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The studies of CeSAR begin with a theoretical investigation of the concept of reputation; these studies have resulted in the following definition:
"Reputation is the overall opinion of an organization, of anyone who in any way directly or indirectly influences its operation."
Such overall opinion is based on:
- direct or indirect experiences of stakeholders with the organization;
- communications and symbolism that supply information on the actions of the organization or a comparison with the actions of the competitors.
Reputation is composed of two fundamental elements:
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trust: is about expectations of future behavior of the organization. This is a long term reputational component on which it is possibile to build stable relationships with stakeholders. It is based on actions and is very difficult to repeat; consequently it represents a solid competitive advantage;
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emotional involvment: is about feelings like admiration and sympathy. It is a facilitator of relationship trust with the stakeholders, on which it is possible to intervene through symbolism and emotionality of communication, without necessarily producing deep long term effects.
Reputation influences the future performance of the organization in that:
- improves the level of trust of clients;
- increases the committment and dedication of personnel;
- increases the collaboration and the quality of suppliers;
- facilitates the collection of financial resourses at low cost;
- favours support and sustainance of the society and of the local community;
- favours dialogue with institutions and media.
A good reputation therefore constitutes a fundamental stategic asset and guarantees an advantage over competitors.
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