Building Enterprise Reputation By Doing Sustainable Socially Responsible Business

Abstract :

The recent turbulent market development is causing problems to numerous enterprises, and it raises a question: how can be a positive reputation maintained in the long term? Even today, enterprises still tend to underestimate the power of reputability and reputation management, depriving themselves of what they have been building up for years – their good name and image. It does not take much for the enterprise to lose everything in a short time – a small misstep is just enough, for instance a false step having the form of the lack of environmental friendliness or of unethical or arrogant conduct towards customers and the public. Customers and the public can sense each and every foul trick, act of disrespect or lie, and after getting disappointed, they spread the information further (even unconsciously sometimes), which contributes towards the destruction of good name and the public’s positive feedback. The enterprise can lose its reputation easily. However, repairing a damage takes much longer and requires a careful practice of reputation management. Currently, a majority of enterprises and stakeholders are aiming at protecting their good name in the off-line world as well as on the internet by trying to avoid problems endangering enterprise reputation. Avoiding problems and crises lies in doing sustainable socially responsible business. Therefore, the following research has been carried out based on an analysis of enterprise crisis situations that have affected the overall reputation of an enterprise.? Conducting the research, it was subsequently possible to deduce and produce recommendations and principles to be followed in order to build enterprise reputation by doing a socially responsible business.