Reputation is what other people think of us. What value does a reputation have? Numerous studies have shown that people are more likely to purchase goods and services from organizations with positive reputations. Likewise, the stocks of companies with positive reputations tend to command higher valuations.
We can''t force a reputation on anyone. We can''t improve reputation simply by claiming to have a good reputation. Reputation is based solely on external perceptions and conventions. Although reputation is viewed as something "soft" and "intangible" by many companies, it has real, tangible value that can be measured. Harris Interactive offers the following graphic to depict the "Six Dimensions of Corporate Reputation," which include:
- Emotional appeal - Do you hold a special place in their heart?
- Products & services - Are you known for quality and high performance?
- Financial performance - Have you recently achieved success?
- Social responsibility - Are you following through on your commitment to doing what''s right?
- Workplace environment - Are you remembering that your employees are your most important and influential public?
- Vision & leadership - Are you charting a course not only for your company but for society?
Credit: Harris Interactive