From a risk oversight standpoint, crisis management is an integral component of effective reputation management. Rapid and effective response to sudden, unexpected events can enhance reputation. Effective identification and management of risk can reveal major threats to reputation and ensure they are reduced to an acceptable level.
While reputation is hard to define in terms of exactly what it is, everyone agrees it’s important and recognizes a reputation that has been damaged beyond repair. In this issue of Board Perspectives: Risk Oversight, we explain how a company’s reputation management is inextricably linked to its risk management and crisis management.