Firms are finally waking up to the fact that they cannot afford not to take the reputational risk seriously. With so many businesses succumbing in recent years, it’s easy for executives and decision-makers who aren’t aware of this trend – or its severity –to blame external factors like scandalous headlines on their public image instead of addressing what’s really going wrong internally.

How To Avoid It?

Communication

When organizations are put under pressure, any incident will have a big impact on their reputation. It is important to manage communications with internal and external stakeholders so that you can mitigate the risk of your company being impacted negatively through this kind of crisis situation.

Training and Preparation

The media has been reporting on a number of high-profile cases where common communication strategies have failed to keep up with social norms. It’s not enough for an organization to work out what they are going to say if something happens – it should also consider how people will receive that message in advance so that many stakeholders are satisfied afterward.

Ownership

When an organization is aware of their reputation risk, they are more likely to succeed in mitigating it. The first step towards managing any kind of crisis communication plan should include being prepared for anything that can go wrong and understanding what’s happening internally at all times. This way employees know how best to regulate themselves when faced with critical situations on-the-job rather than waiting till something arises unexpectedly out there where only professionals have access to.

Monitor changing beliefs and expectations

As a company, it’s important to understand how your customers and employees feel about the organization. Surveys can help show whether there are any shifts in priorities or expectations from stakeholders over time which may indicate an evolving gap between reputation and reality for them as well.

It’s important not just in what you post but how your business responds when faced with negative feedback or negativity on social platforms such as Facebook and Twitter. Monitoring these sources can provide insight into potential problems before they spiral out of control so make sure that monitoring procedures are implemented including reviewing posts by users who comment positively about products/services offered by competitors; responding promptly (and politely)to any questions posted within this forum category – if there’s an issue then escalate immediately.

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Imelda Bouchard is the owner of Gov Relations. She graduated with a degree in Business Administration in Finance​ at the University of Houston-Downtown. Imelda has over a decade of experience working in the finance industry. Following her stint at an international fintech company, she has decided to create a platform where businesses can make use of great business ideas.