Provides a new perspective on the true nature of reputational risk and damage to organizations and traces its root causes in individual and collective human behaviour.
A company's reputation is one of its most valuable assets, and reputational risk is high on the agenda at board level and amongst regulators. Rethinking Reputational Risk explains the hidden factors which can both cause crises and tip an otherwise survivable crisis into a reputational disaster. It uses case studies such as BP's Deepwater Horizon oil spill, Volkswagen's emissions rigging scandal, Tesco, AIG, EADS Airbus A380, and Mid-Staffordshire NHS Hospital Trust.
Reputations are lost when the perception of an organization is damaged by its behaviour not meeting stakeholder expectations. Rethinking Reputational Risk lays bare the actions, inactions and local 'states of normality' that can lead to perception-changing consequences and gives readers the insight to recognize and respond to the risks to their reputations. Through case studies and analysis of failures, this hard-hitting guide also applies lessons drawn from behavioural economics to the behavioural risks that underlie reputation risk. An essential read for risk professionals, business leaders and board members who need to understand and deal with business-critical threats to their reputation, this book presents a new framework that will be invaluable for all involved in safeguarding an organization's reputation.
An exceptional book for learning at every level - whether you are a business school student or a chief executive; Prime Minister or a new recruit into the civil service.
Lord Owen CH FRCP, Former UK Foreign Secretary and author of 'The Hubris Syndrome'
The authors have examined trust in business through the lens of reputational risk and identified themes that really matter. Their well-illustrated commentary is good read for business leaders at all levels.
Dame Alison Carnwath, Company Chair, Audit Committee Chair, NED and Supervisory board member
This book is written in the riveting style worthy of a subject often overlooked. The authors' discussion of collateral damage and guilt by association was especially intriguing.
Senator Bob Graham, Co-Chairman of the National Presidential Commission on the Deepwater Horizon Disaster
The authors highlight the role of culture and conduct and of the wider responsibilities of organisations to their customers and to the public. I much endorse their recommendations to business leaders. It is instructive to see this subject handled with such conviction and clarity.
Sir Winfried Bischoff, Chairman, Financial Reporting Council
The authors show why the most valuable core competence for leaders everywhere is the ability to understand how people actually feel, think and behave, and how to manage risks from people effectively. This is just as important for government and the public sector as for private sector organisations.
Richard Bacon MP, Deputy Chairman, House of Commons Public Accounts Committee
This thoroughly enjoyable book is a must-read for leaders of all organizations at all levels, right up to the board and its leadership.
Dr Kiyoshi Kurokuwa, Chairman of the Independent Investigation Commission of Fukushima Nuclear Accident by the National Diet of Japan
I very much welcome this book as a comprehensive and insightful study into one of the most critical but often neglected aspects of risk management - reputational risk.
John Hurrell, Chief Executive of AIRMIC
Rethinking Reputational Risk is an excellent contribution to the understanding of reputation as a key indicator of the quality of a company's leadership, culture and material stakeholder relationships.
Colin Melvin, Head of Global Stewardship, Hermes Investment Management
This book will be chastening reading for company board members. Other readers will be fascinated, and also horrified, by the systematic risk-blindness of those who oversee our largest and most powerful companies.
Professor Andrew Hopkins, author of 'Risky Rewards: How company bonuses affect safety’
Anthony Fitzsimmons is Chairman of Reputability LLP and an authority and leading thinker on reputational risk and the propensity of behavioural and organizational risks to cause reputational damage. With insights gained from the ringside view of the crisis lawyer, coupled with the extensive experience of his partners, the Reputability team helps organizations and their leaders to find, see and deal with these risks.
Derek Atkins BSc PhD MIMMM CEng FCIM FCII Chartered Insurer is a visiting Professor at the Cass Business School, teaching risk management, reputational risk, and insurance, and a partner in Reputability LLP. He is co-author of a dozen books including 'Roads to Ruin', the seminal Cass Business School report for Airmic and the Chartered Insurance Institute text book Insurance Corporate Management.
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