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Reputation Management In A Crisis

 

Last week, we discussed the importance of reputation management and how risky it can be. Controlling public perception is always important, but it is absolutely crucial in a crisis situation. When something goes wrong in your organization, managing public perception will prevent a simple mistake from becoming catastrophic. Key sectors for crisis management include ethics, quality, safety, and security.

Topics: planning for a crisis reputation risk reputation risk management crisis management plan crisis risk management

6 Ways to Manage Reputational Risk

 

Every organization, no matter the structure, nature of operations, or size, has reputational risk. All risks are significant in and of themselves, but resulting reputation damage can be even more catastrophic, as a reputation is one of a company’s biggest assets. Sometimes all it takes is a rumour to make the public lose confidence in an organization, ending it quite quickly. As Warren Buffet said, “it takes 20 years to build a reputation, and five minutes to ruin it”.

Topics: reputation risk reputation risk management companies reputation importance of a reputation reputation planning

4 Reputation Risk Management Lessons from the Shell Social Media Hoax

A company's reputation is its most valuable asset. With rapid advancements in technology and social media, managing reputation risk is difficult, but crucial.

Because of the ease of communication and global reach due largely to social media, we have an increasingly uncensored view of not only how businesses operate, but also how they interact with customers, shareholders, and employees. For better or worse, this transparency creates an open forum for sharing information, experiences, and opinions. The reach and impact of these open forums demand participation and careful management of brand perception by all customer-facing businesses; 43% of all online consumers follow or are a fan of a brand, making it essential for companies to manage reputation risk. 

Topics: reputation risk management social media risk

How to Reduce Social Media Risk in Your Company: A LinkedIn Discussion

The risk involved with social media is not a new topic. In fact, we talked about it last year in our blog post Social Media Policy: Avoiding a Death-Blow! This is still a relevant topic; with the popularity of social media ever increasing, businesses must prepare for the risks that come along with the opportunities that social media provides.

Topics: social media policy reputation risk management social media risk management social media risk

BP found its “Company Killer”: Do you know yours?

Time will tell if the Gulf of Mexico oil spill will kill BP or just severely cripple it, but whatever the case I’ll bet they didn’t see it coming! Will you?

It looks like this spill will be (if it isn’t already) the biggest man-made disaster ever. The extent of the spill, the scope of damage and the resulting impacts on the environment, marine life, economies, and people remains to be seen, but catastrophic sums it up. BP and all of the other world’s oil companies plan for spills. They build complex risk models, examine alternative worst case scenarios, look at maximum probable losses, and they are generally very good at measuring and managing risk. But what if the worst case scenario that you imagined turns out to be wrong?

Topics: reputation risk oil and gas risk reputation risk management company killer risk

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