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Article 11 May 2021

How to anticipate reputational risks using virtual scenarios and automation

 

In this second entry in the “Resilience” series, we tackle the challenges of trying to manage or control the impact of reputational risks on business continuity and sustainability.

In the first article, we discussed preventing these risks through human and AI anticipation. Now, we want to address the challenge of preparing for uncertain events by using technology to plan scenarios and program contingencies.

“Uncertainty” is the fundamental quality of any risk, with complexity being an additional factor in reputational risks in particular. As such, two extra schools of strategic thought should be applied alongside conventional risk management techniques: Scenario planning and problem solving. In both cases, the focus is on enabling companies to act in ways that go beyond merely defensive and short-term responses of a finance-focused nature.

In the modern world, thinking only about risks from a threat perspective does not help build more resilient organizations. Rather, it weakens the ability to adapt to and recover from disruptive changes.

We must broaden our approaches, accept uncertainty, and think differently in order to avoid getting stuck in an environment that anthropologist Jamais Cascio christened BANI, standing for Brittle, Anxious, Nonlinear, and Incomprehensible. As we are reminded by LLYC executives Cleber Martins and Adelia Chagas, this is a BANI context where “all paths are open to opportunities.”

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Iván Pino
Partner and Senior Director of Crisis and Risks at LLYC
Journalist with a degree in Information Sciences from the UCM. He holds a Master's Degree in Sustainability and Corporate Responsibility from UNED-UJI and has more than 20 years of experience in Communications and Reputation. He managed communications of the port authorities of Ferrol-San Cibrao and A Coruña. He has advised reputational risk management to companies such as Inditex, Mercadona, Repsol or CaixaBank, among other large companies and institutions. His specialty is focused in communication and digital marketing. Iván is co-author of "Claves del nuevo Marketing. Cómo sacarle partido a la Web 2.0" (2009, Gestión 2000) and editor of the first ebook in Spanish on social media communication: Tu Plan de Comunicación en Internet. Step by Step (2008). Teaching and providing lectures is also a part of his job. He has taught in the Customer Experience Management Executive Program at IE Business School, and in Corporate Communication Masters at Universidad Carlos III, Universidad Complutense de Madrid and Universidad de Cantabria.
Ibo Sanz
Global Senior Manager of deep digital business strategy
Ibo holds a Bachelor’s Degree in Business Administration from Rotterdam Business School, a certification in AI Elements from Helsinki University and has a long track-record as a business developer in the telecommunications sector at major multinationals. During his eight years at Telefónica, he pushed through the group’s content proposal and took part in the process to change the business model from voice to data. In the 11 years he worked at Vodafone, he headed up the introduction of technology solutions and platforms in m-commerce services aimed at its client base. Also noteworthy was his time at the consultancy firm Gartner, where he worked on analyzing the impact of technological disruption on the income statement of a large number of companies.
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