Future Trends of Corporate Reputation Management

Abstract

Liehr and Storck reveal a connection between corporate risk management, the need for management accounting, the challenges caused by social media, and the trend towards nonfinancial reporting. As reputational risks mostly derive from perception gaps, a consistent tracking of media and stakeholder analysis is crucial. The authors thus illustrate a new plea for implementing controlling processes. With the success of social media, communicators are facing another risk: they have to adapt to new rules of reputation building and to deal with stakeholder expectations. Liehr and Storck describe the transparent reporting of nonfinancial data (as described by Frank and Horst in article three) as one possible answer to these new developments.