Reputation

Insights

Reputation

‘It takes 20 years to build a reputation and 5 minutes to ruin it and if you understand this you will do things differently’. – Warren Buffett (Chairman, CEO and largest shareholder at Berkshire Hathaway)

5 Essential Truths 

  • Reputation problems have the biggest impact on revenue and brand value.
  • Reputation risk is the number one strategic business risk.
  • Customers are the most important stakeholders for managing reputation risk.
  • Companies are investing to improve their capabilities for managing reputation risk.
  • Reputation risk is driven by a wide range of other business risks that must all be actively managed.

5 Immediate Check Points 

  1. Do you link strategy and innovation with risk management programs to identify potential disruption hotspots?
  2. Are you analysing both internal and external data to gather and help interpret market intelligence?
  3. Are your organisational leaders prepared to respond and recover in the event of a reputational event as part of your business continuity plans?
  4. Do you live your brand through creating a risk intelligent organisation? 
  5. Do you understand stakeholders and their expectations – and realise that those expectations tend to evolve over time?
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