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The Business Ethics Twin-Track: Combining Controls and Culture to Minimise Reputational Risk by Steve Giles

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Chapter FourReputation, risk and conduct

REPUTATIONAL RISK: THIRD WORKSHOP

Opening

I arrive early for this morning's workshop, the third in the series as part of Stronach's ethics project. Today we will be looking at aspects of reputation and in particular how corporate reputation can be affected by the ways managers and staff behave and conduct themselves. These are important subjects – by analysing them, my aim is to help the ethics team to improve Stronach's existing compliance and controls framework so that the board has greater assurance that reputational risk is being managed in the most appropriate way for their business.

Agenda

I welcome everyone as they come in. We have a lot to cover today and so I quickly take the team through the agenda over coffee. The workshop will be divided broadly into four sections, as follows:

  • First of all we will look at corporate reputation, including the components that are most important to the idea of a ‘brand’ and focus, through examples, on the reasons for reputational damage.
  • We will then re-visit the Siemens example. This time we will change the focus and look at the measures that Siemens had to put in place in order to repair the damage to its reputation brought about by the corruption scandal that we looked at in the previous workshop.
  • Third, we will consider behaviour. Specifically, the various threats from what I term ‘people risk’ – those attitudes, actions and behaviours of people within an organisation that can cause harm ...

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