“Reputational or brand damage” is often believed to be the top global risk faced by businesses.
The unpredictable nature of such crises in an age of 24-hour news cycles and instant social media poses a serious threat to a company’s hard-earned global image.
However, with proper planning and education, there are opportunities to rebound from negativity and even turn critics into advocates.
TCP’s Thought Catalyst in International Business, @TonyAbad, advises companies in such situations to do more research to figure out where they went wrong and take corrective action.
He also advises companies to prepare for unforeseen disasters by anticipating the worst and taking legal and other measures to prepare for it beforehand.
Is your business prepared for the worst?
About Tony Abad
Tony Abad, based in Manila of the Philippines, is the CEO of TradeAdvisors which provides technical advice and assistance to corporations, business enterprises, government, and academic institutions on matters of international trade policy and regulation. He is a reputable international trade law expert, Professor of Law in university, as well as the Chairman for the Philippines of International Chamber of Commerce. He is a frequent speaker for big global business events including WTO, EU, ASEAN Leadership Forum, etc and program host of Bloomberg TV Philippines.