Summary of Managing Reputational Risk

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Managing Reputational Risk book summary
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Rating

7 Overall

9 Applicability

6 Innovation

5 Style

Recommendation

The reputations of several major corporations (Enron, WorldCom, Parmalat and Tyco, to name a few) recently suffered from allegations of fraud, self-dealing, insider trading, accounting shenanigans and various other misdeeds. The sense of scandal became so pervasive that some businesspeople felt ashamed of their profession. Now, the mere rumor of misconduct is sufficient to send a company’s stock price down. Ironically, in an era when the transnational corporations seem omnipotent in their globe-girdling might, many of them greatly resemble nubile maidens in an eighteenth century romance, their whole fate dependent on spotless and easily marred reputations. That being the case, every business and every business manager should prioritize the careful husbanding of reputation. getAbstract.com finds that this book, which has been highly praised by some of the most estimable authorities on business ethics and management, offers a comprehensive, if sometimes pedantic, guide to every step of building, measuring, preserving and growing reputation capital.

In this summary, you will learn

  • how to build and preserve the value of your corporate reputation.
 

About the Author

Jenny Rayner is an independent U.K.-based consultant, founder of Abbey Consulting and executive editor of the Business Risk Management Handbook.

 

Summary

What Is Reputation
The Compact Oxford English Dictionary defines reputation as "The beliefs or opinions that are generally held about someone or something." The people who are generally most likely to hold opinions about a business are its important stakeholders: customers, vendors, employees...

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