If Brand Identity Protection is not a consideration you have articulated or have SMART objectives for in your business, you may not have thought about or sufficiently addressed the following key brand risk management questions.
- What is the single worst thing that could happen to your company?
If you are food service organisation, this requires clearly articulating and communicating to the organisation at large. The understanding and aversion to the fundamental risks to your business and brand, which are one and the same, should be embedded in your organisation’s DNA. You must have a risk framework revolving around the fact that somebody could die from consuming your products. It’s brutal but it’s true. Recent events in the press with high profile organisations have highlighted that these risks or at least how the communications are managed in the event of these risks manifesting as issues, may not have been managed optimally. Most likely, the risk scenarios were not operationally tested, but organisations also run agency risks with regards to employees as well as incremental risk management failures.
- What types of events could create havoc for your business?
It’s human nature to expend our energy on the most likely risks, however we must have a robust plan in place for the risks of greatest severity no matter how low their likelihood and regardless of risk transfer mitigations in place. As important is the communications and reputational risk strategies in place.Our risk management approach will enable you to confront risks with the confidence that comes from identifying and planning for your business’s unique risks and ensuring that there are systems in place not just to combat these and survive these eventualities but also rise above them.
There are several reasons why risk management in organisations fail, not least reliance on transfer risks, but as a brand management company, we make Brand Risk Management an area of particular focus and are unique in this.
Taking a long term critical and prudential view of your risk horizon is crucial to your Operational Readiness model. Iconify can provide clients with an Integrated Brand Risk Management and Reputation Management framework, perfected in global banks and organisations. These detail planning and prioritisation of risk scenarios, process risk models and holistic Readiness Strategy. and Communications to ensure continuity and that the correct responses are deployed to defray adverse scenarios.