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

LATEST JOBS
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

IT Project Manager - Web/CRM - Kingst...

Kingston upon Thames, Surrey

£55000 - £60000 per annum

IT Project Manager - Web/CRM - Kingston, Surrey A fantastic opportunity has arisen for an experienced IT Project Mana...

READ MORE
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

Network and Security Engineer

City of London, London

£35000 - £45000 per annum + good benefits

A successful and growing media company is seeking a Network Infrastructure and Security Engineer. This specialist rol...

READ MORE
W1siziisijiwmtcvmdqvmjqvmtevmzmvndavnty5l21hcmsxlmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

Digital Marketing Manager - Ashton-un...

Ashton-Under-Lyne, Lancashire

£35000 - £45000 per annum

Digital Marketing Manager - Ashton-under-Lyne - £45,000 Online Marketing Manager (SEM, Social Media, SEO, Analytics) ...

READ MORE
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

IT Support Analyst - central London -...

City of London, London

£27000 - £30000 per annum

IT Support Analyst (1st, 2nd and 3rd line) - Central London - up to £30,000 plus benefits An exciting opportunity for...

READ MORE
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

IT Support and Network Engineer - Cit...

City of London, London

£28000 - £30000 per annum

IT Support and Network Engineer - City of London £30,000 plus 10% pension, 25 days holiday and other great benefits A...

READ MORE
W1siziisijiwmtcvmdcvmtavmtavndcvntgvmjy1l1cxc2laaulzswpjd01uy3znrff2twprdk1urxznelv2turrdk5etxhmm2rwy21vdwfulmpwzyjdlfsiccisinrodw1iiiwimzm1ede3mfx1mdazyyjdxq
VACANCY

IT Support Analyst - Isle of Sheppey,...

Queenborough, Kent

£19000 - £21000 per annum

IT Support Analyst (1st & 2nd line) - Isle of Sheppey - up to £21,000 plus benefits Great opportunity for a bright in...

READ MORE
W1siziisijiwmtgvmdqvmtgvmtmvmjmvnduvnza0l1jlbw90zs1taw4ucg5nil0swyjwiiwidgh1bwiilcizmzv4mtcwi25lil1d
Insight

How can you ensure cohesive communication with a team of remote workers?

Remote working is becoming increasingly adopted by organisations across the globe - whether that takes the form of an...

READ STORY

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