Rethinking Reputational Risk: How to Manage the Risks that can Ruin Your Business, Your Reputation and You.
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| Author / Creator: | Fitzsimmons, Anthony. |
|---|---|
| Imprint: | [Place of publication not identified] : Kogan Page : Kogan Page, 2017. |
| Description: | 1 online resource |
| Language: | English |
| Series: | Business professional collection |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/11910601 |
Table of Contents:
- Foreword; Preface; Part 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?; 03 How reputations are lost; Stakeholders in crises; Confidentiality evaporates in a crisis; Crises as a public stress-test of leaders
- Crisis dynamicsThe trigger; Stakeholders and media engage; The back story; Leaders are not necessarily trusted; As stories develop, reputations evolve; 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 model05 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; 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 expectationsIf stakeholders overestimate you; Stakeholders' unreasonable expectations; Owners and their proxies; Regulators: stakeholders with multiple agendas; 07 Risks from failing to communicate and learn; Upward communication failures; Downward communications failures; Communication across the organization; Risk blindness; Failure to learn; 08 Character, culture and ethos; Character; Culture; Cultural leadership; Failure to embed the desired culture throughout the organization; 09 Incentives; Financial incentives: bonuses; Do large bonuses work?; Penalties
- Non-financial incentivesNotes; 10 Complexity; 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; 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; 13 Incubation and complacency; Incubation can be surprisingly long; Complacency; Hubris
- 14 The special role
- and risks
- of leaders