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Managing reputational risk: how to plan and adapt for public reaction

In today’s volatile environment, businesses are under constant pressure to adapt to the rapidly changing marketplace. Change happens, but how do you manage a switch that will likely anger your customers?

Hurricane Sandy
Plan and adapt

Real Business interviewed Lootok’s CEO & President, Sean Murphy, about the challenges that companies face in managing their reputational risk, and how to manage the consequences of getting caught off guard. Because it’s difficult to predict how the public will perceive an issue, it’s critical for companies to plan for various potential reactions through contingency planning and crisis management training.

Sean says, “At the end of the day, perception is reality. It doesn’t matter if you’re right or wrong, or if you think it’s the right strategy or not.”

Read the rest of the interview here.