Crisis Prevention

Tom Schermer ()

Chapter Chapter 8 in Reputational Crises Unspun, 2021, pp 141-148 from Springer

Abstract: Abstract A reputational crisis without stakeholders is not a crisis, for without afflicted stakeholders, interest groups, politicians, or media, there is no one to hear of an offending action. This means that arguably stakeholders are as important as the company in a reputational crisis. Thus if we treat the stakeholder map accordingly, it will have an impact on crisis prevention. Through employing this viewpoint, it becomes clearer that crisis prevention can be more focussed on stakeholders and that we can more effective in addressing the stakeholder related elements. For example; managing stakeholder relationships, stakeholder monitoring, media surveillance, and ethical data management. Each of these strategies will be enhanced through developing genuine relationships with stakeholders, and the organisation may likely benefit from having a strong opponent who will highlight potential reputational crises and operational pitfalls. Furthermore, employing these stakeholder orientated strategies will aid in reducing the likelihood of a crisis occurring, reduce the extent of crisis impacts, and creates good corporate governancegovernance practices through engaging with stakeholders and issues as they arise, or before they arise.

Keywords: Reputational crises; Stakeholders; Media; Social media; Monitoring; Crisis prevention (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-5130-4_8

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DOI: 10.1007/978-981-16-5130-4_8

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