Reputation Risk — A Rising C-Suite Imperative
Company reputations are in the spotlight like never before. Recent years have witnessed an explosion of social media commentary, strong interventions by regulators, and high-profile pressure group campaigns. At the same time, changes in the global economy have arguably made the risk landscape for businesses more complex — dependent on moves into new markets, longer supply chains, higher-risk operations, and increased pressure on costs.
Against this backdrop, companies need to re-examine their exposure to reputational challenges and their ability to respond to potential crises. The best management frameworks are embedded long in advance of any crisis and approach reputational risk from multiple perspectives to identify both vulnerabilities and solutions. They are, moreover, led from the very top of the company and driven through the business units and functions. Without a strong framework, events can quickly spiral out of control and have far-reaching consequences for companies and their leadership.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
Why Reputation Risk Is Important
What Determines Impact
How Potential Impacts Can Be Mitigated
Ownership and Responsibility