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As a number of recent high profile examples demonstrate damage to a business’ reputation can strike without warning and cause significant long-term loss of value. Such is the growing recognition of the risk of reputation damage that it is now regularly identified in investor communications, financial reports and regulatory filings as one of the most significant risks to future results.
There are a variety of measures businesses can take to mitigate against the risk from reputational damage and senior management need to ensure their businesses are availing of these protections and are not unnecessarily exposed. We help our clients reduce their risk exposure well in advance of the emergence of any reputational challenges by identifying critical reputational risks and designing a strategic plan to minimise damage in the event of a crisis.
We assemble multidisciplinary teams of our industry leading experts who work closely with clients to ensure they are prepared to immediately and effectively deploy this tailored strategy. This typically involves the identification of a crisis management hierarchy, the appointment of emergency response teams and the delivery of training, including crisis simulation exercises.
In our experience where a reputational crisis occurs the extent of the damage caused to the business will usually be determined by the strength of the strategic plan in place and the speed at which it is implemented.
If a reputational crisis strikes we work with management to oversee the implementation of the strategy, contain the damage as quickly as possible, protect confidential information and advise on critical time sensitive legal requirements such as market announcements, regulatory notifications and law enforcement reporting. Once the crisis has subsided we advise on the implementation of change in the business to restore value and ensure the risk of a repeat crisis is minimised.
Reputational challenges can strike any business at any time and the consequences of unsuccessfully dealing with these challenges can be severe and can potentially lead to the total and irreversible destruction of the business’ value. When a reputational crisis does strike management will very often be required to deal with critical reputational issues of which they have no prior experience. We have helped many of our clients prepare for and successfully navigate these challenges and whatever the reputational challenge our clients face we have the skills and experience to help.
The following are examples of our recent work: