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Volume 27, Issue 3

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July 29, 2013

Firms target reputational risks through strategic risk management

Considering potential threats to an organization's reputation as part of the strategic planning process can help reduce such risks and even position a company to enhance its reputation by allowing it to prepare an effective response when an event occurs.

“I think there is a very powerful connection between strategic risk management and reputation and brand management,” said James W. DeLoach, managing director at consultant Protiviti Inc. in Houston.

“As we view certain events over the last several years, we have come to realize even the best household names, the best brands face their moment of crisis. No company is immune to the risk of a crisis,” Mr. DeLoach said.