Essay on Public Relations and Corporate Reputation

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As recent corporate events have made it clear, an organization’s reputation is of paramount importance to its success as well as survival. This is because the happenings leave the corporate credibility at stake while public mistrust spills over into investment markets. As such, there is a need to restore public faith. Reputation accounts for a large portion of a company’s market capitalization and is one of its most important long term assets. It impacts the organization in several ways including stock price as well as the ability to attract and retain customers and employees (Michael and Judy, 2008). Organizational reputation is seen in such factors as the quality of products and services it offers, earnings and business performance,…show more content…
It is the process of tracking an organizations actions as well as other entities and stakeholders opinions about the actions, reporting on the actions as well as opinions and reacting to the reports. It involves managing the reputation of an organization of any size whether a large one with an intension of self promotion or a recently established company that wants to make its name known. There are three types of reputation management namely; Building reputation management- which involves building the reputation for a business that has just been established. It involves both building a good reputation for the business and maintaining it. Maintenance reputation management aims at keeping an organizations good image superior in the eyes of the general public (Edward, 2004). It is meant for companies that are already established and have good reputation already. Recovery reputation management- this kind of reputation management is meant for companies that have gotten a bad reputation for any reason. Reputation management is an integral part of public relations and plays a great role in marketing as well as attainment of organizational goals. Many organizations employ public relations officers who also act as reputation managers to ensure that their organizations maintain good public image/ reputation. Companies also use the media as well as online reputation management channels in a bid to ensure that their good reputation
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