Ruder Finn has launched “RiskSTAT”, what it calls the reputation risk management system to help corporations “enhance their level of preparedness in the face of evolving risks to share price, revenues and reputation”.
RiskSTAT is a cloud-based resource that allows organisations to identify potential risks in real time, assess and predict their potential impact.
It has three tiers of activation. First, the tool customises risk management protocols based on client needs, identifying obvious and non-obvious reputation risks with associated decision-making and response guidelines.
Second, the customised protocols are integrated into a dedicated client smartphone app on iOS and Android that allows users to produce real-time reports and send images, video and other relevant materials from the field to designated crisis team members.
Third, the Ruder Finn team has on-boarded team members through an immersive, three-dimensional crisis simulation, using its proprietary SONAR platform to test every aspect of the RiskSTAT system.
“We have seen an extraordinary series of high profile crisis situations in the past 12 months where, time after time, senior management were widely criticised for poor crisis management capabilities,” Charles Lankester, EVP of global reputation & risk practice at Ruder Finn said.
Lankester explained the problem is that reputation risk management is too often “a box-ticking exercise”.
David Ko, SVP of RFI Studios Asia, the digital division of Ruder Finn, added that reputation is now a primary global business risk but most companies are unprepared and under-resourced in the event of a problem.