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Reputation & Risk management - The Social Angle

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• Growing Importance of Social influence and Social capital of people and brands. Pros and cons in using social media
• Personal and professional risks associated with participation in Social Media. The issue of Transparency
• Detecting potential risks to reputation through regular media monitoring and analysis
• Best known methods to navigate through a potential crisis through Social Media

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Reputation & Risk management - The Social Angle

  1. 1. “REPUTATION & RISK MANAGEMENT” THE SOCIAL ANGLE @JAMSHEDWADIA
  2. 2. FUNDAMENTAL CHANGE’SARE HAPPENING
  3. 3. Social is putting power in hands of MassesStory Source Wired.com
  4. 4. Reduced Trust IN INSTITUTIONS of people trust advertisers. trust other people they DON’T know .. of people trust recommendations from people they know.Source: Social Media around the world 2011 by InSites Consulting
  5. 5. Large number OF INFLUENCERSScattered Demographics Finding the right needle in the HaystackVarying degrees of Influence
  6. 6. Consumers areMORE DEMANDING & EMPOWERED
  7. 7. What happens in Vegas, Stays in VegasWON’T STAY IN VEGAS ANYMORE!!
  8. 8. Reputation is built over a long period ofIf you lose money for the firm, I will be veryunderstanding. If you lose reputation for the firm, Iwill be ruthless.Warren Buffet – Renowned businessman & philanthropist
  9. 9. Why REPUTATION Matters Positively affects Attracts investmentstock performance Commands a price premium Reduces Risk
  10. 10. Reputation Risk from EMPLOYEES ONLINE LIFE Would a company policy change how you behave online? 49% of employees say “no” 57% percent of executives 74% of employees surveyed say agree that reputational risk and social it’s easy to damage a company’s networking should be a board room reputation on social media. issue, but only 15% say it actually is. 27% of employees surveyed don’t consider the ethical consequences of posting comments, photos, or videos online – and more than one-third don’t consider their boss, their colleagues, or their clients.Source: Social Networking And Reputational Risk In The Workplace - Deloitte Survey (July 09)
  11. 11. It’s serious enough for people to loose their jobs – Use Common SenseStory Source: 10 people who lost their jobs because of Social Media Mistakes by Mashable
  12. 12. Thin line of ownership betweenEmployee and EmployerStory Source: LinkedIn Intelligence Story Source: London loves Business
  13. 13. Social Media disaster can strikeeven if you don’t play in Social Story Source: Adrants
  14. 14. Get to the party before theydecide to misrepresent you Story Source: Naked Security
  15. 15. Human Errors can happen –Put Guard Rails, Process & Systems in Place Story Source: Mashable
  16. 16. Case of Bad Taste & Lack of Sensitivity Story Source: MemeBurn
  17. 17. You don’t want to be a CASE STUDY Story Source: Real Time ReportOutcomeUnited Airlines stock price plunged 10% costingshareholders $180 million. Story Source: Social Media Risk
  18. 18. And if you are a Case Study be a good example Story Source: My Bottle’s Up and TSA Blog
  19. 19. Action: Listen, Respond & EngageImage Source: Radian 6 Dashboard Be Alert 24 x 7 Use Employees who are Be Nimble and empower employees subject matter experts to make quick decisions
  20. 20. Action : Choosing the right tool
  21. 21. Action: Measuring the right things Competitor Analysis Conversation Cloud Sentiment Analysis Demographics Media Analysis Influencer Management Source: Sysomos Sample Dashboard
  22. 22. Action: Finding Influencers is Important forProtecting and Building Brand Reputation More Brands than ever before want to identify, recruit and reward their most-influential consumers
  23. 23. Action: Training, Guidelines & ToolsDisclose l Protect l Use Common Sense Publishing Tools for Multi Admin Access Training Modules Source: Intel Social Media Guidelines
  24. 24. Word Cloud for Building Reputation authentic openness relationship humble honest professionalismtransparent engaging empathy genuine responsive
  25. 25. Action: Manage Risk• Be prepared for scrutiny at anytime• Listen, Detect & Protect• Have a place to respond and be quick at it.• Manage administration hub & access rights• Align tightly with PR, Legal and HR for crisis management
  26. 26. Summary• All word to mouth conversations are now in public domain• Social media crisis can happen even when you’re not in social-media• Stick to basics and use common sense• Listen, Respond and engage quickly and be humble• Clarify and be quick to ask for forgiveness if needed• Train and prepare your organization for the Social Era• Have a Crisis management System
  27. 27. Thank YouObligatory DisclaimerEvery effort has been made to cite sources on this presentation.The presentation is based on author(s) personal opinions & interpretations & notthose of author(s) employer(s), past or current.

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