BUSINESS REPUTATION OF ENTERPRISES: DEFINITIONS, STRUCTURE AND REPUTATION RISK MANAGEMENT

Igor Korzhevskyi; Iryna Mihus

doi:10.36690/2674-5208-2022-3-89

Authors

Igor Korzhevskyi KROK University https://orcid.org/0000-0003-3012-0735
Iryna Mihus KROK University https://orcid.org/0000-0001-6939-9097

DOI:

https://doi.org/10.36690/2674-5208-2022-3-89

Keywords:

business reputation, reputational risk, company's business reputation, image, information transparency, security, compliance

Abstract

The article is devoted to the study of the essence of the scientific category "business reputation", as well as its structure and components. The purpose of the article is to establish the impact of business reputation on the economic security of enterprises based on the study of the main definitions and structure of business reputation. The main methods of research are the methods of analysis and synthesis, the method of comparative analysis, the method of systematization, and the graphic method, which contributed to the achievement of the set purpose. The main results of the article are the author's interpretation of the concept of "company's business reputation". The article also summarizes the main components of the company's business reputation, namely: image; reputation of the manager; information transparency; transparent organizational culture; financial stability of the company; goodwill social adaptability of the company; product quality; compliance. As a result of the research carried out by the author, the definitions of the scientific phenomenon of business reputation were systematized according to the multi-level principle in terms of different approaches; legal; marketing; marketing and accounting; marketing process; accounting; accounting and legal. According to the results of the scientific work on reputational risks, we systematized the main types of such risks: direct actions of your company and company practices; actions of employees, leaders, investors, or anyone that directly represents your business or has a relationship with your business; direct actions by partners or suppliers; as a result of external factors, like customers. Effectively managing reputational risk involves five steps systematized, namely: assessing company's reputation among stakeholders; evaluating company's real character; closing reputation-reality gaps; monitoring changing beliefs and expectations; putting a senior executive below the CEO in charge. Therefore, taking into account the above, the main measures for effective management of reputational risk are proposed, which can become the basis of further research.

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Author Biographies

Igor Korzhevskyi, KROK University

Postgraduate student, «KROK» University, Kyiv, Ukraine

Iryna Mihus, KROK University

Ph.D. (Finance), Doctor of Science (Economics), Professor, "KROK" University (Ukraine), Scientific Center of Innovative Research (Estonia)

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