| Ask any CEO of a major venue, event or sport; their | | | | using the brand. (i.e. whether the sport or venue is |
| organisation's reputation, its brands and its | | | | safe to use). |
| relationships are some of their most important assets. | | | | Our relationships are critical; with our customers who |
| A loss of these can spell disaster for the business, | | | | buy tickets, with our suppliers who are reliable, with |
| particularly in a world of shrinking revenue's, | | | | the media who support us, and our industry who |
| participation rates and market share. So what are | | | | respects us. |
| these issues and why are they important?A brand is | | | | Anything that threatens our brand, reputation or |
| a collection of associations connected with a service, | | | | relationships is a risk to the business and should be |
| entity or person. The brand is sometimes described | | | | taken seriously. A risk-based approach to image and |
| by marketers as the personality traits behind a | | | | reputational risk to manage these threats is important |
| product or service. If we were talking about the | | | | to identify and prioritise these threats and direct |
| personalities of a brand these traits might include: | | | | resources toward limiting the chance of the threat or |
| * Their name, look, hairstyle and clothes, (i.e. a | | | | its impact. This requires the risk management |
| venue's name, logo and building presentation); and | | | | discipline to be applied to marketing and overseen by |
| * Their behaviours like a sense of humour and simple | | | | the organisation's Executive to understand the risks, |
| approach, (i.e. a sport that is fun and simple to use) | | | | and use tools like Enterprise-wide risk management |
| A reputation is based upon people's experience in | | | | and crisis management planning to help. |