“A good reputation is more valuable than money” – Publilius Syrus

This quote emphasis the value of reputation in today’s business. Reputation is more valuable than money, because the level of reputation in a company often determines the amount of money they can obtain.

In a blog post by Michelle Medeiros, she argues that reputation is arguably the most intangible asset that a firm can posses, because firms with good reputations are more attractive to investors, customers, suppliers and exchange partners. This often leads to an improved overall performance of a firm. If a company does not have a good reputation, they often lack those favorable factors.

However, this reputation is often an incentive for firms to falsify data or try to hide actions from public media, customers, suppliers and exchange partners. Ideally firms do not want any damage to their reputation in order to enjoy higher profits and competitive advantages over other firms.

Firms will find ways of misleading mainly consumers to increase their reputation. They often advertise with programs that they have undertaken to help Third World Countries, but often lack evidence. It is down to the consumer to judge the reliability of a firm to assess their true reputation and decrease the amount of dishonesty in business.

Word Count: 200

 Sources:

• http://www.cuttingedgepr.com/articles/corprep_important.asp

• http://michellemedeiros.wordpress.com/2011/04/04/why-corporate-reputation-matters/

• http://www.brainyquote.com/quotes/keywords/reputation.html

• http://michellemedeiros.files.wordpress.com/2011/04/i-dont-like2.jpg