Corporate Reputation and Risk Management

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Corporate Reputation & Risk Management Brian Cronkhite – August 4, 2010

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Presentation by Brian Cronkhite, Managing Director of Burson-Marsteller’s Corporate Practice for Greater China to the Conference Board’s 21st Century Leadership executive roundtable on Risk Management and Communication in Times of Crisis and Uncertainty, held on August 5 in Shanghai.

Transcript of Corporate Reputation and Risk Management

Page 1: Corporate Reputation and Risk Management

Corporate Reputation & Risk Management

Brian Cronkhite – August 4, 2010

Page 2: Corporate Reputation and Risk Management

“A good name is better than riches.” -- Don Quixote

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What do you see?

Reputation is shaped by perceptions

• They are formed by what people know, see, hear, read and experience

• They determine how people think and feel — and, therefore, how they behave

• Perception = reality

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What do you see?

Reputation is shaped by perceptions

• They are formed by what people know, see, hear, read and experience

• They determine how people think and feel — and, therefore, how they behave

• Perception = reality

Page 5: Corporate Reputation and Risk Management

What do you see?

Reputation is shaped by perceptions

• They are formed by what people know, see, hear, read and experience

• They determine how people think and feel — and, therefore, how they behave

• Perception = reality

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A good reputation is forged over…

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And a consistent, complex web of interactions…

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When reputation is good…

Recommended as a place to work

Pay more for products / services

Recommend stock

Give the benefit of the doubt

Recommend as JV Partner

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When reputation is bad…

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“It takes 20 years to build a reputation and five minutes to ruin it.” -- Warren Buffet

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A CHANGING ENVIRONMENT

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6 communications trends re-shaping the RM equation

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#1 Professionalism - of NGOs, Activists

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#2 Transparency

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#3 Accountability

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#4 Dialogue

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#5 Alignment

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#6 Speed

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‘ ’

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’

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1. Corporate sensor– identifies and

assesses stakeholder sentiment

2. Corporate

conscience– contributes and

participates in the decision-making process

3. Corporate communicator– speaks for the

corporation in a truthful, timely

manner

4. Corporate monitor– ensures

company is delivering on its promises

What role should communications play in RM?

Source: Harold Burson’s view on the role of Corp Communicator

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Discussion

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Brian Cronkhite

Managing Director, Corporate Practice,Greater China

T: 86 21 5403 [email protected]

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