By Garry Honey
Recognition chance is a subject with relevance around the enterprise, from threat managers to company conversation managers, from compliance supervisor to HR Director. no matter what your curiosity within the topic, a quick consultant to popularity probability presents a shorthand path to figuring out the context and key gains of this topic. the character and price of popularity -- The reasons and effect of acceptance possibility -- determining stakeholders and chance drivers -- settling on instruments and controls -- Assigning accountability -- Integrating recognition threat -- Governance and compliance -- Case experiences
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Extra info for A short guide to reputation risk
We may think we can spot the next Enron or Barings but in reality the legal boundaries are subject to interpretation, for example, the difference between tax avoidance and evasion. In the same way as banks encouraged complex investment vehicles to create wealth, so too the accountancy firms encourage clients to minimise tax liability to retain wealth. Manage Some risk has to be managed because it cannot be outsourced or transferred to a third party, it is inherent within the operation of the organisation.
Emotional connections Consumer perception of value; stakeholder alignment Leadership, vision and desire Governance style and practice; motivation and vision Quality Product or service delivery history; consistency Financial credibility History of creating better than average returns Social credibility Good citizenship, licence to operate etc. 4 Arlo Brady’s categories of risk There are two other risk driver analyses worth mentioning; one from Henley Management College and one from the Centre for Stakeholding and Sustainable Enterprise (CSSE) at Kingston University.
In this case the risk is an opportunity as opposed to a threat. The gap harbours the risk but the level of stakeholder expectation determines whether this risk is a threat or an opportunity. 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.