Managing Reputation Risk Online and Off

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March 19, 2009

Managing Reputation Risk Online and Off

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The Conference Board Reputation Risk Research Working Group issued a new report on Reputation Risk. They concluded from the working group and a survey among 148 large company risk management executives that risk management needs to be better integrated into the enterprise risk management (ERM) function. Only about one-half (49%) highly integrate the two.  The report provides insights into how some companies are measuring reputation risk and new tools that deliver on this need. Reputation Institute and Evolve24 are both cited. One of the findings that parallels ours is that social media is gaining traction in the corner suite but many executives are overlooking its risks.  According to the Conference Board report, only 34% of respondents stated that they extensively monitor social networking sites and an even fewer 10% actively participate. As I have said, the good news is that executives are no longer asking their assistants to print out their emails to read but they still have far to go in terms of understanding the new media and making it work for their companies in identifying opportunity and yes, early warning signs.

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Leslie Gaines-Ross
Leslie Gaines-Ross
lesliegainesross@gmail.com

As Weber Shandwick’s Chief Reputation Strategist, I focus on the ever changing world of reputation. For the past 25 years, I have relentlessly observed, researched and commented on the rise and fall of reputations.

1Comment
  • Online Reputation
    Posted at 14:56h, 22 March Reply

    You are absolutely right in that more executives and brands as a whole need start monitoring the Social Networks web to find out what is really being said about their brand. I read somewhere that 1 in 50 people in the world is now on facebook, imagine the potential for good or bad feedback to spread rapidly to 1 out of every 50 people.

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