Nadine Gatzert and Joan Schmit
The purpose of this paper is to present a coherent and effective enterprise risk management (ERM) framework that includes necessary steps and processes for integrating reputation…
Abstract
Purpose
The purpose of this paper is to present a coherent and effective enterprise risk management (ERM) framework that includes necessary steps and processes for integrating reputation risk management into an organization’s overall ERM approach which is intended to support corporate strategic success. In particular, 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. These qualities call for a strong ERM approach to reputation that is holistic and integrative, yet existing knowledge of how to do so is limited.
Design/methodology/approach
The paper evaluates and synthesizes 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.
Findings
The results suggest several important ideas which are of great relevance when integrating reputation risk management into an ERM framework. Among these are the importance of: identifying and understanding the purpose of key stakeholders, appreciating the multidimensional and layered effect of events on organizational reputation and monitoring the influence of technological advances.
Originality/value
The authors contribute to the literature by developing a framework for enterprise-wide reputation risk management that applies across industries. In contrast to previous work, the authors offer a broader perspective on the underlying causes and consequences of reputation damage based on empirical evidence and insight from the academic literature and provide additional detail in identification of reputation determinants, antecedents, and drivers. While much of this information exists in various places in the literature, it has not been organized into a cohesive framework nor used in developing an ERM strategy.
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International business programs became realities in the 1950s, but only at two universities: Columbia and Indiana. In the 1960s, more universities added IB programs and…
Abstract
International business programs became realities in the 1950s, but only at two universities: Columbia and Indiana. In the 1960s, more universities added IB programs and departments; the 1970s saw even more added as universities realized that IB programs would enhance their reputations, improve student knowledge and expertise, and enhance companies’ future success. In 1974, the AACSB added internationalization as a requirement for business schools, forcing even more to enhance the international dimensions of their courses, programs, and faculty. Now virtually all B-schools have become global to some extent, although major differences remain in the quantity and quality of their internationalization.
Alicia Aldridge, Karen Forcht and Joan Pierson
Develops detailed marketing strategy recommendations for online commerce based on the general popularity of the Internet, the unique nature of doing business there, and how its…
Abstract
Develops detailed marketing strategy recommendations for online commerce based on the general popularity of the Internet, the unique nature of doing business there, and how its attributes may be utilized for a successful marketing presence.
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Lilly ICOS is preparing to launch Cialis, a prescription drug that treats erectile dysfunction, and executives must decide how to position Cialis against market leader Viagra and…
Abstract
Lilly ICOS is preparing to launch Cialis, a prescription drug that treats erectile dysfunction, and executives must decide how to position Cialis against market leader Viagra and recent entrant Levitra.
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