For all organisations, reputations are critical. FIFA have to rebuild theirs and it is interesting that Blatter seems to think he is the person to start that process before he eventually steps down.
The role of the sponsors, however, is fundamental to the way the process moves forward. They cannot be independent of the process and will come under pressure from politicians, the media and, in some cases potentially, shareholders to explain and justify their relations with FIFA.
It is also a reminder to organisations to consider all those it works with - suppliers, sponsors, charities etc. Reputations impact on one another and this needs to be considered at the outset.
Getting it wrong costs - damaged reputations take years to rebuild, share prices can fall, funding rounds less attractive and so on. Dealing with such crises are also a huge burden, not least in terms of time, on senior management.
Risk analysis needs to include reputation as well.
If football, as the late Bill Shankly remarked, is not a matter life or death (“It’s more important than that”) so the Fifa scandal is not a matter of football. Instead, in the words of Richard Weber, chief of the US Internal Revenue Service’s Criminal Investigation (IRS-CI) unit: “This case isn’t about soccer, it is about fairness and following the law.”