By Leonard J. Ponzi, Ph.D. - Managing Partner, ReputationInc
& Andrea Bonime-Blanc, JD/Ph.D. - CEO and Founder, GEC Risk Advisory
In Part I of our article, we explored what reputation risk is and what it isn't – for example, it is risk management but it isn't crisis management. We believe reputation risk describes the threats to a company’s financial health and organizational resilience and sustainability. Our view is that reputation management is a system aimed at managing the possibility of reputation failures and that reputation risk management done right is a system that mitigates reputation risk and builds long-term organizational resilience.
In this second part of our two-part article, we explore the issue of why reputation risk management needs to be part and parcel of an organization’s strategic agenda – whether a corporation, a non-profit, a government agency or a university.
We also delve into the critical importance of knowing who your principal stakeholders are and why they are important. We conclude with a call to arms on the need for a combined qualitative and quantitative perspective on reputation risk – one of the most challenging strategic risks of them all and something that we are developing together and joined forces on.
For more information, please find the download link for the full report on the right-hand side.