Reputation is fast becoming one of the most important risks to manage. Build quantifiable arguments to get boards on board.

Corporate reputation, the close cousin of a firm’s brand, is one of the most intangible assets a company has. If a brand is the inside-out perception of a firm, reputation is the outside-in perception. Therefore, risks to a reputation can come from anywhere. It’s difficult for boards to control, and the financial impact of a damaged reputation is deemed to be higher than climate change or a cyber-attack, according to the Asia Risk Report by StrategicRISK.

A damaged reputation can be exacerbated by its interconnectedness with other risks. In the same report, survey respondents ranked “damage to company reputation/brand” as the risk most connected to environmental risks, social unrest, and regulation, among others.

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