Google Inc which started a policy of offering 20% of the workforce’s time to work on creating new innovative products for the company. It was a successful activity which created Gmail and Adsense and many more businesses in the Silicon Valley followed the same. Because Google has a high reputation in creating innovation, it inspired others to follow them and many more companies worked towards it.
Moral of the Story: Good reputation puts your processes and practices as a baseline for others in the industry to follow you.
Having a good reputation not only adds revenue to the business, but it also gains respect in the industry. Because you have a reputed business, it inspires other businesses to follow you the way you work and execute. They would like to change their business processes and customer or employee engagement as per your business methods. They would like to copy you and try to build their own reputation as same as yours. [/member]
Disclaimer: All stories are a work of fiction. The names and characters do not exist, except in the mind of the author built to suit the story. Any resemblance to any persons, living or dead, or any business, in existence or not, is purely coincidental.