Reputational Risk Explained: Effective Strategies to Build Trust and Credibility
BirdEye
OCTOBER 6, 2023
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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