HOW CAN REPUTATION BE DAMAGED?
The stakes for not getting it right are high. In a recent survey by Aon,3 reputation was number 2 of the Top 10 risks. Because it is an intangible, rather like goodwill, it does not get management attention as it should. In a 2018 survey of CEOs by Deloitte, only 42% have discussed risks to the firm’s reputation in the past year.
Some of the problems which arise if reputational issues are poorly handled are given in Table 15.3.
Table 15.3 Reputational problems and poor handling issues
Reputational problems |
Examples of poor problem handling |
|---|---|
Difficulty in raising capital Losing key employees Losing suppliers and customers An inability to access new markets Litigation and more intrusive regulation |
Poor ... |
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