By Garry Honey
Attractiveness possibility is a subject with relevance around the supplier, from chance managers to company verbal exchange managers, from compliance supervisor to HR Director. no matter what your curiosity within the topic, a brief advisor to recognition danger offers a shorthand path to figuring out the context and key positive factors of this topic. the character and price of popularity -- The explanations and influence of acceptance possibility -- selecting stakeholders and hazard drivers -- choosing instruments and controls -- Assigning accountability -- Integrating acceptance probability -- Governance and compliance -- Case experiences
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Additional info for A short guide to reputation risk
55 5 A Short Guide to Reputation Risk Strategic risk is rarely reported and there are two main reasons. Strategic risks cannot be quantified by impact or probability and cannot be assigned to a single individual. They are typically excluded from scrutiny by the risk committee which tends to have an operational function. They should be addressed by the board but too often there is little time or appetite for deep discussion on strategic risk. The second reason is that where strategic risk is acknowledged there can be a reluctance to report it for fear of its value to a competitor or the negative message it might send to investors; strategy is about future direction and any uncertainty must not be expressed outside the boardroom.
5 Risks and their related stakeholder groups 47 4 A Short Guide to Reputation Risk 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.
Most people consider risk as a threat when they talk of reputation risk. Measuring reputation risk is thus an exercise in gap analysis, the challenge is to find a currency for indexing stakeholder expectation, which has both meaning in itself and as a comparator, with corporate performance. Performance is often expressed financially but it is anticipated behaviour we 30 Identifying Stakeholders and Risk Drivers 3 should measure and this is not always financial. Measuring expectation among any stakeholder group requires an understanding of stakeholder attitudes and the relationship each group has with your organisation.