Reputation management in small and medium-sized enterprises

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“It takes 20 years to build up a reputation and five minutes to ruin it.” This insight highlights the fragility of corporate reputations, as seen in companies like British Petrol, Deutsche Bank, Nike, Siemens, and Volkswagen. Despite their status as world market leaders and trendsetters—such as British Petrol in sustainable resources and Nike in sports goods—these companies have faced significant reputational crises linked to environmental pollution, mass layoffs, child labor, corruption, and fraud. The core issue lies in their inadequate management of reputation and a failure to recognize the influence of stakeholders. Reputation Management involves systematic efforts to positively shape a company's image and is now essential for effective corporate governance. Historically, multinational corporations have dominated reputation issues, but the rise of the Internet and mobile communication has made reputation management crucial for businesses of all sizes. This shift presents new challenges, particularly for Small and Medium-sized enterprises. This work aims to clarify the evolving landscape of reputation management and its implications for companies today.