Abstract
Corporate reputation is more important than ever. The highly turbulent business environment, increased publicexpectations, and pressure from different stakeholder groups have all contributed to the increased importance ofexamining and managing a company’s reputation. Academic scholars have been studying corporate reputationfor the past two decades, with special attention during the past decade. This is evidenced by the special journalson corporate reputation such as the Corporate Reputation Review, special issues in various journals on corporatereputation and many academic conferences on this important research topic. Today, with the abundance ofresearch on corporate reputation it was important to look back and reflect on these studies. It is important toprovide an overall framework for understanding corporate reputation and its underlying components andmeasures. Accordingly, this paper aims to review the literature on corporate reputation, by examining theconcept, its measurement, perspectives and overall implications on organizations. This paper offers a synthesis ofthe concept of corporate reputation as well as some implications for managers who want to actively manage theirreputations.
Highlights
In today’s highly competitive, dynamic and turbulent business environment, companies strive to search for ways to differentiate their offerings and build favorable relationships with a company’s stakeholder groups
The highly turbulent business environment, increased public expectations, and pressure from different stakeholder groups have all contributed to the increased importance of examining and managing a company’s reputation
This paper aims to review the literature on corporate reputation, by examining the concept, its measurement, perspectives and overall implications on organizations
Summary
In today’s highly competitive, dynamic and turbulent business environment, companies strive to search for ways to differentiate their offerings and build favorable relationships with a company’s stakeholder groups. Reputation is an important means by which companies can maintain a sustainable competitive advantage and endure a long term relationship with multiple stakeholder groups (Boyd et al, 2010). It is the most valuable intangible asset that helps sustain the organization throughout its lifetime. A favorable corporate reputation is thought to safeguard an organization at times of crises. It can only take one negative incident to damage a reputation, quoting Warren Buffet:. If you think about that, you’ll do things differently.” - Warren Buffet
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