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Better Ways for Boards to Care About Reputation Risk

Richard M. Steinberg | April 21, 2015

Few things are more important than one’s reputation, whether a company’s or a person’s. How one is viewed in the marketplace, and by those with whom we come into contact directly, affects our well being. In the business environment a positive reputation provides tremendous benefits, including attracting and retaining top human talent, business partners, and the most desired customers and clients. It affects dealings with suppliers, lenders, and shareholders, among many more.

Certainly the words of Warren Buffett are on point: “It takes 20 years to build a reputation and five minutes to ruin it.” We can look to what happened to companies...

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