As the world become more and more networked, more and more companies are exposed to a changing set of vulnerabilities. The landscape of risk has changed. No longer can any country or organisation ignore the happenings of 911, Enron, and countless scandals facing organisations.
In this new world, incidents can damage a good reputation purely because an organisation can take to long to act decisively with problems. For instance a reputation damaging incident can become international news in a matter of seconds and destroy relationships and brand value in other countries where the incident did not even take place.
I chose the word Insulation as it has lessons for organisations wanting to protect themselves against reputation damage.
The word “insulation” means to protect. It is the act of insulating or the state of being insulated. It is the act of protecting something by surrounding it with material that reduces or prevents the transmission of sound or heat or electricity – a material or substance used in insulating: soundproof cork insulation; a layer of trapped air that serves as insulation.
Working towards protecting your organisation is the act of insulating. By reducing or preventing the transmission of wrong messages, incorrect actions and “flow” we can protect against Reputation Risk. By creating goodwill through our positive actions we can insulate against future mishaps.
This blog is aimed at Business Leaders and Executives especially Reputation managers, PR professionals, Risk managers, Crisis Managers and Corporate Affairs executives. It will empower readers with knowledge, tools and techniques through which they can enhance and protect their organisation’s most fragile asset and its greatest risk – its reputation.
It is my aim to make management realise why damage to Reputation is the number one risk organisations face worldwide and to assist them to design and implement robust reputation risk management frameworks that will protect against the destruction of this asset.