Could Reputational Risk Doom Your Business? New Paper Covers 20 Ways to Counter Threats

For immediate release                                  Contact:    Ed Barks
Thursday, August 6, 2015                                                (540) 955-0600

 

The experts agree. Reputational risk represents a substantial threat to a company’s financial well-being. And executives say it’s the toughest challenge they encounter.

A new position paper by Barks Communications President Ed Barks advises executives how to communicate when faced with risks that threaten their businesses and their careers. “Beyond the Bottom Line: 20 Ways to Reduce Reputational Risk” contains 20 reputational risk scenarios and, importantly, specific action steps to take when communicating in the maelstrom of such hazards.

As the introduction reads, “What do you need to do to avoid or, in certain cases, minimize the reputational risk to your organization? This paper offers solutions to help you when crisis strikes, for it truly is a matter of ‘when,’ not ‘if.’”

In separate comments, Barks said, “Communicating effectively in risky, stressful situations demands planning and practice. While it is impossible to predict the exact nature of the crisis a business might encounter, the need to anticipate, act, and react remains paramount.”

“Beyond the Bottom Line: 20 Ways to Reduce Reputational Risk” draws upon recommendations from sources including the Federal Reserve Bank of Philadelphia, material from the Harvard Business Review, and lessons from the U.S. military.

Additionally, each of the 20 scenarios contains at least one link to a pertinent resource on the Barkscomm.com web site.

“’Beyond the Bottom Line’ is by no means the end-all and be-all reputational risk resource,” Barks acknowledged. “The intent is to frame things from a communications perspective, and to give executives tools that can help them overcome risk-laden conditions. If it helps just one organization successfully confront it reputational challenges, it will have done its job.

“If it spurs meaningful, civil debate and discussion that furthers our understanding of reputational risk, that’s a victory, too,” he continued.

As with all of his research publications, Barks makes his new paper available at no charge on his web site.

Ed Barks zeroes in on the messages and skills that executives need on a daily basis in order to persuade and inform their publics. They gain an enhanced reputation, more confidence, added opportunities for career advancement, and realization of long-term business goals. The former radio broadcaster is the author of The Truth About Public Speaking: The Three Keys to Great Presentations, and community organizer at The Media Training Blog. As President of Barks Communications since 1997, he has taught nearly 5000 business leaders, association executives, and other experts how to succeed when they deal with the media, deliver presentations, and testify before government officials.

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