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Reputational Risk Explained: Effective Strategies to Build Trust and Credibility

BirdEye

Reputational risk is potential damage to an organization’s image caused by negative publicity, scandals, or crises that can impact revenue, brand value, and stakeholder loyalty. Example: Toyota’s response to a major recall in 2009 showcased a well-prepared crisis management plan. This was a massive breach of trust.

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Your Customer Experience is Superficial unless you have the “Q”

CX University

The liquid within lithium ion batteries is highly flammable, which explains other phone explosions and issues over time , including Nokia issues in 2009 and an iPhone giving someone third-degree burns in 2015. The open market impact was disastrous in brand value, perception, customer experience and trust. Samsung lost in 2016.