YOUR BRAND REPUTATION AND ITS RISKS

Means people or group of people opinion towards a certain or specified company, organization and any kind of thing like this. Reputation is generally derived from the Latin word “Reputare” meaning to think over. Actually “put” is the origin of the word reputation. It may also be defined as a rough estimate or calculation of people’s or society’s view towards a certain thing or entity. Actually, the reputation of anything like (company, firm, organization and may be any person belongs to any field of life) is a measure of society’s opinion or choice towards specific person or organization. Reputation is used to represent the standards of a society.

You may belong to any field of life, it may be your social, political and may be an economical life you need to grow in your society with a good reputation. For example, if you are running a firm, organization, or a company you should have a good reputation to grow your business. If you are a teacher, then you should have a good reputation among your students to create a link between you and your students. Also, if you belong to social media then you need reputation to grow your success by knowing that how many people have visited your site, page, or group whatever you are dealing with.

reputational risk - repurisk

IS IT NECESSARY TO EARN REPUTATION

It is very necessary to earn reputation in society for your business. The firms or companies have to spend a lot of money to get the positive response of the people. Better and strong positive reputation attracts the people of a good standard. Because these people are the key source to get progress in the society of your area for your company, firm or organization. Reputation is a mechanism of social control. Once you earn strong positive reputation in the society you don’t have to work much hard except you just have to maintain your standard in the society. After getting the reputation you should not yourself or your company let the reputation down. For this purpose, you will have to remove all the risks that may become the sources to let down your reputation.

HOW TO EARN REPUTATION

There are lots of methods to earn reputation in a society. A company needs a good reputation among the people to be successful. With the growing age to earn reputation is not really a big task. The reputation can earn by following methods:

  • Social media
  • Electronic media
  • Paper media

By using above three media we can earn a reputation among the people to grow the business.to earn reputation is not a big task. In no time your product will get a good reputation in the whole world. If the product reaches to the level of expectations of the peoples, then you are successful in your society. However, with the ease of getting the reputation in society, there are lots of risks that you lose your reputation. To maintain the reputation in a society is really a tough job. What people think about you or the opinion of people towards you is the measure of your reputation. If the group of people or society have a good opinion towards the certain thing that is, it may be any organization, firm, or company then you have a good reputation otherwise, not a good reputation.

RISKS

There may be the following major and certain risks towards your reputation:

  • Reality versus expectations
  • Weak interaction
  • Weak communicating skills
  • Atmospheric difference.
  • Any disloyal person in your company.
  • All the oppositional strategies of your business rival.
  • Any fraud person who have skeptical
  • Changing modes or beliefs of people

REALITY VS EXPECTATION

The gap between the reality and expectation should be very low. If the reality of the product of your company does not meet the consumer’s expectations, then the people will give you a negative response which may lead to the loss of reputation. Most of the companies do not live up to the expectation so they fail to earn the trust and loyalty of the society. As all the companies put their lots of struggle to earn reputation while authors point out that the biggest reputation is worst if it does not close to the reality. The fake reputation is more harmful and dangerous for any company, firm or organization.

WEAK INTERACTION

The weak internal interaction leads to the loss of reputation which is the major risk. The interaction among the boss and employees should be very strong and should have strong bonding between them.

WEAK COMMUNICATIONAL SKILLS

These are some major risks that can cause harm to your company’s reputation. People plays a vital role in earning your reputation in the society and the company’s management knows it very well. That how to use people opinion for the growth of your company and progress. If the company’s management don’t have excellent communicational skills then they can’t satisfy the stakeholders, customers and the employees of the company. Not only the customers and stakeholder’s point of view or opinion is necessary for good reputation but also the employ’s opinion matters in the good reputation. If the company have good communicating skills, then they can easily satisfy customers, stakeholders and the employees of the company.

DIFFERENT ATMOSPHERE

As we are living in the global village, we can easily understand the people’s nature belongs to the different nations. Each nation has its own traditions and customs. So, by knowing the nature of the people belong to different nations one can earn reputation and the risk of losing reputation decreases. So the people of different areas have different nature. According to the nature of the people and with the requirement of the area, the company should have to work accordingly to meet the expectations of that society.

Similarly, if one gets fame then he also has to face some rivals so be aware of your rivals, or whatever the field of your interest like company, organization, and firm etc. so just keep an eagle’s eye on them. As the techniques of getting fame are changing day by day, so one should work according to the changing mode of people. It takes the time to earn reputation while it may ruin in no time.       

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