As more and more executives in the c-suite embrace social media, reputational risks are likely to increase if proper contracts and policies are not in place, says LEON AYO, CEO of executive search firm Odgers Berndtson South Africa.
As more and more executives in the c-suite embrace social media, reputational risks are likely to increase if proper contracts and policies are not in place.
Executives have cited reputation as one of their top risk factors according to numerous reports. Fake news, fake social media accounts and cyber security are increasing the reputational risk in the digital world.
“As a measure of defence, many businesses will have social media contracts and policies in place for employees, but surprisingly, not at the c-suite or board levels,” says Leon Ayo, CEO of executive search firm Odgers Berndtson Sub-Saharan Africa. “It is common practice for large companies to have social media contracts in place for executives throughout the UK, Europe and USA, but this is not yet the case in South Africa.”
The purpose of the contract is not to sensor or inhibit freedom of speech but rather to ensure the presence of executives on social networks does not compromise the company or business image.
Recently, Helen Zille’s tweets about colonialism received serious backlash which discredited not only the Democratic Alliance as a political party but also brought into question its current leadership. In addition, reputational and brand risks from executives posting inappropriate material can evolve to business or revenue risks, where there is a loss of regard from stakeholders.
On the other hand, social media has changed the communications dynamics between executives, employees and customers and the benefit is making people feel more connected. A more connected world contributes to the business objectives of the organisation. Locally, Michael Jordaan, former CEO of FNB was the Twitter trailblazer for the c-suite and was coined by IT media as the coolest CEO in the country
Social media contracts are certainly the practical measures for countering reputational risk in the digital world but leaders must also ensure their authenticity, both in the online world as well as the offline world. Whatever a leader is prepared to say online, they must be prepared to share in a face-to-face environment too. Barack Obama is a common reference for excellence in authentic leadership across various social media platforms because whatever he posts is reflective and authentic to what is happening offline too.
High risk factors such as fake news or fake social media accounts cannot be countered using social media contracts which is why authenticity plays such a necessary and important role. “Should a fake news story about an executive be published, for example, and is damaging to that reputation, a digital presence where the content and messaging is both authentic and consistent would be able to counter this risk. The same applies for a fake social media account. An executive must use the digital world to gain trust with their stakeholders and proper trust comes from authenticity just as they would do in the offline world,” explains Ayo.
Not only are fake news sites or social media accounts a possibility but so too are the chances of executives’ social media accounts being hacked, especially off the back of ransomware attacks such as the recent WannaCry.
“This is just an example of how hackers are increasing reputational risks and the next step could see executives’ accounts being hacked. Imagine comments made by a CEO on social media pertaining to price sensitive information and the impact it would have on share prices?” points out Ayo. “Requirements for secure passwords as outlined in a social media contract combined with leadership authenticity would be able to counter such a risk.”
Ultimately, executives cannot shy away from social media but also need to be aware of the pros and cons when communicating in a public forum. “People are not always going to like what you say or comment on and the c-suite may come under fire for this. At the same time, a well thought out social media strategy, contract and principles of authenticity will go a long way to counter this risk,” concludes Ayo.
Auto rivals team up for connected car demo
Rivals BMW, Ford and Groupe PSA, maker of Peugeot and Opel cars, have teamed up with the 5G Automotive Association (5GAA), Qualcomm Technologies and Savari for Europe’s first live demonstration of C-V2X direct communication technology operating across vehicles from multiple auto manufacturers.
The live demonstration also featured a live showcase of C-V2X direct communication technology operating between passenger cars, motorcycles, and roadside infrastructure. C-V2X is a global solution for vehicle-to-everything (V2X) communication in support of improved automotive safety, automated driving and traffic efficiency.
The demonstration exhibited the road safety and traffic efficiency benefits of using C-V2X for Vehicle-to-Vehicle (V2V) collision avoidance, as well as Vehicle-to-Infrastructure (V2I) connectivity to traffic signals and Traffic Management Centers (TMC). C-V2X was operated using real-time direct communications over ITS spectrum and demonstrated its ability to work without cellular network coverage, and underscores its commercial readiness for industry deployment as early as 2020. Superior performance and cost-effectiveness compared to other V2X technologies, along with forward-compatibility with 5G, make C-V2X direct communications a preferred solution for C-ITS applications.
Six demonstrations were shown including: Emergency Electronic Brake Light, Intersection Collision Warning, Across Traffic Turn Collision Risk Warning, Slow Vehicle Warning and Stationary Vehicle Warning, Signal Phase and Timing / Signal Violation Warning and Vulnerable Road User (pedestrian) Warning. The vehicles involved included two-wheel e-scooters provided by BMW Group, and automotive passenger vehicles provided by Ford, Groupe PSA, and BMW Group, all of which were equipped with C-V2X direct communication technology using the Qualcomm® 9150 C-V2X chipset solution. V2X software stack and application software, along with roadside infrastructure, were provided by industry leader, Savari.
C-V2X is globally supported by a broad automotive ecosystem, which includes the fast growing 5GAA organization. The 5GAA involves over 85 global members comprised of many leading automakers, Tier-1 suppliers, software developers, mobile operators, semiconductor companies, test equipment vendors, telecom suppliers, traffic signal suppliers and road operators.
