Tuesday, October 13, 2009

Reputation: the all-defining asset

1:27 AM Posted by: Slamun Atlanta 0 comments

It is widely accepted that a reputation can take a lifetime to build and a moment to tarnish, sometimes irreparably. Reputation has been described as being the culmination of many good things lost in one bad deed. But a reputation remains an intangible asset, almost impossible to quantify. It can be a nebulous concept, even more difficult to value than other intangible assets such as the knowledge or experience of employees. Preserving and enhancing reputation are becoming increasingly difficult tasks for businesses. The very technology that once gave them a competitive edge can now be used against them. Customers and employees are more sophisticated, more discerning and more readily prepared to mobilize. Legal and regulatory developments have become a more burdensome reality to test even the most unshakable of reputations. What is clear however is that reputation is often the primary indicator of every other risk a business faces. Ultimately, it is the sum of all parts.

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