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closeA risk is produced as a consequence of a deception, a disappointment in expectations or a lack of transparency, because the brand promise is not present in operations. For this reason, companies need to measure these risks, monitor their reputtion and use a good scorecard in decision making.
Not correlating the operation and the business with the management of reputation, on the one hand, is the best way of not optimizing it, even creating the conditions or laying the foundations which lead to a reputational crisis, a damage to the reputation of the company. Not measuring the risks, on the other hand, is to risk reputation, to risk losing it and to risk disappearing. Because of that, companies should not forget this aspect and integrate Reputation Management in their business models.
Document prepared by the Corporate Excellence – Centre for Reputation Leadership with reference to, among other sources, the intervention of Alberto Andreu (Director of Reputation, Identity and Sustainability at Telefonica) and Jose Carlos Martinez Lozoya (Corporate Reputation Manager at Iberdrola) during the sessions of the Corporate Reputation Program organized by the Corporate Reputation Forum and the Instituto de Empresa Business School in Madrid in January-February 2011.
