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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
Pino is a journalist, with a degree by the UCM in Information Sciences and a Master’s Degree in Sustainability and Corporate Responsibility by the UNED-UJI. He has gathered 20 years of experience in communication and corporate reputation and has majored in digital communication. He is the co-author of “Claves del nuevo Marketing. Cómo sacarle partido a la Web 2.0” [Keys to New Marketing. How to get the most out of the web 2.0] (2009, Gestión 2000). He edited the first ebook in Spanish on social media communication, “Tu Plan de Comunicación en Internet. Paso a Paso” [Your step-by-step internet communication plan] (2008). Also, he is a lecturer and postgraduate teacher at the IE Business School, Carlos III University of Madrid and Complutense University of Madrid.
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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