Reputation Management

Abstract

The recent economic crisis has again highlighted the trend to question business’ intentions and strategies in the media and society as a whole. Additionally, social media has opened up new participative and ubiquitous means of communication. Liehr and Storck not only see a topic related shift of corporate communication towards corporate social responsibility (CSR) and business sustainability but also suggest a much broader approach to stakeholder dialogue. The authors show that traditional media has much less influence on stakeholder groups, which have direct contact to a corporation. Reputation being a key driver of corporate value, managing reputation thus needs to be treated as a key leadership responsibility in order to achieve the strategic goals of any organization.