Reputational risk management is integral to your company's success
STAKEHOLDER ADVISORY SERVICES, LLC helps clients leverage the insights of stakeholders to understand, manage and monitor their reputational risk. We are dedicated to helping organizations address reputational risk in order to maximize their potential for business strategy success and sustainability.
Stakeholder Advisory Services’ E-RRM™ augments your Enterprise Risk Management (ERM) efforts to specifically address reputational riskAlthough reputation is considered to be a core risk and is embedded within the ERM framework, reputation risk assessment is an insufficiently developed and under-leveraged facet of ERM today. Current approaches to addressing reputational risk are generally not integrated with the ERM process at the board level, but rather are managed through public relations or marketing initiatives. When reputational risk is considered at the board level with a 360° understanding of stakeholder perceptions, the organization can take measures to strategically manage its reputational risk strategically.
Our proprietary Enterprise-Reputation Risk Management™ (E-RRM™) approach embodies three key tenets
- Reputation results from the aggregate perceptions of an organization’s behavior
- Industry-specific behaviors are key for measuring reputational excellence
- 360° stakeholder assessment is the only approach that provides a composite view of reputational risk
Our Enterprise-Reputation Risk Management™ (E-RRM™) approach
- Is directed by the board and senior management
- Is industry-specific
- Integrates with existing ERM efforts
- Is a disciplined business approach to understand and manage reputational risk
- Identifies critical reputational risk characteristics
- Assesses reputational risks or gaps, as well as opportunities '
- Compares corporate behaviors with internal and external stakeholder expectations
- Measures and monitors progress as a result of focused effort
- Informs the strategic change planning process
- Ties to business strategy and outcomes
Managing reputational risk enhances your business in many ways
- Attracting, aligning and retaining employee talent and partners
- Fostering better long-term relationships with customers
- Improving community relations and support
- Enhancing partner and vendor leverage for improved competitive position
For more information about how E-RRM™ can help your organization address reputational risk, please contact us.