Reputation Risk Management - Part 1 of 10

Effective Reputation Risk management is the ultimate key in surviving. Today, money is made by branding, reputation and similarly, it is lost due to bad reputation and poor branding.

So, how does one manage reputation risk. To start of this discussion, we have split the content in 10 parts, each part takeing up one way to manage the risk.

Listen to your customers
One of the most effective tools for managing reputation is through customer communication. Establish a framework for listening to your customers, noting down complaints, addressing these complaints and monitoring customer initiated action against the organisation.

As the organisation grows, the customer interaction and grievances will grow. In such situation, establishing customer grievance cells, committees would also help. Make sure that responses and action taken by these committees are made public and disclosed so that investors realise that the organisaiton is serious about its reputation and manages reputation risk well.

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