour not meeting stakeholder expectations. Rethinking Reputational Risk lays bare the actions, inactions and local 'states of normality' that can lead to perception-changing consequences and gives readers the insight to recognize and respond to the risks to their reputations. Using case studies, such as BP's Deepwater Horizon oil spill, Volkswagen's emissions rigging scandal, Tesco, AIG, EADS Airbus A380, and Mid-Staffordshire NHS Hospital Trust, and analysis of their failures, this hard-hitting guide also applies lessons drawn from behavioural economics to the behavioural risks that underlie reputation risk.
An essential read for risk professionals, business leaders and board members who need to understand and deal with business-critical threats to their reputation, this book presents a new framework that will be invaluable for all involved in safeguarding an organization's reputation.
- GenresNonfiction
336 pages, Paperback
Published January 31, 2017
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Displaying 1 of 1 review
February 14, 2017
It seems clear that it is very easy to damage your company’s reputation, often through inadvertent activities or just a lack of care, yet far too many do exactly that! A book that guides you through managing and mitigating this risk is surely a good thing, if you think about it.
Now, the authors have done a good job in corralling their thoughts, underlining the importance of reputation and managing it. This is not a “do-it-yourself PR guide” although you stand to gain a fair few good tips. Instead it looks at maintaining the status quo and getting you to think about things that can possibly ruin your company’s “good” name. Mixing practical advice with real-world case studies, you really get an expert-level look at a very important subject. Of course, even the biggest and best companies can drop the ball, often through unexpected or hidden factors, so surely it is better to learn from the mistakes of others, rather than be a public guinea pig yourself?
Some of the potential risk can be managed or mitigated, but you can never rule it out entirely. An innocent (or not-so-innocent) spark may be just enough to create a powerful explosion.
Whilst the book is great and useful throughout, perhaps the most helpful part could be the help to develop a practical, risk-management based approach to a company’s reputation, elevating it far beyond a mere checklist and rules-heavy approach. A range of core principles, built around a practical and manageable structure, should provide a useful, challenging and actionable method to keep your company’s reputation and the risks that it could face, in the foreground.
If there is any criticism, perhaps the book makes the process look easier than it really is. There is no room for complacency and you do not want to drop your guard. Keep this book close at hand, digest intensely and ensure that colleagues are similarly focussing on the same matters. It could be one of the more important books that you consider, since the consequences for getting it wrong can be extremely far reaching and even terminal in some cases.
A highly recommended book. It is very complex and detailed, even overwhelming at times, but an essential, focussed and engaging book nonetheless.
Now, the authors have done a good job in corralling their thoughts, underlining the importance of reputation and managing it. This is not a “do-it-yourself PR guide” although you stand to gain a fair few good tips. Instead it looks at maintaining the status quo and getting you to think about things that can possibly ruin your company’s “good” name. Mixing practical advice with real-world case studies, you really get an expert-level look at a very important subject. Of course, even the biggest and best companies can drop the ball, often through unexpected or hidden factors, so surely it is better to learn from the mistakes of others, rather than be a public guinea pig yourself?
Some of the potential risk can be managed or mitigated, but you can never rule it out entirely. An innocent (or not-so-innocent) spark may be just enough to create a powerful explosion.
Whilst the book is great and useful throughout, perhaps the most helpful part could be the help to develop a practical, risk-management based approach to a company’s reputation, elevating it far beyond a mere checklist and rules-heavy approach. A range of core principles, built around a practical and manageable structure, should provide a useful, challenging and actionable method to keep your company’s reputation and the risks that it could face, in the foreground.
If there is any criticism, perhaps the book makes the process look easier than it really is. There is no room for complacency and you do not want to drop your guard. Keep this book close at hand, digest intensely and ensure that colleagues are similarly focussing on the same matters. It could be one of the more important books that you consider, since the consequences for getting it wrong can be extremely far reaching and even terminal in some cases.
A highly recommended book. It is very complex and detailed, even overwhelming at times, but an essential, focussed and engaging book nonetheless.
Displaying 1 of 1 review