Building and maintaining a company’s reputation is an

Building and maintaining a company’s reputation is an ongoing process for CEOs and other business leaders, but it all starts with one word to remember: “Stakeholder. Building and maintaining a company’s reputation is an ongoing process for CEOs and other business leaders, but it all starts with one word to remember: Stakeholder. Leading an organization and building a positive reputation means constantly looking for ways to make the positive press outweigh the bad press as much as possible. Just because a company’s reputation can’t be touched, seen or told doesn’t mean it isn’t one of the organization’s most important assets. The ability to better communicate with stakeholders and ensure that their needs and concerns are addressed is the foundation of company reputation management. The ability to better communicate with stakeholders and ensure that their needs and concerns are met is the foundation of managing a company’s reputation. As a collective reflection of stakeholders’ interests and feelings, corporate reputation is the cornerstone of any company’s success and a characteristic that can distinguish it from its competitors. When defining corporate reputation, it is important to remember that it is an intangible asset. Perhaps for this reason, most companies surveyed by McKinsey & Company indicated that improving or maintaining corporate reputation is their top priority when addressing sustainability issues. A company’s reputation is the sum of all the opinions and beliefs that exist about a company based on its history and future prospects compared to its closest competitors. Similar to these quantitative metrics, corporate reputation is also important to a company. Although individuals perceive your company differently because they have different interests, their feelings collectively determine your company’s reputation. A positive corporate reputation is very difficult for competitors to achieve or surpass. However, unlike tangible assets, the value of a company’s reputation is not tied to a physical object, and it can be more difficult to accurately determine. Corporate reputation is also important because it is directly related to the sales funnel and, therefore, to the rate of return.