“According to Mr Solomon and co, Goldmanites must still dress “in a manner consistent with your clients’ expectations”. It’s heart-warming to learn than the bank takes the concerns of its muppets — sorry, clients — so seriously.Financial Times
The Malaysian government is currently suing Goldman for involvement in a multibillion-dollar fraud, which the bank denies. But at least it hasn’t complained about partners’ dress sense.”
March 9, 2019
“Goldmanites must still dress ‘in a manner consistent with your clients’ expectations.’”
Reputation Value: going forward economic benefit of stakeholder expectations.
Reputations are valuable strategic intangible assets. Threats to these assets⏤ enterprise reputation risks, often mislabeled “brand risks” ⏤ need to be managed, and management needs to be overseen through reputation risk governance lest reputational damage or reputational harm result in long-tailed go-forward losses in economic value and/or political power. Because these intangible risks arise from the interplay of stakeholder expectation, experiences, and media amplification, parametric insurances for intangible asset risks, for reputational value, for reputational harm, and for reputation assurance help mitigate risk by telling a simple, convincing and completely credible story of quality reputation governance to stakeholders. This story telling effect is the expressive power of insurance complementing insurance’s better known instrumental power of indemnification.
Risk management, risk financing in insurance captives, and risk transfer through reputation insurances comprise the constituent elements of a comprehensive solution.
What’s your strategy?