Now that we’ve defined company reputation explained why

Now that we’ve defined company reputation, explained why it’s important and how it can be measured, looked at reputational risks and how corporate social responsibility can help reduce them, it’s time to think about developing a reputation strategy for your company. We’ve explained what company reputation is, but why is it so important to your bottom line and overall success? A company’s reputation is important because it affects both tangible and intangible assets that directly or indirectly affect the future of your business. Reputation Management Checklist When thinking about how to improve your online reputation, it’s helpful to have an understanding of the value of a company’s reputation as an intangible asset: A company’s reputation is increasingly an important factor in its business value. Corporate social responsibility, when properly managed, is the cornerstone of a reputation management strategy that organically and consistently builds a positive public perception of your company. Corporate reputation is important because it affects both tangible and intangible assets that directly or indirectly affect the future of your business. For those who want to understand what market value is at stake in relation to your company’s reputation, here’s a breakdown in hard numbers of how some of the world’s largest companies behaved in 2017 due to their good reputations. Companies seek high marks in the Harris survey because it can greatly increase their market value based on what people say about their reputation. By giving something back to consumers and other stakeholders who supported and helped build the company, CSR goes a long way toward maintaining a company’s reputation. There are several ways to measure your company’s reputation and its impact on the value of your business. Not all online reputation management companies are created equal, but a good company can make a big difference when implementing a corporate reputation strategy. Bad press or negative attitudes about your company can go viral and spread worldwide almost instantly if you are not proactive in protecting your company’s reputation. Such a threat to your company’s reputation is called reputational risk, and these threats are increasingly viewed by executives as a serious threat to business success. A corporate social responsibility plan should be part of reducing your company’s reputational risk. If your company focuses on fair business practices and reliable operations, your company’s reputation will be reflected in the bottom line. Obviously, investors are more likely to buy stock in a company with a good reputation than one with a bad reputation. In essence, a company’s reputation is the result of what it promises to do and the consistency of its execution.