By Garry Honey
Attractiveness danger is a subject with relevance around the service provider, from possibility managers to company verbal exchange managers, from compliance supervisor to HR Director. no matter what your curiosity within the topic, a quick consultant to acceptance chance offers a shorthand path to realizing the context and key gains of this topic. the character and price of attractiveness -- The motives and impression of attractiveness probability -- settling on stakeholders and possibility drivers -- identifying instruments and controls -- Assigning accountability -- Integrating recognition hazard -- Governance and compliance -- Case stories
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Additional info for A short guide to reputation risk
Summary Stakeholder identification and appreciation is essential for reputation management. Primary stakeholders are vital components of the organisation without whom it would cease to function: investors, employees, customers and suppliers. Secondary stakeholders are no less important but the loss of any one or the addition of a substitute is not business critical. The drivers of reputation are the metrics by which stakeholders evaluate the organisation and thus determine its value to them. For investors it will be financial performance whereas for employees it will be workplace conditions and opportunities for advancement.
I shall explain four below, although I find that clients like to specify their own list when conducting research. The most famous was created by Charles Fombrun in 1995 for his Reputation Institute in the US. 3). The Reputation Quotient has been refined over the years and it is worth checking the latest ranking system as set out in Fame and Fortune: How Successful Companies Build Winning Reputations by Fombrun & Van Riel (2006). The Reputation Quotient gives an aggregate rank score for each corporation in an annual survey.
The same is true of a divestment or sale of a business unit to a buyer who will cease to be a stakeholder once the transaction is completed. The universe of relevant stakeholders is a moveable feast and is one good reason why stakeholder identification should be part of the cycle of good management practice. Risk Drivers There is some debate as to whether reputation is a driver or an output and there is a good case for each. As a driver, it has an influence on relationships and thus a good reputation has a positive benefit as an endorser.
A short guide to reputation risk by Garry Honey