"People and businesses do not realize the importance of reputation until they have lost it" Satish Kota
Narration: Some organizations take reputation very seriously and consider it as the greatest asset to the business. They believe in trust and good will and always look towards building or improving their reputation.
However on the flip side many organizations do not take reputation seriously and put it at the back of their minds; they do not understand the risk it creates for the business. So businesses should be watchful for any negative reputation and have to be prepared to counter it.
Reputation is the main driver of business value. It helps in measuring the loyalty of customers, creates an open channel of communication and does sales. Successful companies perform well when they have a good reputation. Customers feel confident to refer a business to others when its reputation is good. It is important for the survival of the business.