Reputation risk management on the rise

Corporate reputations have never been more valuable or vulnerable. Recent scandals, new concerns about sustainability, global supply chains that multiply risk and social media that carry bad news at the click of a mouse are all elements of the new risk environment. However, the very same factors that add to reputation risk — social media, globalization and customers who care about social responsibility — can, if managed appropriately, help companies build a resilient reputation. More companies are starting to manage reputation risk proactively. In a recent survey of 131 companies by the Conference Board Reputation Risk Research Working Group, 81% of respondents said they have increased their attention to this area over the past three years, and 63% expect their spending on reputation risk to increase over the next three. (Read the article Reputation risk management on the rise in the August 2009 issue of CAmagazine.)