Many types of risk concerns have emerged more into our thinking in recent years, including the biggest one of all – the coronavirus pandemic, which has affected every aspect of society around the world. We are much more aware and concerned about the risks to ourselves, our organization and our community. Reflecting this, risk management will be treated as a much more important business activity in future. And it will play a larger role in good communication practice.
Generally, there are considered to be main types of broad business risks:
Business risk is defined as the chance of something happening that will have an impact on business objectives. Business risk is measured in terms of likelihood and impact. Some people think public relations practice doesn’t involve much risk, which they think is more about operational matters such as safety and security.
However, there is an element of risk in all public relations activity. Think of the risks to the organization inherent in a bad reputation, in controversial public issues, corporate crises, sponsorships turning bad, poor counsel to senior management, hyped product claims in marketing communication, use of celebrities in marketing, and in corporate events that go wrong. Many risk management experts believe that reputational risk is one of the most important – a PR risk that has major dollar value.
You can read the full article in a convenient Kindle collection of 12 top articles on annual communication planning and strategy for only $11.99 including tax. Click here to buy.
By Leandro Herrero CEO of The Chalfont Project. Building Remarkable Organisations and Social Movements powered by Viral Change ™.
By Nicole Garrison A few years ago, virtual team meetings were common only for IT firms and startups. But COVID-19
[Framing of concepts is vital to successful leadership communication. Frames provide people with a quick and easy way to process