Reputation resilience vs. reputation loss. (V)oters have a record of dumping UK governments that lose their reputation for economic competence, even at elections some years later. Truss faces a monumental struggle to convince her own MPs she is capable of rehabilitating her own and her party’s image, and of leading Britain forward. If they conclude she cannot — and some seem already to have made up their minds — they may move against her quickly.
Regardless of one’s moral compass, the practical risks of failing to uphold business ethics are very real, transcending any legal or regulatory requirements. A company’s most valuable asset may be its reputation, yet that asset appears nowhere on the company’s balance sheet. Board members’ oversight of risk management should therefore include reputational risk as a key element, which requires attention to business ethics throughout the company’s activities, both current and planned. This book provides excellent examples — good and bad — that will be instructive for board members in overseeing management of reputational risk.
Ethics Compliance Management Governance. An effective management process for [ethics, compliance, ESG risk, reputation risk…] creates value with regulators. An effective governance process creates value with investors and the courts. Auditors’ reports on controls are how boards can signal to regulators that their management processes are effective. Reputation and ESG insurances are how boards can …
