WHY GOOD REPUTATION MATTERS FOR AN ORGANIZATION

By Grace Njoki ,Kenya

Annual surveys have been carried out by industry analyst ,management consultants and senior managers for many years to ascertain which companies are most admired in their sector and overall.

A good corporate reputation brings many advantages to the organization; it encourages shareholders to invest in a company, it makes it easier to attract and retain talented staff and it helps attract and retain customers all of which is likely to lead to superior financial performance and shareholder value.

A good reputation can act like a magnet .It attracts us to those who have it. It matters because it is a key source of distinctiveness that produces support for the company and differentiates it from rivals.

It takes years to build a reputation but only the events of a day to destroy it. Maintaining a company’s reputation is not a walk to the park thing .It is extremely hard to do and it requires clear strategy of work, skill application, vigilance, quality management and quality of goods.

When the organization has lost its reputation, standing still is not an option .No matter how large or small an organization is there is need to continue growing in order to survive let alone succeed.

Success is undoubtedly a result of a complex mixture of competence that combines to produce a business that is greater than the total of its individual parts.

Having outstanding leadership, integrated processes and the ability to respond to external forces are just ways of achieving success but tough trading conditions will stretch these competencies to the limit.

In conclusion, a company that sustains good reputation;