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”.
