We have found that damage to reputation occurs most frequently among risks for which the handling strategy should be avoid or mitigate. Behavioural risks are cultural and involve activity of questionable ethics, inconsistent with core values. Contamination risks require mitigation from third party activity to ensure business partners share your values.
| Risk strategy | Risk type | Highlights | Damage | Alignments |
|---|---|---|---|---|
| Avoid | Behavioural | Internal policies | Illegal activity Unethical activity |
Does our conduct match our claims? |
| Mitigate | Contamination | External relationships | Association Service delivery |
Do our partners share our values? |
| Manage | Operational | Systems effectiveness | Financial problems Product recalls |
Are our systems fit for purpose? |
| Transfer | Detachable | Insurance cover | Large claim New peril |
Are our liabilities correctly insured? |
Risks requiring a strategy to manage or transfer tend to offer less reputation damage. Systems failure at either executive or operational level can be rectified by a recall or similar review. Any risk for which insurance cover is available should be subject to transfer.
©2010 Chiron Reputation Risk Consultants
25 St. Thomas Street, Winchester, Hampshire SO23 8RZ
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