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Consumer trust, consumer experience and risk management

Consumer trust, consumer experience and risk management A recent article by Michael Lowenstein indicates that customer trust “is the connective tissue that holds customers, brands, and enterprises together; and, without trust, these connections would quickly dissolve.” Over the last few years Riskope have spent a lot of R&D funds and efforts to study the relationship between public perception of risks, risk assessments and crises developments, coming to the same conclusions.  If trust is not built through at least: transparent and rational risk assessments,…

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Nude celebrity photo leak throws Apple into a crisis

Nude celebrity photo leak throws Apple into a crisis Just As Apple prepares to launch iPhone 6 the brand suffers another crisis. Here are the facts: On August 31, 2014, ~200 private pictures of various celebrities were posted to the image board website. An investigation by Apple found the photos were stolen from its iCloud service by guessing usernames, passwords and security questions. Here’s Apple’s full statement published on September 2, 2014 2:31 PM EDT: We wanted to provide an…

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Mitigate the Risks linked to Employee Failure with Improved Recruitment and Selection

Mitigate the Risks linked to Employee Failure with Improved Recruitment and Selection Riskope thanks Lindsay Edwards for this contribution Many companies aroud the world consider the hazards linked to employee recruitment and retention as very significant. Here are some tips that will help you mitigate the risk linked to employee failure. Understand the need This involves optimizing job specifications and also being sure that you have a proper understanding of your business needs before you commence the recruitment process. The…

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Great Recession over? U.S. passed employment peak, but…

Great Recession over? U.S. passed employment peak The News A couple weeks ago, reportedly, the US returned to a level of employment comparable to the pre-2008 level. We see the US and other countries (including Greece) slowly emerging from the crisis, in some cases employment getting back to reasonable pre-recession percentages, but many doubts linger. In the same days we also read that “Americans think economy won’t recover until 2017” and we have read many papers on the income speciation.…

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Extreme Weather Is Already Draining The Biggest U.S. Companies

Extreme Weather Is Already Draining The Biggest U.S. Companies The recent Carbon Disclosure Project (CDP) report shows how Pepsi, Allstate, Walmart, and dozens of other S&P 500 corporations face large financial impacts as climate change worsens. It seems that political diatribes over whether climate change is real should be over now? At Riskope we have been including climate change scenarios and their related costs for a few years in all our holistic risk assessments: from automotive producers and suppliers to…

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Misleading risk assessment leads to Thames Water to pay £86m for overestimating flooding risks

Thames Water, UK’s biggest water company reportedly misreported the number of properties at high risk of sewer flooding between 2005 and 2010 leading to recording more properties at higher risk than there was evidence to support. This lead to overestimating flooding risks. The company reportedly did reduce the risk of sewer flooding at the homes of a large number of its customers. It also reduced misreporting likely led to poorly targeted and inefficient mitigative allotments financed by its customers. Misleading risk…

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Business Intelligence, Asset Management and Risk Assessment Based Decision Making

Business Intelligence, Asset Management and Risk Assessment Based Decision Making Today, more than ever, planners and decision makers are held accountable for outcomes often appearing to be beyond their control, generated by decisions made by others, which were made in different times and socio-economic, industrial and legal environments. Complex and interdependent systems are difficult to grasp and understand. Business systems have become overwhelmingly complex and interdependent and it is often difficult to gain clear understanding of their elements and operating…

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Big data and risk assessment

Big data and risk assessment It all started a few years ago with Google Flu Trends. Looking at correlations between what people were looking for in Google (for example: “flu symptoms”, “bulk Kleenex home delivery”) and the spread of the epidemic. In Google’s own words: “We have found a close relationship between how many people search for flu-related topics and how many people actually have flu symptoms. Of course, not every person who searches for “flu” is actually sick, but…

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