A Content Analysis Review of Literature to Create a Useable Framework for Reputation Risk Management

Abstract

Over the past decade, reputation risk has grown in significance in corporate environments. It has become an essential issue in the financial stability and long-term sustainability of businesses. With mounting oversight and regulatory requirements, stakeholder influence, and the ability for social media to largely impact consumer opinion, it has become imperative to identify and mitigate risks that underscore reputational damage and impede the ability to achieve projected profitability. While reputation risk has grown in magnitude, organizations continue to ineptly manage reputation by failing to appropriately integrate this highly prized asset into their risk management programs. Organizations also fail to implement viable risk management programs that enable proactive responses that effectively address the challenges that they face. This costly oversight has caused organizational losses, including customers, industry standing, and revenue. The approach used was a content analysis review of the literature to create a use-able framework for reputation risk management.