Question

Within the Discussion Board area, write 400-500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

There are many reasons why a company should pay attention to their reputation as it relates to their future vendor relations and product supply costs and availability. Complete the following:

Discuss why it is important for organizations to manage their reputation by answering the following questions:

What impact could a poor quality product have on a company?
How does reputation help a company to be more competitive?
How do you think a company can improve their vendor and customer relations?
Summarize 3 examples of what goes into the reputation of a company.

Be sure to include your references, and format your submission in APA format.

Answer 1

Reputation is a very critical and important aspect that a business organization should possess or aim to possess because reputation is something that provides an organization with a lot of positive amenities and it is like an asset to the organization which is fictitious. A product or service with poor quality may actually affect the organization in a anegative manner and therefore make an impact negatively on the organization and that is the reason organizations aim to maintain quality of products and services that they manufacture.

Reputation makes an organization competitive in the industry because it is a core capability that an organization possess and gives the organization a competitive advantage over it's competitors in the industry.

Organizations need to improve their customer relation and vendor relation in order to sustain in the industry and reputation will actually have a positive effect on the relation that the organization possess with customers and vendors. Customers and vendors generally prefer to maintain relationship with organizations who have a positive reputation in the industry. Reputation of a company depends on various factors, firstly quality of the product and services that the organization provides. Secondly, status of the organization in the industry. Thirdly, the brand value of the organization and the popularity of the brand within customers. For example if we look at Apple we will see that it maintains all the three factors that is being discussed and there is no doubt in the fact about the reputation of Apple.