Risk, Reputation and Corporate Responsibility and Sustainability
Risk management sits at the heart of the CR&S role. Every social, environmental or governance-related organisational impact carries the potential to harm people, breach obligations or damage reputation. This technique introduces the five categories of CR&S risk, how to assess and prioritise them, and the link between risk and reputation.
Technique Overview
Risk, Reputation and Corporate Responsibility and Sustainability Definition
CR&S risk is the potential for an organisation’s social, environmental or governance-related activities (or failure to manage them) to result in harm to people, the environment, the organisation’s finances or its reputation. CR&S risk differs from conventional operational or financial risk in that its consequences are often non-linear: a contained incident can trigger disproportionate reputational damage if it conflicts with the organisation’s stated values or stakeholder expectations. Managing CR&S risk requires identifying not only what could go wrong, how it would be perceived and by whom.
Risk, Reputation and Corporate Responsibility and Sustainability Description *
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Business Evidence
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Business Application
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Further Reading
Risk, Reputation and Corporate Responsibility and Sustainability web and print resources *
Risk, Reputation and Corporate Responsibility and Sustainability references (4 of up to 20) *
- BBC (2015) Volkswagen: The scandal explained. www.bbc.co.uk/news/business-34324772
- BBC (2020) Boohoo: Leicester factory worker paid £3.50 an hour, report says. www.bbc.com/news/business-53305006
- BP (2010) Deepwater Horizon Accident Investigation Report. www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/sustainability/issue-briefings/deepwater-horizon-accident-investigation-report.pdf
- Ethical Trading Initiative (ETI) (2014) Rana Plaza: Lessons Learned. www.ethicaltrade.org/resources/blog/11-years-rana-plaza-collapse
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