Reputation Managment Essay Example | Topics and Well Written Essays - 2500 words

report Managment - Essay faceReputation increases the actual worth of the company and increases its market value , but most organization does non understand the real value of account.Companies need to measure, monitor and manage their reputation to be successful on a long term basis. Most organization does not take initiative to manage reputation because they consider it as an intangible asset. Like any other asset of the company, reputation has its liability side. So the reputation management implemented by a company has to evaluate both the reputation assets and the liabilities. harmonise to Doorley (2007,pg.11)The very act of having to list their reputational assets and liabilities helps the various units focus on reputation management. It is extremely outstanding for an organization to have a forge regarding the reputation management. A comprehensive reputation management plan is to be applied to all areas of an organization like finance, human resources, manufacturing, ma rketing, investor relations and public affairs.Definition of Reputation Reputation is the main identity of an organization on international air sector platform and to maintain it, a company need to have an ideal reputation management system. A reputation mess be defined as the thinking or view of others about something. According to ChangAbdul Rahman and Hailes defined reputation as an expectation about an agents behavior based on selective information about or its past behavior.... Reputation has a profound value in business innovation as it enables business partners and consumers to trust the company without concerns. Reputation allows the business partners and customers to carry on business with a company on moral and ethical grounds. Trust and reputation go hand in hand and a company with a good reputation in the business world is deemed to be honest, transparent and reliable in their business dealings. Reputation of a company shows to the outside world the believability it has in the market and between customers and clients. A companys reputation depends upon its past performance and the opinion its customers and customers has based on it. Reputation gives an idea to the outside world about the future behavior of an organization. Reputation is of contagious in nature and word of mouth can enhance or destroy goodwill of the firm. Reputation spread in the market like preempt and hence a company should be cautious and calculative in maintaining its prestige and reputation. Development Stages of bodily Reputation The incorporated reputation has evolved through different stages which involves corporate image corporate identity and corporate reputation. The corporate image is the stage where consumer perceives the company through its brand, logo and uniform and theme of office building. bodied image is not only in the hand of the company but is contributed by media and other external agents. Corporate image can be established by creating graphical t heme to the products and also by providing apt products according to the customer needs. Corporate image is the initial stage of reputation development as the quality of product enhances the image of an organization. The second stage is