2 Jun 2012 : The Philosophy of Managing Corporate Reputations
Increasingly, Fortune 500 businesses are beginning to accept that Reputation management is one of the most important investments that any organisation can make. Many of them have internal teams or external agents managing their reputation, which seems to correlate positively to shareholder value and market resilience. Indeed, the notion that businesses are a legal persona, and not an extension of the personalities managing them is gaining momentum. In an age where businesses have and continue to impact society in dramatic ways, their reputations cannot escape being highlighted. According to Edmund Burke, an eighteenth century philosopher, society is indeed a social contract where individuals cannot meet their needs through their own efforts and therefore agree to help each other. Corporate Reputation is possibly the closest measure of how closely individual business entities abide by the terms of this social contract.
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