Defining and managing reputation risk

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Appendix 2: Reputational risk dimensions and critical stakeholders The framework below demonstrates the relationship between the seven dimensions of reputation and the different groups of stakeholders, whose perceptions govern the reputation of an organisation. As detailed in Section 2 of the guide, individual stakeholders will have specific concerns depending on the purpose and output of the organisation. Airmic has populated the first matrix based on a generic organisation, using a red, amber and green colour-coding system to identify the type of action that should be taken for each relationship. Members can consider the relationships between the seven dimensions and their own stakeholders to populate their own version of the chart, and therefore to prioritise areas for risk management and control. Red: Controlling the reputational risk for this dimension / stakeholder relationship should be a management priority and impact analysis should be considered. Potential for significant financial consequences if the perception of this stakeholder is significantly reduced. Amber: Management attention is required. Controlling the reputational risk for this dimension / stakeholder relationship should focus on readiness and response to risk events. Green: Low priority relationship. Organisation should focus on monitoring the relationship between stakeholder perception and reputation dimension over the long term. Legend Stakeholder Priority Reputation dimension Customers Communities and the general public Attention Required Products / Services Lower Priority Innovation Workplace Governance Citizenship Leadership Performance 30 Airmic Technical
Leadership Well organized Appealing leader Excellent managers Clear vision for its future Citizenship Performance Environmentally responsible Positive influence on society Supports good causes High quality Profitable Value for money Strong growth prospects Stands behind products Better results than expected Meets customer needs FEELING ESTEEM TRUST Fair in business Behaves ethically Open and transparent Products/Services ADMIRE Innovative First to market Adapts quickly Offers equal opportunities Rewards employees fairly Employee well-being Workplace Innovation The Reputation Institute RepTrak® framework Building a strong reputation requires delivering on each dimension. If an organisation is perceived to be delivering on each of the seven dimensions by its stakeholders, the increased trust and support will build a strong reputation. In contrast, if an organisation isn’t perceived to be delivering on each dimension, stakeholders will lose trust, and subsequently not buy, recommend, invest in, work for or even give the benefit of the doubt to that organisation. Governance Employees Investors and financial analysts Media / press Regulators Suppliers and business partners 31 Reputational Risk Guide 2015
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Page 4 and 5: Introduction The objective of the g
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Page 22 and 23: Reputation risk case study: Service
Page 24 and 25: Reputation risk management lessons
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Defining and managing reputation risk

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