Over the past few years, corporate reputation has become a vital business resource for any organization. The corporate reputation service has become an important influence in customer’s decisions in order to try a company’s products and services. The corporate reputation services also play a major role or part in investor’s decisions to buy stock of the company. The decisions of the regulators to issue or grant operating licenses and enable the firms to attract and retain the best work force has propelled most of the enterprises to invest in the corporate reputation management.
The concept of corporate reputation service in India is increasingly taking the center in the business world. The corporate reputation of any company is often confused with its brands and products. In the marketing field, corporate reputation plays a vital role in creating market entity barriers which help in enabling the retention of the consumers and their loyalty towards a company and its products and services. It helps a firm to drive markets instead of being market driven and the only reason for this is that reputation is always associated with the quality of products and services that the company is offering to its customers in the competitive market.
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Corporate reputation also plays an important role in the field of human resource management, as it helps an organization to retain its best man power and attract new talents. We know that reputation is a complex concept and an intangible asset and it takes very hard work and time to maintain a name. It is important to understand that a good reputation not only helps in increasing the corporate worth but also helps in providing continuous competitive advantages. Any organization can easily achieve its goals and objectives if it has maintained a good reputation in the market, especially among its customers, suppliers and its working employees. It is important to maintain a good reputation in order to attract more customers.