Branding & Reputation
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Whether we are individuals or represent an institution, we must ensure to live and leave a better reputation. This is normally possible if we are sustainable.

For institutions, if they want better and bigger funds to do great work or greater work, their individual and institutional reputation plays a key role.

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Risk response

 

BP Community Outreach Centers - May 21, 2010
BP Community Outreach Director Iris Cross provides information about the various Community Outreach Centers BP has set up in various communities in the Gulf Coast region to listen to questions, concerns, and frustrations about the oil spill.

 

BP Community Support - Job Search
A BP Community Liaison discusses the variety of people looking for employment with BP to help with the oil spill cleanup efforts. To learn more about local initiatives and similar initiatives in the Gulf

 

BP Community Outreach - Community Outreach Liaison, Baldwin County, Alabama
Mary Lee M., Community Outreach Liaison in Baldwin County, Alabama shares about her experience working between unified command and the local community on the oil spill response.

 

Expert voice


BP's Corporate Social Responsibility
In this edition of Smith Business Close-Up with the University of Maryland's Robert H. Smith School of Business, Shreevardhan Lele, Tyser Distinguished Teaching Fellow of Decision Sciences, discusses what responsibility BP has as a company in the oil spill.

TCS
Risk : Reputational risk

Impact : TCS has a track-record and reputation for quality and delivery certainty in its work, and for integrity and ethical dealing as a corporation. Damage to that reputation could mean loss of marketshare.
Apporach to mitigation : Continued focus on quality rigor and process compliance through its integrated quality management systems and strong Corporate Governance framework and strict adherence to the Tata Code of Conduct
source

Reputation
Tata stands 65th in the world brand valuation league. The company’s brand value is $11.2 billion and tops the list of Indian companies that find a place in the Global 500.
Source : Brand Finance Global 500 March 2010 report

The 2009, annual survey by the Reputation Institute ranked Tata Group as the 11th most reputable company in the world.

Tata group was awarded the Carnegie Medal of Philanthropy in 2007 in recognition of its long history of philanthropic activities

Tata is now rated as one of the most innovative companies in the world. In each of the Tetley and Corus acquisitions, an Indian company acquired a British one several times larger than itself.

Tata Group has more than just a rule book of ethics; they have a Code of Conduct in which a Code of Ethics is established. Tata Group is a unique company; Its rigid ethic standards are so well set that most corrupt officials do not bother bribing with the Tata executives.

“It would be a sad day if Tata were to become like any other multinational company, driven by the profit-seeking interests of its shareholders and forced into compromising on its commitment to its employees and on its social agenda. The world would be a poorer place. And so would Tata.”
- Business historian and honorary senior fellow at the University of Exeter Business School Morgen Witzel in his latest book Tata: The Evolution of a Corporate Brand

Corporate Social Responsibility as Insurance
The degree to which you were punished by the stock market for the negative news depended on how much of a socially responsible company you were. Firms that scored low on a social responsibility index saw their share price plummet if they had to announce a negative event. Firms with very good social track records did not see their share price go down that much. Paul, Craig, and Jared concluded that your socially responsible reputation acts as some sort of an insurance; when something bad happens to you (in the form of a serious customer complaint or a government fine) investors conclude that you probably made a genuine mistake and that you will definitely do better next time. That there is nothing structurally wrong with you or to worry about. However, when you are much more of a social villain, the stock market washes its hands of you, drops its financial support, and makes your share price plummet.
Read from an interesting blog on HBR

Managing Risks: A New Framework
By Robert S. Kaplan ( Baker Foundation Professor at Harvard Business School and the cocreator of the Balanced Scorecard management system, and, Anette Mikes, an assistant professor at Harvard Business School.)
Despite all the rhetoric and money invested in it, risk management is too often treated as a compliance issue that can be solved by drawing up lots of rules and making sure that all employees follow them. Many such rules, of course, are sensible and do reduce some risks that could severely damage a company. But rules-based risk management will not diminish either the likelihood or the impact of a disaster such as Deepwater Horizon, just as it did not prevent the failure of many financial institutions during the 2007–2008 credit crisis.
Full Article

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