Uploaded byJamshed Wadia
Reputation & Risk management - The Social Angle
The document discusses the importance of reputation management in the era of social media, highlighting how consumer trust has shifted from institutions to personal recommendations. It emphasizes the significant impact of social media on a company's reputation, suggesting that organizations must be proactive in managing risks and engaging effectively with stakeholders. Additionally, it notes the necessity for training and guidelines to empower employees in maintaining a positive online presence and mitigating potential reputational crises.
Reputation & Risk management - The Social Angle
- 1. “REPUTATION & RISKMANAGEMENT” THE SOCIAL ANGLE @JAMSHEDWADIA
- 2.
- 3. Social is puttingpower in hands of Masses Story Source Wired.com
- 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. Large number OFINFLUENCERS Scattered Demographics Finding the right needle in the Haystack Varying degrees of Influence
- 6. Consumers are MORE DEMANDING& EMPOWERED
- 7. What happens inVegas, Stays in Vegas WON’T STAY IN VEGAS ANYMORE!!
- 8. Reputation is builtover a long period of If you lose money for the firm, I will be very understanding. If you lose reputation for the firm, I will be ruthless. Warren Buffet – Renowned businessman & philanthropist
- 9. Why REPUTATION Matters Positively affects Attracts investment stock performance Commands a price premium Reduces Risk
- 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. It’s serious enoughfor people to loose their jobs – Use Common Sense Story Source: 10 people who lost their jobs because of Social Media Mistakes by Mashable
- 12. Thin line ofownership between Employee and Employer Story Source: LinkedIn Intelligence Story Source: London loves Business
- 13. Social Media disastercan strike even if you don’t play in Social Story Source: Adrants
- 14. Get to theparty before they decide to misrepresent you Story Source: Naked Security
- 15. Human Errors canhappen – Put Guard Rails, Process & Systems in Place Story Source: Mashable
- 16. Case of BadTaste & Lack of Sensitivity Story Source: MemeBurn
- 17. You don’t wantto be a CASE STUDY Story Source: Real Time Report Outcome United Airlines stock price plunged 10% costing shareholders $180 million. Story Source: Social Media Risk
- 18. And if youare a Case Study be a good example Story Source: My Bottle’s Up and TSA Blog
- 19. Action: Listen, Respond& Engage Image 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. Action : Choosingthe right tool
- 21. Action: Measuring theright things Competitor Analysis Conversation Cloud Sentiment Analysis Demographics Media Analysis Influencer Management Source: Sysomos Sample Dashboard
- 22. Action: Finding Influencersis Important for Protecting and Building Brand Reputation More Brands than ever before want to identify, recruit and reward their most-influential consumers
- 23. Action: Training, Guidelines& Tools Disclose l Protect l Use Common Sense Publishing Tools for Multi Admin Access Training Modules Source: Intel Social Media Guidelines
- 24. Word Cloud forBuilding Reputation authentic openness relationship humble honest professionalism transparent engaging empathy genuine responsive
- 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. Summary • All wordto 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. Thank You Obligatory Disclaimer Everyeffort has been made to cite sources on this presentation. The presentation is based on author(s) personal opinions & interpretations & not those of author(s) employer(s), past or current.
Editor's Notes
- #4 But We all Know…