Prepare for a crisis while creating enduring value
Mike Robitaille, a Risk Advisory partner, talks about the importance of brand and reputational resilience, and how a business can fortify its resilience before a crisis occurs.
While many organizations are good at building their brand, they fail to apply the same level of discipline to managing their reputation. This may be due to several factors. Managing reputational risk often doesn’t fit neatly into a single function, which can lead to ambiguous lines of ownership and accountability. There may be insufficient understanding of the sources of reputational risk, how to manage those risks, or what the full impact of a reputational crisis could be. In addition, there may be cultural resistance to the behavioural changes needed to handle reputational risk more effectively.
There are opportunities in good reputation management. It can give an edge to organizations looking to get ahead in this competitive and dynamic marketplace, in their day-to-day activities as well as in times of trouble. Those that create a organization-wide approach to reputation management—who adopt new risk-sensing tools and capabilities—will increase their reputational resilience and harness it to drive their corporate strategies forward.
Building an organization that’s ready for tomorrow goes beyond the traditional definition of enduring business success. It unites purpose and passion, two elements that are now considered vital for the social landscape. And it believes people are integral to organizational success.
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Resilient organizations don’t just survive—they thrive in an unpredictable world. They take on new challenges with confidence. Have the ability to adapt rapidly to changing markets, new threats, and disruptive competition.