Cellular modems will be key to the C-V2X deployment in vehicles to support telematics, eCall, connected infotainment and delivering useful driving/traffic/parking information. As C-V2X direct communication functionality is integrated into the cellular modem, C-V2X solutions are expected to be more cost-efficient and economical over competing technologies, and benefit from accelerated attach rates. C-V2X direct communication field validations are currently underway in Germany, France, Korea, China, Japan and the U.S.
C-V2X currently stands as the only V2X technology based on globally recognized 3rd Generation Partnership Project (3GPP) specifications, with ongoing evolution designed to offer forward compatibility with 5G. C-V2X also leverages and reuses the upper layer protocols defined by the automotive industry, including the European Telecommunications Standards Institute (ETSI) organization. C-V2X includes two complementary transmission modes:
- Direct communication as shown in this demonstration for V2V and V2I use cases
- V2N network communication, which leverages mobile operators for connectivity and delivers cloud-based services, including automated crash notification (ACN, as mandated by eCall), hazard warnings, weather conditions, green light optimal speed advisory (GLOSA), parking spot location, and remote tele-operation to support automated driving, to name a few.
“This demonstration builds on the successful C-V2X showcase we organised with our members Audi, Ford and Qualcomm in Washington DC in April, said Christoph Voigt, Chairman of 5GAA.
“We are excited to witness the growing momentum behind this life-saving technology and to see our members working together to deploy C-V2X, and to make it hit the road as soon as possible.”
“The BMW Group introduced the first C-ITS use cases already in 2013 with the market introduction of the BMW i3. Today most of envisaged C-ITS use-cases are already institutionalized. With the implementation of C-V2X, the BMW Group accomplishes the last set of the puzzle with a practical path to C-ITS showing quick benefits,” said Christoph Grote, Senior Vice President Electronics, BMW Group.
“With its ability to safely and securely connect vehicles, along with its evolution into 5G, C-V2X is integral to Ford’s vision for future transportation in which all cars and infrastructure talk to each other,” said Thomas Lukaszewicz, Manager Automated Driving, Ford of Europe. “We are very encouraged by preliminary test results in Europe and elsewhere which support our belief that C-V2X direct communications has superior V2X communication capabilities.”
“We’re moving forward with seamless communication between cars and their environment for enhancing road safety, as well as our customers’ safety,” said Carla Gohin, Group PSA’s Vice President for Research and Advanced Engineering. “Following the first European C-V2X direct communications demonstration we hosted with Qualcomm Technologies last March, we’re pleased to work with leading automotive and technology companies today to highlight that C-V2X interoperability is a reality.”
“This demonstration of interoperability between multiple automakers is not only another milestone achieved towards C-V2X deployment, but also further validates the commercial viability and global compatibility of C-V2X direct communications for connected vehicles,” said Enrico Salvatori, senior vice president & president, Qualcomm Europe and MEA. “We look forward in continuing to work alongside leaders in the automotive industry, like the 5GAA, BMW Group, Ford, Groupe PSA and Savari, to help advance the automotive industry’s shift towards a safer, connected and more autonomous future.”
“As one of the V2X pioneers, our company is extremely pleased to continue to help enable the next step in the V2X revolution that we helped start back in 2008,” said Ravi Puvvala, CEO of Savari. “For the last year and a half, the Savari team has worked diligently alongside the dedicated C-V2X engineers in the 5GAA partnership. The resulting string of increasingly impressive demonstrations is continuing to convince the world that C-V2X will soon be deployed around the world.”
Win a Poster Heater with Gadget and Takealot.com
This winter Gadget and Takealot.com are giving away three Poster Heaters, which look like posters but become heaters when you plug them in.
Three Gadget readers will each win a unit, valued at R550 each. To enter, follow @GadgetZA and @Takealot on Twitter and tell us on the @GadgetZA account how many Watts the heater consumes.
What’s the big deal about these heaters? Many of us are struggling to keep the balance between soaring electricity costs and the need to keep warm this winter.
However, the recently launched Poster Heater by EasyHeat and distributed in South Africa by Takealot.com is not only one of the most cost effective electric heaters currently on the market, it is also easy to setup and use.
As the name indicates, it is a poster similar to one you would hang on a wall. But, plug it in and it turns into a 300 Watt heater. The Poster Heater isn’t designed to heat hallways or large rooms, but rather smaller ones like a bedroom or a baby’s nursery or a dressing room.
It uses radiant heating, which means that it heats up in a couple of minutes and the heat is directed at the objects or people around it, quickly taking the chill out of the air and providing a comfortable ambient temperature.
The other advantage of radiant heating is that it doesn’t dry out the air like infrared or gas heaters. Users also don’t have to worry about their children or pets getting too close to it because, even though it gets hot, it can be touched.
To enter the competition follow the steps below:
Competition entry details:
3. The competition closes on 31 July 2018.
4. Winners will be notified via Twitter on 1 August and Takealot.com will be in touch to organise delivery.
5. The competition is only open to South African residents.