Corporate reputation refers to the perception that stakeholders, including customers, employees, investors, and the public, have about a company. It is shaped by various factors such as the quality of products or services, ethical practices, and overall business performance. A strong corporate reputation can lead to increased customer loyalty, better employee retention, and enhanced financial performance.
Maintaining a positive corporate reputation is crucial for businesses, as it can influence their ability to attract talent and secure partnerships. Companies often engage in reputation management strategies, which may include public relations efforts, corporate social responsibility initiatives, and transparent communication to build and sustain trust with their stakeholders.