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IoD NI: ‘Rewards are there for companies that focus on reputations’

Businesses that focus on building a strong reputation and preparing for times of crisis will reap the rewards, the Institute of Directors Northern Ireland (IoD NI) has said.

The leading business organisation is hosting a Reputation & Crisis Management Seminar next month as part of its Connect and Influence series, which will focus on key drivers of successful recovery from damaged reputation.

The workshop, taking place at Riddel Hall on 23rd October, will be delivered in partnership with law firm Eversheds Sutherland and communications experts ReputationInc, whose Group CEO John Mahony will be among a panel of speakers.

IoD NI National Director, Kirsty McManus said: “According to a study by the World Economic Forum, on average, more than 25% of a company’s market value is directly attributable to its reputation.

“Reputation is far too important to be ignored or underappreciated. Building a strong reputation and preparing for times of crisis, helps both to win new business and enables organisations to cope when faced with difficulties.

“Many company directors identify reputation risk as their key business challenge but very few know how to address this issue.

“This workshop aims to address the knowledge gap amongst directors in relation to practical steps required in a crisis.

“Both members and non-members are invited to attend this event, which presents a valuable opportunity to hear and learn from leading experts in the fields of law and communication.”

Lisa Bryson, Partner at event sponsor Eversheds Sutherland, added: “Eversheds Sutherland welcomes this opportunity to partner with the IoD through the Connect and Influence seminar, as we seek to highlight the importance of strong reputation and crisis management from the legal perspective.

“It is an issue that can have real business repercussions and a major impact on the bottom line.

“The primary responsibility for safeguarding a company’s reputation must lie with its directors, meaning that they must be well versed in responding in a calm and measured manner to events which may have the potential of having a negative impact on their organisation’s reputation.

“By sharing our collective expertise and providing directors with the necessary steps and information, we hope to equip and prepare them to be able to manage and minimise the potential negative fallout of any crisis their business may face.”

The event will also hear from Eversheds Sutherland Partners Marie McGinley, who is Head of the firm’s Intellectual Property, Technology, and Data Protection departments, and Matthew Howse, who heads up its Litigation team in Belfast.

For more information about the workshop, speakers and how to book a place visit www.iod.com/ni.