Reputational Risk: A Question of Trust
Global Professional Publishi, 2006 - Business & Economics - 146 pages
* Published in association with the Risk Management Association of the USA (RMA), the Association of Insurance and Risk Managers (AIRMIC), and the Institute of Risk Management (IRM),
* Will stimulate the thinking of executives and leave them wanting to do something about it (and give them the means to start)
* A topical, and increasingly important, issue reflected in recent scandals (Enron, Marconi), government responses (e.g. the Combined Code in the UK), and the continuing growth in consumerism
An organization's own reputation is a valuable asset that is often insufficiently managed, if it is managed at all. This book not only outlines its importance, but it presents a new and insightful definition of the risk and proposes an approach for managing it properly. For the first time, a whole range of current issues (scandals and frauds, government legislation on risk management and reporting, the growth of consumerism, etc.) is targeted in a single logical argument on how to deal with it.
Aimed at directors and senior executives, professional risk managers, consultants and professional risk advisers, and students in advanced courses.
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The importance of corporate reputation
Managing corporate performance and behaviour
A next step A new reputational risk management process
Lessons from real life
Developing a code of ethicsethical best practice
Making it happen Practical considerations in implementing the reputational risk management process
Example of an active risk management approach from reputational risk consultants Brotzen Mayne
Example of a reputational risk management process FTSE 100 company
Managing reputation in a crisis
Extract from A Code of Ethics on International Business for Christians Muslims and Jews 15
actions approach areas assessment assets auditors balanced scorecard brand bull market Calisto Tanzi causes of reputational causes of risk challenge Citigroup Coca Cola Company Law company's reputation complex compliance consultants corporate behaviour corporate governance corporate reputation corporate social responsibility crisis culture customers decision directors effective employees Enron ensure environmental ethical best practice failure financial performance global identified impact implemented important incident intangible interest internal investors involved issues Joel Bakan long-term major manage reputational risk measures meet stakeholders monitor NGOs non-financial operational organisation organisation's reputation Parmalat performance and behaviour potential causes problem protect regulators relationship reporting reputational damage reputational equity reputational risk management reserves responsibility result risk management activity risk management process senior executive Shell short-term significant staff stakeholder expectations stakeholder groups stakeholder model standards strategic objectives suppliers term understanding Unilever ValuJet ValuJet flight 592