There's much to be gained by reducing reputation risk. Organizations can differentiate themselves as highly competent enterprises and more attractive business partners.
Is your corporate or personal reputation at risk? It's a question more executives are pondering these days, especially in light of recent business scandals and litigation. Managers worry that any misstep in their internal controls or public reporting, regardless of their best intentions, will trigger adverse market reactions. They justifiably fear that even in the absence of personal wrongdoing, they may be held accountable for inappropriate conduct or bad outcomes occurring on their watch.
PricewaterhouseCoopers recently released a global risk-assessment survey of nearly 1,400 CEOs, a third of whom manage companies with more than 5,000 employees and revenue exceeding $1 billion. When asked to prioritize the risks facing their organizations, these executives ranked regulatory noncompliance second—above terrorism, and surpassed only by the prospect of losing to competitors.
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