The FINANCIAL — Protecting a company’s reputation is the most important and difficult task facing senior management teams and boards of directors today. The reason? Its good name is a major source of competitive advantage.
In the latest ISOfocus magazine (November/December 2014), you’ll learn about how it only takes one slip to cause irreparable damage to a company’s image. It also showcases how ISO standards for anti-bribery and online reputation have the potential to generate greater leverage and boost company confidence.
Every company is vulnerable, even the most admired in their industries. And it takes only one accusation to destroy a business and damage its corporate image forever.
A recent survey reported in Insurance Journal suggests that reputation is the hardest risk to manage. The study indicates that 81 % of companies see their brand identity as their most significant asset but are challenged in knowing how to protect it.
Anti-bribery and online reputation are two new subjects that are now taking actual, practical shape in ISO. The future ISO 37001 standard will take account of internationally recognized good anti-bribery practice. It will apply to all organizations, regardless of type, size and nature of activity, and whether in the public, private or voluntary not-for-profit sectors.
Equally anticipated, a standard on online reputation is in the pipeline (stewarded by new technical committee ISO/TC 290) to help companies manage the pitfalls of online mud slinging, be it from other businesses, serial complainers, ex-employees, or quite simply dissatisfied customers. If you can’t beat them, join them as many companies learn to use customer feedback, both positive and negative, to their advantage.
Are you willing to expose your company to unnecessary risk? To learn more, check out the latest ISOfocus!
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