classic | mobile
Follow us on:
Follow us on Facebook  Share via Twitter  Share via LinkedIn

Hi-Tech Security Solutions Business Directory
Residential Estate Security Handbook 2017

Save your reputation
October 2017, Security Services & Risk Management

In a corporate sense, reputational risk is defined as the potential for losses in terms of lost revenue, increased operating, capital or regulatory costs, or the destruction of shareholder value that are the result of damage to an organisation’s reputation. Most often, this reputational loss is as a result of an adverse or potentially criminal event involving the company. And since a reputation is decided in the court of public opinion, it can be damaged even if the enterprise is not found guilty of anything in a court of law.

A clear example of the kind of catastrophic brand damage that can lead to the demise of a business is that of global PR company, Bell Pottinger. Following a huge public outcry over the strategy adopted by the company in its work for clients in South Africa, it has seen its CEO resign, clients jump ship and has even been expelled from the Public Relations and Communications Association (PRCA) in the UK. Similarly, a number of large South African companies have experienced significant negative reputational fallout that is also associated with this scandal.

Alex Roberts.
Alex Roberts.

“Reputation is a performance indicator, and therefore it is a serious risk condition for any large enterprise. However, due to the amorphous nature of reputation, many might think it impossible to mitigate against the possibility of reputational damage, but the truth is it – like any other risk – can be managed,” says Alex Roberts, regional director for sales and operations at CURA Software.

“Creating a holistic overview of potential risks, including a detailed evaluation of the company’s current view of its strategies, risks and vulnerabilities, will help a business determine where it stands in this regard. Then, with a risk framework in place, it becomes much easier to analyse gaps in enterprise-level controls, conceptualise an ideal state and implement a roadmap to reduce reputation risk.”

CURA Software’s Enterprise Risk Management (ERM) solutions are designed to enable businesses to better manage risks of all kinds, including reputational risk, while also enabling them to take advantage of opportunities relating to business objectives and goals. CURA provides a powerful and flexible framework for managing risk, allowing companies to identify, analyse, evaluate and treat both risks and opportunities in order to protect the corporate brand, while at the same time creating value for shareholders, owners, employees, customers and regulators.

“Our customers are able to use CURA’s ERM solution to embed and integrate risk management into their business processes, as well as communicate risk and risk treatment widely. It can also link risk management directly to decision-making, monitor organisational and individual performance against goals and objectives and create a risk-aware culture through enforcement and accountability.

“Risks can come in many forms, but in the modern business landscape where brands now face attack from multiple angles, it pays to have a well-considered strategy for risk management to preserve the value of your brand. ERM software should form a key part of enabling such a strategy. Remember, it can take years to build a reputation and mere minutes to destroy it, so ensuring you have an effective reputational risk management strategy in place is more important than ever,” concludes Roberts.

  Share via Twitter   Share via LinkedIn      

Further reading:

  • South Africa’s security industry boom
    October 2017, Security Services & Risk Management
    Currently, South Africa’s private security industry is experiencing an unprecedented growth rate. Citizens are now spending as much as R45 billion annually to safeguard their lives, assets, homes and businesses.
  • Security professionals meet with the regulator
    October 2017, South African Institute of Security (SAIS), This Week's Editor's Pick, Security Services & Risk Management, Associations
    Dave Dodge, chairman of the South African Institute of Security (SAIS) and PSiRA CEO, Manabela Chauke sat down with other role players for an open discussion, the first of many.
  • Causes of fatigue
    October 2017, Leaderware, This Week's Editor's Pick, CCTV, Surveillance & Remote Monitoring, Security Services & Risk Management
    The security industry has many regulations, but in an industry where the type of work and other conditions lend themselves to fatigue, there is little on the handling of fatigue.
  • Beware of PoPI non-compliance
    October 2017, iFacts, Security Services & Risk Management, Integrated Solutions
    Ignorance of the law may not be sufficient to save you from the Act when it comes into operation.
  • Qognify secures global bank
    October 2017, Security Services & Risk Management, CCTV, Surveillance & Remote Monitoring, Integrated Solutions
    Qognify announced that one of the world’s largest banks and financial services companies has selected Qognify Situator and its Operational Intelligence Centre (OIC) module to help manage its global security ...
  • Enabling secure and efficient mining
    October 2017, Gallagher, Mining (Industry), Perimeter Security, Alarms & Intruder Detection, Security Services & Risk Management
    Mining is a high-value industry with long-term return on investment. Initial capital investment is substantial and it can take years from exploration to market-ready product.
  • X-ray designed for purpose
    October 2017, Mining (Industry), Security Services & Risk Management, Products
    X-ray security systems have been available for many years, but are now ready to offer more sophisticated solutions than ever before.
  • The danger of dust
    October 2017, Spero Sensors & Instruments, Security Services & Risk Management, Products
    Dust is one of the single most frustrating issues that plant managers globally have to deal with.
  • Lack of skills hamper transport IoT
    October 2017, This Week's Editor's Pick, Integrated Solutions, IT infrastructure, Security Services & Risk Management
    IoT data stands to revolutionise the global transport sector, but restricted access to critical data may limit potential, finds Inmarsat.
  • Protecting privacy in the face of PoPI
    October 2017, Cyber Security, IT infrastructure, Security Services & Risk Management
    While no single product can offer complete PoPI compliance, having a quality set of information security products puts organisations in a significantly better position.
  • Hand-held logistics management
    October 2017, Active Track, Security Services & Risk Management
    Given South Africa’s crime statistics, it is essential to equip your staff and fleet with a tool to improve the safety of your workforce, your property and the cargo in your care.
  • Assessing risks in security technology systems
    September 2017, Adamastor Consulting, This Week's Editor's Pick, Security Services & Risk Management, Residential Estate (Industry)
    Technology used to mitigate physical risks comes with its own risks that need to be addressed.

Technews Publishing (Pty) Ltd
1st Floor, Stabilitas House
265 Kent Ave, Randburg, 2194
South Africa
Publications by Technews
Dataweek Electronics & Communications Technology
Electronic Buyers Guide (EBG)

Hi-Tech Security Solutions
Hi-Tech Security Business Directory (HSBD)

Motion Control in Southern Africa
Motion Control Buyers’ Guide (MCBG)

South African Instrumentation & Control
South African Instrumentation & Control Buyers’ Guide (IBG)
Terms & conditions of use, including privacy policy
PAIA Manual
    Mobile | Classic

Copyright © Technews Publishing (Pty) Ltd. All rights reserved.