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Hindsight [Risk Management]

By Anonymous
Proquest LLC

The Power of Reputation

"80% of firms will lose 20% of their value once every five years due to reputational issues," states a recent report by research firm Oxford Metrica and insurance broker Aon.The study also notes that companies that "open up more following a crisis and tell a richer, deeper story are valued more highly, increasing share price by 10% on average over a year."

One case of this approach to a reputation-harming incident can be found in Apple, whose CEO apologized to iPhone users after replacing a popular Google Maps app with a widely scorned, halfbaked map app of its own. "At Apple, we strive to make world-class products that deliver the best experience possible to our customers," wrote Apple CEO Tim Cook in a letter. "With the launch of our new maps last week, we fell short on this commitment. We are extremely sorry."

Presuming Apple is able to withstand this maps fiasco largely unscathed, it may help prove what many branding experts believe: there is no better way to survive a reputational crisis than having a great brand to begin with. (Just ask Toyota.] If this is the case, then these 50 companies atop Interbrand's recently released 2012 list of the "best global brands" are likely ahead of the curve.

1. Coca-Cola

2. Apple

3. IBM

4. Google

5. Microsoft

6.GE

7. McDonald's

8. Intel

9. Samsung

10. Toyota

11. Mercedes-Benz

12. BMW

13. Disney

14. Cisco

15. HP

16. Gillette

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17. Louis Vuitton

18. Oracle

19. Nokia

20. Amazon

21. Honda

22. Pepsi

23. HbM

24. American Express

25. SAP

26. Nike

27 UPS

28 IKEA

29. Kellogg's

30. Canon

31. Budweiser

32. J.P Morgan

33.HSBC

34. Pampers

35. Nescafe

36. eBay

37 Zara

38. Gucci

39. Volkswagen

40. Sony

41. Phillips

42. LOréal

43.Accenture

44. Thomson Reuters

45. Ford

46. Heinz

47 Colgate

48. Goldman Sachs

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49. Dell

50. Citi

Source: Oxford Metrica, Aon, Apple, Interbrand

While 82% of 200 health-care companies that responded to a recent survey have business continuity and disaster recovery plans, personnel issues remain a major concern for the industry. Industry leaders are specifically concerned about finding qualified candidates, training current employees and maintaining workers' safety. As a result, 52% have hired new employees in the past 12 months, and 42% plan to hire in the next 12 months.

Source: Travelers

EUROPEAN BUSINESSTRAVEL

In Europe, five markets - Germany ($50.8 billion), the UK ($40.2 billion), Italy ($32.9 billion), France ($1 7.9 billion) and Spain ($1 7.9 billion) - historically have accounted for nearly 70% of business travel spending, which is expected to drop 2.2% (to $177 billion) continent-wide in 201 2 before rising 1 .4% in 201 3.

Source: Global Business Travel Associations

The underlying forces HR pros believe will have the bluest impact on talent requirements in the future

1. advances in technology (42%)

2. globalization (41%)

3. shifts in labor demographics (38%)

4. customer needs (38%)

5. competition (38%)

Source: "Global Talent 2021, " Oxford Economics

The skills HR pros say will be in high demand over the next five to ten years

1. ability to consider and prepare for multiple scenarios (54.8%)

2. digital business skills (50.6%)

3. ability to manage diverse employees (49.1%)

4. "co-creativity" and brainstorming (48.3%)

5. innovation (46.0%)

6. understanding international markets (45.7%)

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7. ability to work virtually (44.9%)

8. relationship building (including "virtual teaming") (44.9%)

9. dealing with complexity and ambiguity (42.9%)

10. managing paradoxes, balancing opposing views (40.9%)

Copyright: (c) 2012 Risk and Insurance Management Society, Inc.
Wordcount: 577



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