COSMO held the seminar, “Proactive Reputation Risk Management,” on November 15 spotlighting its renewed “Reputation Risk Management” core offerings.
As the pharmaceutical and medical device industries grow increasingly complex, demand for reputation risk management also increases. Even risk-averse companies have inevitably faced incidents.
Instead of approaching communication as an add-on service, COSMO recommends proactive reputation risk management, which involves strategic actions based on two cornerstones: The first cornerstone is to upgrade “risk intelligence.” It is important to take a data-driven approach to quantify reputation, including potential risks, on a regular basis. Visualizing specifics and how to fill which gaps illuminates clear strategic directions and enables planning of concrete actions.
The second cornerstone is improving the “risk management” process. This involves proactively identifying risks and bolstering resilience. A bird’s eye view of the whole process is needed to ascertain internal alignment of risk awareness, clarity of governance, and team responsibilities, and training standards.
