2013 03-06 ITWeb GRC presentation on reputation management

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These are my slides for my presentation at the ITWeb GRC conference on 6 March 2013 on reputation as a corporate governance issue from the perspective of the social Web.

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2013 03-06 ITWeb GRC presentation on reputation management

  1. 1. Reputaon  Management  as  an  emerging  GRC  challenge @pauljacobson @webtechlawTuesday 05 March 13
  2. 2. Picture it ... 2013-03-06Tuesday 05 March 13
  3. 3. Chicago, 2008 2013-03-06Tuesday 05 March 13
  4. 4. Dave Carroll had a guitar 2013-03-06Tuesday 05 March 13
  5. 5. 2013-03-06 5Tuesday 05 March 13
  6. 6. 2013-03-06 6Tuesday 05 March 13
  7. 7. 150 000 views in 1 day 7Tuesday 05 March 13
  8. 8. 3 000 000 views in 10 days 8Tuesday 05 March 13
  9. 9. 9Tuesday 05 March 13
  10. 10. United’s share price dropped 10%* *http://www.ibtimes.com/articles/20090724/youtube-complain-song-cost-united-airlines-180-million.htm 10Tuesday 05 March 13
  11. 11. What does Dave Carroll’s guitar have to do with governance, risk or compliance?Tuesday 05 March 13
  12. 12. King 3Tuesday 05 March 13
  13. 13. Leadership Accountability Corporate citizenship Transparency Sustainability InterconnectedTuesday 05 March 13
  14. 14. Transparent and effective communication with stakeholders is essential for building and maintaining their trust and confidence - Principle 8.5Tuesday 05 March 13
  15. 15. Listen, captureTuesday 05 March 13
  16. 16. RiskTuesday 05 March 13
  17. 17. The board should exercise leadership to prevent risk management from becoming a series of activities that are detached from the realities of the company’s business. - Principle 4.1.1Tuesday 05 March 13
  18. 18. The board should be able to demonstrate that it has dealt with the governance of risk comprehensively. This should include the development and implementation of a policy and plan for a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, as well as the related internal control, compliance and governance processes within the company. - Principle 4.1.3Tuesday 05 March 13
  19. 19. Stakeholders that could materially affect the operations of the company should be identified, assessed and be dealt with as part of the risk management process - Principle 8.1.8Tuesday 05 March 13
  20. 20. ReputationTuesday 05 March 13
  21. 21. StakeholdersTuesday 05 March 13
  22. 22. Tuesday 05 March 13
  23. 23. Shareholders Potential investors Media AnalystsTuesday 05 March 13
  24. 24. Shareholders Employees Potential investors Customers Media Communities AnalystsTuesday 05 March 13
  25. 25. Perceptions are importantTuesday 05 March 13
  26. 26. Stakeholders’ overall assessments (and therefore aggregate perceptions) of companies, result in the formation of corporate reputations. Reputation is based on how well a company performs compared with the legitimate interests and expectations of stakeholders. There is growing awareness of how important the contribution of reputation is to the economic value of the company. - Principle 8.1.1Tuesday 05 March 13
  27. 27. The board should be the ultimate custodian of the corporate reputation and stakeholder relationships. The company’s reputation and its linkage with stakeholder relationships should therefore be a regular board agenda item. The board should take account of and respond to the legitimate interests and expectations of stakeholders linked to the company in its decision-making. - Principle 8.1.4Tuesday 05 March 13
  28. 28. Empower managementTuesday 05 March 13
  29. 29. The board should delegate to management to proactively deal with stakeholder relationships - Principle 8.2Tuesday 05 March 13
  30. 30. The relationship becomes symbioticTuesday 05 March 13
  31. 31. Constructive engagement with stakeholders could provide companies with valuable information about stakeholders‘ views, external events, market conditions, technological advances, and trends or issues. This can assist companies anticipate, understand, and respond to external changes more efficiently, thereby enabling the company to deal with challenges more effectively. - Principle 8.2.15Tuesday 05 March 13
  32. 32. Your employeesTuesday 05 March 13
  33. 33. The board should, as part of the company‘s stakeholder policies, adopt communication guidelines that support a responsible communication programme. These guidelines should define the respective responsibilities of the board and management in regard to stakeholder communication.Tuesday 05 March 13
  34. 34. Are you going to leave your social media policy up to your marketing team?Tuesday 05 March 13
  35. 35. Contextualise public facing updates and postsTuesday 05 March 13
  36. 36. You could be listening to your competitive advantageTuesday 05 March 13
  37. 37. Thank you! Visit http://j.mp/wtlitwebgrc for more links and resourcesTuesday 05 March 13
  38. 38. Paul Jacobson paul@webtechlaw.com @webtechlaw webtechlaw.comTuesday 05 March 13
  39. 39. Quesons? Thank  youTuesday 05 March 13

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