Transparency Reshaping the Risk Management Landscape

It’s a whole new ballgame when it comes to protecting a business’ reputation, according to Steven Minsky, CEO of enterprise risk management software provider LogicManager.

While regulators may be struggling to keep up with the times, the public isn’t feeling quite so constrained. As the recent Facebook debacle shows, consumers and investors can swiftly throttle a business’ reputation when they suspect the company isn’t playing

Not long ago, employee comments could be controlled internally and managed externally

Minsky believes that an integrated approach to risk management is critical for protecting an organization’s reputation. “As we’ve seen with Facebook, when public trust is violated there is a direct impact on a company’s share price,” he said. “Even in instances where no laws have been broken, in the see-through economy companies must consider the consequences of their actions with regards to their customers and shareholders.”