Trust is one of the most valuable assets for both companies and institutions. Loss of reputation is one of the biggest threats to the future of most companies and organizations. It is probably the most difficult threat to quantify. What takes several years to build can be wiped out in a single day or even an instant. Gone will be consumer trust, investor confidence, brand strength by any number of different sources: a deliberate disregard for the rules for short term profit; a simple change in the environment in which one operates that alters a standard of acceptable of behaviour; a system error or an innocent human error.
Managing your company’s reputation is a must. Protecting and enhancing corporate reputation has become one of the most important and difficult tasks you can face. The majority of real risk arises not because of “fortuitous events” but because of things that are well within the organization’s control.
This past decade, priorities have shifted dramatically due to corporate and institutional scandals and political climate. Recent corporate scandals, executive fraud and misconduct have forced businesses to explicitly manage reputational risk as either a component of operational, regulatory, or as a stand-alone risk. The definition of roles, responsibilities, accountabilities and liabilities have been drastically changed and reshaped. This publication will give you the latest information and the most effective strategies on key issues including:
- How to balance the interplay between compliance and managing reputational risk
- Tips on creating a robust code of conduct to meet your organization’s needs while building a culture of legal and reputational compliance
- Meeting your privacy obligations to reduce your organization’s reputational risk
- Strategies for defending your organizational reputation during a crisis
- Implementing an effective fraud program
- Learning how to address the link between reputational risk management and increased corporate investment