Actions for Rethinking reputation risk : how to manage the risks that can ruin your business, your reputation and you
Rethinking reputation risk : how to manage the risks that can ruin your business, your reputation and you / Anthony Fitzsimmons and Derek Atkins
- Author
- Fitzsimmons, Anthony
- Published
- London ; New York : Kogan Page, 2017.
- Physical Description
- xix, 315 pages : illustrations ; 23 cm
- Additional Creators
- Atkins, Derek
- Contents
- Machine generated contents note: pt. ONE Rethinking -- 01.Introduction -- Learning from crises -- Anthony's story -- Derek's story -- Combining our insights to reveal hidden truths -- Why study crises? -- Outsiders can see more clearly than insiders -- What is in it for whom? -- 02.Reputation basics -- What is a reputation? -- How is a good reputation valuable? -- The unrecognized role of heuristics -- Systems One and Two -- The value of a good reputation -- Whose reputation is it anyway? -- Questions to mull -- 03.How reputations are lost -- Stakeholders in crises -- Confidentiality evaporates in a crisis -- Crises as a public stress-test of leaders -- Crisis dynamics -- The trigger -- Stakeholders and media engage -- The back story -- Leaders are not necessarily trusted -- As stories develop, reputations evolve -- Questions to mull -- 04.What is reputational risk? -- Cognitive biases and their consequences -- How cognitive biases and heuristics lead us astray -- A better definition of reputational risk -- Follow those root causes -- Latent weaknesses incubate slowly -- Turner's innovative equation -- Lessons from Three Mile Island -- Complex systems fail in complex ways -- `Normal' accidents -- Overconfidence and optimism -- The role of human error -- The problem of systemic weakness -- Enter the Swiss cheese model -- Questions to mull -- 05.The hole in classical risk management -- Where `three lines of defence' fails -- Normal human behaviour -- The hole in classical risk management -- The `Swiss cheese' model has a hole! -- Boards in the dark: unknown knowns and the risk glass ceiling -- Unwanted incentives affect risk managers -- Protecting chief risk officers -- Questions to mull -- 06.Stakeholder behaviour -- How does this work in practice? -- Reputational capital and reputational equity -- Unduly good reputations -- Stakeholders in peacetime -- Stakeholders in a crisis -- Insiders are stakeholders too -- Licence to operate -- Stakeholder expectations -- Antifragility -- If stakeholders overestimate you -- Stakeholders' unreasonable expectations -- Owners and their proxies -- Regulators: stakeholders with multiple agendas -- Questions to mull -- 07.Risks from failing to communicate and learn -- Upward communication failures -- Downward communication failures -- Communication across the organization -- Risk blindness -- Failure to learn -- Questions to mull -- 08.Character, culture and ethos -- Character -- Culture -- Cultural leadership -- Failure to embed the desired culture throughout the organization -- Questions to mull -- 09.Incentives -- Financial incentives: bonuses -- Do large bonuses work? -- Penalties -- Non-financial incentives -- Questions to mull -- 10.Complexity -- Questions to mull -- 11.Board composition, skill, knowledge, experience and behaviour -- Insufficient understanding -- Blindness from cultural maps, rules, taxonomies and social norms -- Diversity and skewed boards -- Biases, heuristics, board dynamics and challenge -- Questions to mull -- 12.Risks from strategy and change -- Strategy development -- Risks from large projects and change: the planning fallacy -- Risks from inadequate crisis strategy, planning, practice and management -- Questions to mull -- 13.Incubation and complacency -- Incubation can be surprisingly long -- Complacency -- Hubris -- Questions to mull -- 14.The special role -- and risks -- of leaders -- Risks from leaders -- Leadership charisma and dominance -- Who can risk-manage leaders? -- Questions to mull -- pt. TWO Case studies -- 15.BP: Texas City explosion -- Main risk event -- Company involved -- Brief note on company -- Date of event -- Background to event -- Description of event -- Post-event response -- Findings of investigations -- Consequences of event -- Risk management lessons -- Questions to mull -- 16.BP: Deepwater Horizon -- Main risk event -- Company involved -- Brief note on company -- Date of event -- Background to event -- Description of event -- Post-event response -- Findings of investigations -- Consequences of event -- Risk management lessons -- Questions to mull -- 17.Tesco PLC -- Main risk event -- Company involved -- Brief note on company -- Date of event -- Background to event -- Description of event -- Post-event response -- Findings of investigations -- Consequences of event -- Risk management lessons -- Questions to mull -- 18.American International Group (AIG) -- Main risk event -- Brief note on company -- Date of event -- Background to event -- Description of event -- Post-event response -- Findings of investigations -- Consequences of event -- Risk management lessons -- Questions to mull -- 19.EADS Airbus A380 -- Main risk event -- Company involved -- Brief note on company -- Date of event -- Background to event -- Description of event -- Post-event response -- Consequences of event -- Risk management lessons -- Questions to mull -- 20.Libor: Barclays Bank PLC -- Main risk event -- Company involved -- Brief note on company -- Date of event -- Background to event -- Description of event -- Post-event response -- Findings of investigations -- Consequences of event -- Risk management lessons -- Questions to mull -- 21.Volkswagen -- Main risk event -- Company involved -- Brief note on company -- Date of event -- Background to event -- Description of event -- Post-event response -- Consequences of event -- Risk management lessons -- Questions to mull -- 22.Mid Staffordshire NHS Foundation Trust (Stafford Hospital) -- Main risk event -- Brief note on company -- Date of event -- Background to event -- Description of event -- Post-event response -- Findings of investigations -- Consequences of event -- Risk management lessons -- Questions to mull -- pt. THREE Practicalities -- 23.The way forward -- Introduction -- Implementing a reputational risk management process -- 24.System basics -- getting to `go' -- Process overview -- Understanding the nature of reputation and reputational risk -- Valuing your reputation -- Assigning ownership of reputation -- 25.Setting up the reputational risk management system -- Leadership in risk management -- Risk team skills -- A reputation committee? -- Giving the team sufficient authority -- Dealing with risks from board level -- 26.Operating the reputational risk management system -- Setting risk appetite and tolerance -- Identifying, analysing and evaluating reputational risks and their roots -- Analysing risks and impacts -- Evaluating risks and impacts -- Mitigating vulnerabilities -- Reporting and monitoring -- Coda.
- Subject(s)
- ISBN
- 9780749477363 paperback
0749477369 paperback - Bibliography Note
- Includes bibliographical references (pages 297-301) and index.
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