A Short Guide to Reputation Risk (Short Guides to Risk) by Garry Honey

By Garry Honey

There are all kinds of difficulties linked to attractiveness threat. Many enterprises locate that it does not healthy smartly inside operational probability; others fight to allocate accountability for it or to discover methods of reporting successfully. probably the largest challenge of all is that enterprises usually confuse popularity chance with acceptance management...that is assuming they comprehend the concept that in any respect. Garry Honey's "A brief advisor to acceptance danger" deals an answer to those difficulties in a concise and direct booklet for board administrators and chance managers. utilizing a few easy versions, he: explains recognition hazard; differentiates it from other kinds of probability; offers a chain of instruments for picking, measuring and dealing with acceptance chance; is helping you assign accountability for attractiveness possibility on your administration constitution; and, indicates the best way to combine it along with your organisation's approach, your wider danger administration procedure in addition to your compliance and governance buildings. recognition probability is a subject with relevance around the supplier, from danger managers to company communique managers, from compliance supervisor to HR Director. no matter what your curiosity within the topic, "A brief advisor to popularity probability" offers a shorthand path to knowing the context and key positive aspects of this topic.

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5 Risks and their related stakeholder groups 47 4 A Sh o r t Gu id e t o R epu t at io n R isk stakeholder group A is affected by all the risks A to E and thus reputation with this group is likely to be critical. In the case of the risk identified as Risk C it appears that this risk is relevant to all stakeholder groups, although much depends on the nature of this risk, it is likely that there is a strong reputational element to it as it impacts so many different stakeholder groups. This type of analysis is particularly helpful as it builds on information already gathered and assessed by the risk control function.

Think of employee relations, human capital and people risk. These have two sub-categories, executive and operations, both of which are normally fully accounted for under the remit of internal audit or risk management teams within any organisation. Failure at either level can usually be traced to failure of quality process or internal vigilance. 21 2 A Sh o r t Gu id e t o R epu t at io n R isk Executive risk is expressed as the quality of decision making by the board or management team. Any shortfall in performance can usually be dealt with by shareholders or institutional investors through changing Chair or CEO with the remit to shake up the team.

Determine how often you would want to follow up and verify this information, for example, monthly, 50 Sel ect in g T o o l s an d Co n t r o l s 4 half yearly or annually and how best this repeat operation might be conducted, for example, by panel, focus group and so on. St age 2 Ensure that the monitoring of diverse stakeholder attitudes and expectations is recorded and reported to the board frequently. It is important to know how any behaviour or performance will be received. Anticipation is a prudent act of proactive planning.

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