Risk
So often in talking to boards about risk, the directors can focus quite
well on those risks which are usually covered by insurance or which have
minimal reputational impact, but rarely do they consider the areas of
risk that might cause the most damage to the organisation’s reputation.
I have a list of 181 potential areas of risk an organisation might encounter but rather than bore you with all of them, here are 25 areas which could damage, and sometimes severely, your organisation’s reputation and possibly survival.
Tax
Fraud
Exercise of discretion or power
Quality/controls and reliance on outside providers
Sponsor risk
Continuity
Management/leadership
Legal compliance
Investment strategy
Fellow board members
Systems
Disaster
Communication
Reporting
Document destruction
Conflicts of interest
Varying from strategy
Succession planning
Scenario planning
Technology
Change readiness
Government policy
Capital availability
Organisational structure
Social media
I have a list of 181 potential areas of risk an organisation might encounter but rather than bore you with all of them, here are 25 areas which could damage, and sometimes severely, your organisation’s reputation and possibly survival.
Tax
Fraud
Exercise of discretion or power
Quality/controls and reliance on outside providers
Sponsor risk
Continuity
Management/leadership
Legal compliance
Investment strategy
Fellow board members
Systems
Disaster
Communication
Reporting
Document destruction
Conflicts of interest
Varying from strategy
Succession planning
Scenario planning
Technology
Change readiness
Government policy
Capital availability
Organisational structure
Social media