Asked which of a list of risk areas have the most impact on their business strategies, 40% of global respondents to a Deloitte survey cited reputation, making it their leading concern ahead of threats to their business models (32%), economic trends (27%), and competition (also at 27%). Those are the views of more than 300 C-level executives, board members and specialized risk executives at large companies, with reputation overtaking brand, 2010′s leading risk. Social media is fueling the concern over reputation, according to the study’s authors.
That’s because reputations that take great efforts to build can be quickly challenged by social media mentions, leaving companies at a far greater risk than ever of losing control of the conversation. Read the rest at MarketingCharts.