Click Fraud Protection

Connecting...

CIMA: Businesses put reputation ahead of profit

News | Long-term reputation | Reputational risk | Chartered institute

W1siziisijiwmtcvmduvmdqvmtavmduvmtevmjqvynvzaw5lc3nlcy1wdxqtcmvwdxrhdglvbi1hagvhzc1vzi1wcm9maxquanbnil0swyjwiiwidgh1bwiilcixmdawedqwmcmixv0

Many companies put reputation ahead of profit, one study has suggested.

The Chartered Institute of Management Accountants (CIMA) found that 76 per cent of respondents said their organisations are prepared to lose money in the short term, in order to protect their long-term reputation.

Recruiters need to ensure that people who search for jobs look for candidates with an awareness of the market and the importance of maintaining performance standards.

Some 76 per cent of CGMA designation holders around the world now see more focus on reputation risk in their industries and noted three primary reasons for the trend.

These were market demand for more transparency, reputational failure at a leading organisation and the increasing popularity of social media.

Around the world, 65 per cent of CGMA designation holders claimed their organisations often or always have financial implications of reputational risk when making decisions, while nearly half (44 per cent) said their organisations have rejected projects that made financial sense.

Tanya Barman, head of ethics at CIMA, said: “Organisations are increasingly recognising the need to take reputational risks very seriously if potential crises are not to turn into catastrophes. 

“After all, nearly a quarter of businesses surveyed admitted to experiencing reputational failure in the past, and the widespread use of the internet and social media casts a harsher spotlight than before. However, what is very worrying is the revelation that businesses still appear to be struggling with how they go about managing non-financial reporting in this area.”

Ms Berman went on to say that finance directors and leaders need to start moving away from focusing primarily on the short term.

He advised them to start collecting, reporting and monitoring reputational risk information.


Posted by Jon Aspinell on 8th April 2013

SHARE

RECENT CONTENT
W1siziisijiwmtcvmdcvmtavmtavndkvmduvmta4l1cxc2laaulzswpjd01uy3znrfv2twpzdk1urxznakl2turndk9euxpmmezqwxkxdgfxlmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

Part-Qualified Accountant

Kingston upon Thames, Surrey

£37,000

This customer is a leading tax & accountancy firm looking to hire a customer focused Corporate Tax and Personal T...

READ MORE
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

IT Manager - Kent - £40,000

Maidstone, Kent

Up to £40000 per annum

IT Manager - Kent - £40,000 The Ashdown Group has been engaged by a Maidstone based FMCG organisation to assist them ...

READ MORE
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

QA Automation Team Leader

Kingston upon Thames, Surrey

£80,000

This client is a global leading software firm going through continued growth & expansion. They have an urgent req...

READ MORE
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

Systems Administrator - Surrey - £40,000

Weybridge, Surrey

£32000 - £40000 per annum

Windows Systems Administrator with Networking - Weybridge, Surrey - up to £40,000. A globally diverse employer, with ...

READ MORE
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

Media Buyer

London

£50,000

A fast growing business unit, within a multi billion pound entertainment business, is looking for a mathematical and ...

READ MORE
W1siziisijiwmtcvmdqvmjqvmtevmzmvndavnty5l21hcmsxlmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

Senior Marketing Executive

London

£50,000

To be successful within this position, it is essential that the candidate has experience of marketing an online poker...

READ MORE
W1siziisijiwmtgvmdevmjqvmdgvntkvmtavndyyl2ltywdlmtqtbwlulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mcnuzsjdxq
Insight

Can HR tech ease workplace conflict?

Workplace conflict is mostly unavoidable - particularly when businesses hire strong-minded talent with big ideas. Ego...

READ STORY

W1siziisijiwmtgvmdevmtyvmdgvntcvmzcvmtk5l1dlbgwxyi1taw4uanbnil0swyjwiiwidgh1bwiilcizmzv4mtcwi25lil1d
Insight

What to prioritise in your employee experience

The candidate experience has long been valued by employers looking to attract fresh talent. Now, however, companies a...

READ STORY

W1siziisijiwmtgvmdevmtavmtyvmdavntmvmtyzl0ltywdlntatbwluicgxks5wbmcixsxbinailcj0ahvtyiisijmznxgxnzajbmuixv0
Insight

What can HR expect in 2018?

HR departments are set to face many new challenges in 2018, from the technological to the traditional. Among the most...

READ STORY

W1siziisijiwmtcvmtevmjgvmtcvmdevndqvnzivaw1hz2uyni1taw4ucg5nil0swyjwiiwidgh1bwiilcizmzv4mtcwi25lil1d
Advice

From communication to drive: The importance of soft skills

Soft skills are often difficult to quantify, yet they can become an absolute necessity for your business to reach its...

READ STORY

W1siziisijiwmtcvmtevmdgvmtavntqvmzivotuvaw1hz2uxns1taw4uanbnil0swyjwiiwidgh1bwiilcizmzv4mtcwi25lil1d
News

Only one in three workers say their employers offer training

Just one-third of workers report that their employer offers regular training opportunities, a new poll by the Trades ...

READ STORY

W1siziisijiwmtcvmtevmdgvmtavmzivntuvndgzl0ryaw5rlw1pbi5qcgcixsxbinailcj0ahvtyiisijmznxgxnzajbmuixv0
Advice

How can you encourage an inclusive work environment?

Inclusivity in the workplace is an ideal most astute businesses strive for. Making employees feel comfortable and val...

READ STORY