Reputation Management

Reputation management refers to the methodology used by individuals, managers, and government leaders to favorably influence perceptions about themselves, their businesses, or their governments. The focus in this entry is on business reputation. With increased government oversight, stakeholder interest in transparency, and the public’s desire for evidence of social responsibility, business leaders have come to see reputation as an intangible asset (or liability) that creates value. Thus, a business’s reputation merits managerial attention and prowess. As an intangible, reputation is beholden to perception; the effort to monitor, measure, and shape stakeholder perception of a business is the challenge of current reputation management.

The benefits of a positive business reputation are several: They assist consumers in (a) selecting products and services, (b) determining what stocks to invest ...