Reputation and risk management

There is a clear trend. Public opinion surveys and market research confirm that people are increasingly making economic decisions - as consumers, investors and employees - that take account of their social and environmental concerns.

A good reputation is slow to build but can be damaged overnight. So while organisations are wise to take action that enhances their reputation, their first need is to try to eliminate practices that could harm their reputation. To do this they need to know where they are vulnerable and ensure appropriate controls are put in place.

Risk management used to be thought of primarily in financial terms. That view has broadened as it is now accepted that corporate risks concern a wide spectrum of social, ethical and environmental issues, as well as financial. There is consequently a risk to organisations' reputation and to wider stakeholders' interests. These risks are increasingly the subject of regulation in terms of how they are identified, measured and reported on to shareholders and other interested parties. Today's managers need to understand reputational risks to the company and impacts on stakeholders associated with such matters as:

• health and safety
• environment
• human rights
• ethical conduct

Conduct Becoming offers a comprehensive risk-management service that:

• identifies where the greatest social, ethical and environmental risks lie for the organisation
• ensures that all risks are properly understood and evaluated
• creates systems to identify and evaluate key risks, including their scale and nature
• designs systems to control and manage these risks.

For more information, please Email us or telephone 01252 792322.