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Reputational Risks Essay

643 words - 3 pages

1. Good day ladies and gentlemen, this is leo. I dont think you can recognize my Chinese name, so instead of that, I m gonna to use my American name. today I would like to present managing reputational risks.
2. First, I m gonna to talk about what is reputational risk? Reputational risk - is a type of risk related to the trustworthiness of business. This type of risk can be informational in nature or even financial. Extreme cases may even lead to bankruptcy. Recent examples of companies include: Toyota, Goldman Sachs, Oracle Corporation and BP. Damage to a firm's reputation can result in lost revenue or destruction of shareholder value, even if the company is not found guilty of a ...view middle of the document...

8. The last one is quality of internal coordination. Poor coordination of decision-making between business units and functions increases reputational risks. If a company has poor internal coordination there is a risk that the actions or public statements of one part of the company could severely embarrass, and thereby damage the reputation of another part.
9. The more importance, it related to Accounting. Reputational risk is not only an accounting problem, but also the corporation’s reputation and social credibility problems. For reforming the reputational base of accounting system, we need improvement of accounting moral, operation of accounting legal system, and transformation of accounting environment through the economic science and society science combined at the same time.
10. There are 5 steps to managing reputational risks. First, Assess Reputation Measure public perception contextually, objectively, and quantitatively. Second, Evaluate Reality, Objectively examine the company’s ability to meet stakeholders’...

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