Organization’s Reputational Risk: Emergence Factors and Prevention Possibilitites (Sociological Aspect)
I.S. VAZHENINA, S.G. VAZHENIN, V.E. YUSHCHUK
Institute of Economics, Ural Branch of the Russian Academy of Sciences, Moskovskaya st., 29, Yekaterinburg, 620014, Russia
Keywords: риски, репутационные риски, деловая репутация, репутационные потери, устойчивость репутации, конкурентная среда, конкурентные преимущества, risks, reputational risk, goodwill, reputational loss, reputation resilience, competitive environment, competitive advantage
Abstract
The article examines the problems of organization’s reputational risk, reveals its essence and structure. The ability to preserve business reputation resilience has become particularly relevant in the light of intensified competition, its new forms and methods emerging, intangible assets becoming more important, information resources in the digital economy growing in quality and quantity, etc. Having analyzed the results of our 2018 sociological survey in the Ural and Volga federal districts, we establish a position towards the prevalence of reputational risk and the ability of organizations to remain resistant to it. The article identifies the most significant causes of reputational loss or reputational crises. A thesis is argued that the absence of a specific system to protect goodwill can lead to reputational crises that inflict substantial damage to the organization’s reputation and reduce its competitiveness. We highlight principles of ensuring reputation resilience in an organization and its ability to work with reputational risk. The article especially focuses on the need to use competitive early warning technology, as well as to identify the most effective measures, including proactive ones, and actions to protect business reputation. We consider certain issues of reputational vulnerability assessment and recognize prerequisites for its decline in a modern competitive environment.
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