The Reputational Risks That CEOs are Most Worried About
- May 13, 2019
- Posted by: Chase Gregory
- Categories: Emerging Technology, Manufacturing, Public Relations
Reputation is everything when it comes to building and maintaining a successful business. CEOs understand this well and are always on the lookout for potential risks that could damage their company’s reputation. A recent survey conducted by Deloitte shows that there are three major reputational risks CEOs are most worried about: security risks, supply chain risks, and crisis response capabilities.
Security risks are the most pressing concern for CEOs. With more employees working remotely, the risk of data breaches has increased significantly. Even though 89% of C-suite executives believe their employees will do everything to safeguard information, about 22% say their employees are unaware of offsite data policies. The most vulnerable devices are company mobile phones, company laptops, and USB storage devices.
Supply chain risks are also a major concern for CEOs. Companies rely on third-party vendors for raw materials, logistics, and other services, making it difficult to maintain the quality of their products or services. CEOs worry about government actions such as over-regulation, trade conflicts, geopolitical uncertainty, and protectionism that could disrupt their supply chain.
Crisis response capabilities are the third major concern for CEOs. In the event of a crisis, companies need to be prepared to make emergency decisions quickly. However, many companies lack the necessary data to make informed decisions. For instance, 95% of CEOs believe that customer and client data are essential during a crisis, but only 15% of companies are collecting such data.
To mitigate these reputational risks, companies need to invest in public relations (PR) strategies. Full Scale Marketing can help businesses build and maintain a positive reputation by implementing a robust PR campaign. The company can help CEOs identify potential risks, create crisis management plans, and improve their supply chain management.
In conclusion, the reputational risks CEOs are most worried about include security risks, supply chain risks, and crisis response capabilities.To mitigate these risks, companies need to invest in PR strategies to build and maintain a positive reputation.