How to increase reputation
Video: 10 Best Ways To BUILD A Great Reputation 2024, July
The concept of “reputation” is an intangible asset that plays a significant role in the business of any company. It has its tangible expression and may be reflected in the financial statements. If we reduce it to dry formulas, then it is equal to the difference between the market value of the business and the book value of its assets, excluding debt obligations. Business reputation is a whole system of attitude to the company from its business partners and customers. Increasing a reputation in business means increasing the profitability of a company.
Instruction manual
1
An increase in reputation is possible with an increase in trust between the company and its customers. At the same time, the company assumes responsibility for the quality of the services provided or products. It guarantees the accuracy and timeliness of the provision of information related to its activities. With such relationships with customers and customers, PR-campaigns of the company can increase sales, increase the value of shares of the company and bring additional profit.
2
To increase the reputation of the company, it is necessary to constantly confirm the status of a reliable partner, strictly fulfilling its financial and contractual obligations, answering them even in case of farce-major circumstances.
3
The company's reputation with potential partners also depends on how large its financial and professional resources are. Therefore, such a company pays great attention to the selection and retention of personnel guaranteeing a consistently high quality of its services and goods.
4
All transactions of a company that wants to increase its business reputation should be accompanied by all the necessary information and be conducted in compliance with world ethical business standards with environmental requirements.
5
Recognizing the existence of a business reputation requires managing it in the interests of the company. For this purpose, it is necessary to take care of "reputation management", which will track and monitor it. The purpose of this reputation management will be to prevent reputation risks and make decisions that could damage the image of the company and reduce its reputation.
