Running head: Corporation and Community 1

Corporation and Community

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Corporation and Community

Business reputation is an essential part of a firm in the respective environment.

Executives and board understand the importance of the firm's reputation as La strong positive

reputation attracts more customers and skilled employees. A good reputation is perceived to be

more valuable, and customers purchase broader ranges of services and products and are loyal. A

stronger relationship benefits both the community and the business. Communities benefit from

the business through civic leadership and in solving local problems, while the business benefits

from the community through support and fairways. Most organizations focus on handling their

threats to reputation rather than managing the risks and reputations. Communities and

corporations are interdependent upon one another as their successes and expectations are

intertwined. For instance, the community needs businesses to pay taxes to fund education, while

a corporation wants to want educated and skilled individuals to hire as employees. An

organization can build its reputation by being consistent, responding, and encouraging the

customers to leave reviews, as well as go beyond their expectations. The essay explores the

relationship between corporations and the community and the ways a firm can enhance its

reputation.

Practitioners and researchers share a consensus that firms with positive reputations have a

competitive advantage in the market. Beyond the customers of the business, an organization

must understand how prospective and current employees feel about their operation. An

organization can build a positive reputation for over decades and destroy it within minutes. For

instance, Papa Johns's and Uber forced out their founders due to detrimental behaviors

(Lawrence and Weber, 2017). However, there are several ways an organization can build and

maintain a stellar reputation. The first way of building a good reputation is by encouraging the
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customers to leave reviews. Reviews of an organization matter a lot as more than 80 percent of

the customers read the views before making decisions to spend the money with the organization.

Besides, more than fifty percent of the customers consider if the firm has at least a three-star

rating. Reviews are essential as it legitimizes the firm and identifies it as a trustworthy

organization.

The second way of building a good reputation is by considering brand management. It is

difficult to create a brand that is widely recognized. Management of the brand uses different

techniques to improve the brand or value of the product line over time. Brands that are well-

established are managed as a way of maintaining the reputation of the firm (Franco & Haase,

2020). A recognizable brand such as Coca Cola and Apple Inc. immediately signals to the

stakeholders how the firm is different from its competitors. The reputation of a company is

captured in a trusted and recognized name. The logo and brand name acts as its signature. The

third way is responding to the negativity both in private and public. Unfortunately, the

organization will have to deal with negativity as some customers are sure to voice their

displeasure. Responding to negative reviews and comments is essential as it shows the potential

customers how you are handling these types of cases. It is a way of setting the record straight to

the public, as 70 percent of consumers read how the organization responds to the reviews.

Besides, be humble when responding to negative reviews and offer a solution that will boost the

reputation of the firm.

In addition, the firm should maintain consistency. The owner or the CEO of a corporation

has an obligation to provide the customers with the best service. Therefore, the firm should aim

at providing excellent services to customers as they always expect the best. More so, an

organization can develop a good reputation through crisis management. Crisis management
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shows how the firm deals with major events that threaten to harm the general public,

stakeholders, or the organization (Lawrence and Weber, 2017). The firm should develop a crisis

management plan in advance and be flexible and ready before the crisis hits. It is essential to

engage the stakeholders with specific jobs and tactics. Through the use of all media outlets such

as television, magazines, and newspapers, the firm strives to build a solid reputation. Customers

and employees are important to the success of the organization. Event sponsorship and executive

visibility are also appropriate ways of enhancing and communicating the reputation of the firm.

In conclusion, today's business environment requires the firm to incorporate its overall

reputation on the agenda. It is significant to understand that the reputation of the business is a big

deal as it can promote the failure or success of the organization. An organization can improve its

reputation by encouraging the customers to leave reviews, respond to negativity both in private

and public, be consistent, identifying the best way of crisis management and brand management.

The organization has the obligation of providing the customers with the best services as the

customers always expect the best from the business. The company can implement a customer

service strategy, which elevates the organization among the consumers, which will lead to

experiencing an enthusiastic and happy customer base.

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References

Franco, M., & Haase, H. (2020). The role of reputation in the business cooperation process:

multiple case studies in small and medium-sized enterprises. Journal of Strategy and

Management.

Lawrence, A., and Weber, J. (2017). Business and Society: Stakeholders, Ethics and Public

Policy. New York, NY: McGraw-Hill Education. Fifteenth edition. Pp. 394-523. Print.