Over the last decade, in unprecedented terms, the dramatic escalation and expansion of risk has complicated the global business environment. Both the speed of this transformation and the new categories of risk that have emerged threaten the durability of most global companies as well as their license to operate.
To remain competitive and even to survive in this complex and uncertain environment, pioneer thinking and innovation must go beyond product lines and services. They must encompass active evolution and management of the corporate social value proposition. They must engage the engineering and design of compliance systems that grow organically. Essentially, they also must deliver incentives for cultures to take root that are defined by their integrity. In a dynamic risk environment, this all forges a foundation of adaptability and enterprise.
As the global risk environment has grown increasingly complicated, so has the importance of corporate reputation as a strategic asset and strategic risk. Indeed, seven-of-eight global executives surveyed recently list reputation risk as the most important their companies face. Among the reputational risks identified, these rank as the top reputation risk drivers:
• Product/services (health/environmental, controversial products, global supply chain)
• Cyber and physical security.
Source: Huffington Post