BUSINESS REPUTATION AND IMAGE OF ORGANIZATION AND BRAND

Abstract

Reputation is viewed as one of the critical elements of company's intangible assets. In modern realia, image and reputation management facilitates prompt data processing and better implementation of management decisions in the area of communication policy. Company sustainability is inextricably linked to its business reputation: effective business reputation management is the key to gain competitive advantage on the market which in turn is paramount for sustainable development. The aim of this study is to review and develop theoretical provisions on building an organization’s business reputation and image. Hence, this paper attempts to provide insights on various understanding of image and reputation along with suggesting a number of approaches to their interpretation. The paper also explores the stages of company business reputation formation, the major benefits and advantages offered through organization’s favourable business reputation. The research findings reveal the cases in which good reputation can help organizations and on the contrary, the situations when negative reputation can ruin the company. This study also considers the stages in building positive image and good business reputation of a company and tracks a feedback on their successful completion in the context of communication with the target audiences. Theoretical and methodological framework of this research relies on the provisions of economic theory, management and marketing theories, marketing communications. To achieve this goal, the article employed such general scientific research methods as abstract and logical method, holistic approach, methods of analysis and synthesis – for deeper understanding of the concepts of reputation and image. Based on the review of domestic and international best practice as well as applied studies on the significance of reputation for an organization, the content of the reputation and image concepts have been specified.