Supporting Strategic Success Through Enterprise-Wide Reputation Risk Management

25 Pages Posted: 8 Sep 2015

See all articles by Nadine Gatzert

Nadine Gatzert

Friedrich-Alexander University Erlangen-Nürnberg

Joan T. Schmit

University of Wisconsin - Madison - Department of Actuarial Science, Risk Management and Insurance

Date Written: August 24, 2015

Abstract

Concern over an organization’s reputation is at a heightened level and has become a top strategic business risk. Reputation creation, enhancement, and protection are critical to an organization’s success, yet highly challenging given the wide ranging and somewhat opaque nature of the concept as well as the variety of potential events causing harm. These qualities call for a strong enterprise risk management (ERM) approach to reputation that is holistic and integrative, yet existing knowledge of how to do so is limited. The aim of this paper is to evaluate and synthesize existing reputation literature in developing an enterprise-wide reputation risk management framework incorporating necessary steps, processes, and considerations. We address risk strategy, risk assessment, risk governance, and risk culture as key elements of ERM and conclude with suggestions for future research.

Keywords: Corporate reputation, reputation risk, reputation risk management, stakeholder behavior

Suggested Citation

Gatzert, Nadine and Schmit, Joan T., Supporting Strategic Success Through Enterprise-Wide Reputation Risk Management (August 24, 2015). Available at SSRN: https://ssrn.com/abstract=2654295 or http://dx.doi.org/10.2139/ssrn.2654295

Nadine Gatzert (Contact Author)

Friedrich-Alexander University Erlangen-Nürnberg ( email )

Lange Gasse 20
Nuremberg, 90403
Germany
+499115302884 (Phone)
+499115302888 (Fax)

HOME PAGE: http://www.vwrm.rw.fau.de

Joan T. Schmit

University of Wisconsin - Madison - Department of Actuarial Science, Risk Management and Insurance ( email )

Madison, WI
United States
608-262-4240 (Phone)

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