Reputation is keyBy Bob Violino
40% of respondents say the CEO is most responsible in their organization for protecting the company's reputation or brand image.
$1.5 billion is the average estimated economic value of an organization's corporate brand or reputation. Responses ranged from a value of less than $1 million to more than $10 billion.
Reputation is key
74% of respondents say their organizations' reputation is key, and 73% think reputation and brand image are inextricably linked.
While reputation and brand image are perceived as highly valuable, less than half of respondents (49%) say these are resilient assets and can withstand negative events, including a data breach.
82% of respondents say their organization has had a data breach involving sensitive or confidential information.
On average, organizations had 2.7 breaches in the past two years. Fifty-three percent of respondents say the data breaches had a moderate impact on reputation and brand image, while 23% say the impact was significant.
Depending upon the type of information lost as a result of a breach, the average damage to the value of the brand ranged from $184 million to more than $330 million.
81% of respondents say a data breach involving the loss or theft of more than 100,000 confidential consumer records, and which is widely reported in the media, would affect the economic value of their organization's reputation and brand image.
The average diminished value of the brand as a direct result of such an incident would be 21%, according to the survey.
11.8 months is the average time it would take to restore an organization's reputation following such an incident.