By Garry Honey
There are every kind of difficulties linked to recognition possibility. Many organizations locate that it does not healthy smartly inside operational chance; others fight to allocate accountability for it or to discover methods of reporting successfully. maybe the most important challenge of all is that enterprises frequently confuse attractiveness hazard with recognition management...that is assuming they comprehend the concept that in any respect. Garry Honey's "A brief consultant to attractiveness chance" deals an answer to those difficulties in a concise and direct e-book for board administrators and threat managers. utilizing a couple of uncomplicated versions, he: explains acceptance threat; differentiates it from other kinds of danger; offers a chain of instruments for selecting, measuring and dealing with attractiveness probability; is helping you assign accountability for attractiveness chance on your administration constitution; and, exhibits the way to combine it along with your organisation's procedure, your wider threat administration technique in addition to your compliance and governance buildings. popularity chance is a subject with relevance around the business enterprise, from danger managers to company conversation managers, from compliance supervisor to HR Director. no matter what your curiosity within the topic, "A brief consultant to attractiveness threat" presents a shorthand path to figuring out the context and key good points of this topic.
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Additional info for A Short Guide to Reputation Risk (Short Guides to Risk)
It is not sufficient to engage only with amenable and affable groups, the frosty and hostile ones must also be included. R isk r egist er It is possible to put reputation risk on the company risk register. Exactly how this is recorded should reflect how easy or difficult it is judged to be to recover trust after an event. Where trust recovery is easy there is low risk and where it is very hard there is high risk. This is not about money or 51 4 A Sh o r t Gu id e t o R epu t at io n R isk seniority, it is about trust recovery.
It soon becomes clear that failure to ‘perform’ in key categories represents a higher risk to reputation among certain stakeholder groups compared to others. The dark circles indicate business critical performance areas, that is, ‘must have’ boxes, whereas the pale circles indicate where performance is expected but less critical, that is, ‘nice-to-have’ boxes. This can help focus stakeholder research and ensure that any survey of attitudes probes for expectation in business critical areas for each relevant stakeholder group.
Natural hazards such as fire and flood usually cause less reputation damage than actual physical damage. Customers and suppliers are usually sympathetic to a business hit by fire or flood (unless of course the cause is believed to be negligence). The financial damage of a flood or fire can be 22 T h e Cau ses an d Impact o f R epu t at io n R isk 2 covered by insurance but the reputation damage from closure is more difficult to cover. The risk to reputation from association with a supplier or partner whose actions can damage your organisation is dramatically but correctly termed ‘contamination risk’.