Corporate Risk Management

Corporate risk management strategies are developed to address the things that keep you awake at night – the issues that could potentially damage your organisation.

This could include a cyber attack or data breach, a reputation crisis, a workplace accident or a social media crisis. In the case of one of our clients, it was a hostage situation on the other side of the world.

These issues can undermine the reputation and expertise an organisation has worked hard to create. As has often been said, a reputation takes years to build, minutes to ruin.

Taking calculated risks are important to grow an organisation, but effective corporate risk management is smart way of managing those risks if something does go astray. Purple is your partner for identifying and managing risk areas, and laying out the communications protocols if a crisis emerges.

With our deep experience in investor relations, corporate affairs and stakeholder engagement, government relations and a business-wide understanding of social and digital communications, Purple has the knowledge to help develop strategies that protect your brand against damage, or restore confidence after a crisis.

Corporate risk and technology

Technology is playing an increasing role in risk management but it is not a set-and-forget solution because what may seem reasonable now might not seem reasonable in the future. Technologies change, platforms update, and communications expectations evolve. It’s important organisations are mindful of their changing operating landscape and can mitigate potential issues.

Risk areas to your business are identified during a strategy session with Purple and we implement brand risk management tactics to mitigate the severity of the impact, should any of those risk areas become a problem.

Purple also prepare communications strategies tailored to your business that will allow you to respond to threats identified on your board’s risk register such as data breaches, health and safety breaches or personnel issues.

Strategies to mitigate brand threats

Key to corporate risk management is identifying potential risks, then preparing to minimise or avoid those risks. Purple will work proactively with your business to pin down problem areas and limit the severity posed by potential threats.

Managing risk factors may include strategies to reduce or avoid the risk, but also how to react should an issue occur. Good communications after an issue tends to benefit an organisation. Badly applied communications tactics following an incident can severely reduce trust and faith in a brand.

Time is critical to limiting damage to a company’s brand during a crisis and Purple’s experienced crisis management professionals will work alongside you to minimise the fallout from problems.