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Question:
There are many reasons why a company should pay attention to their reputation as it relates to their future vendor relations and product supply costs and availability.
Complete the following:
Discuss why it is important for organizations to manage their reputation by answering the following questions:
What impact could a poor quality product have on a company?
How does reputation help a company to be more competitive?
How do you think a company can improve their vendor and customer relations?
Summarize 3 examples of what goes into the reputation of a company.
Be sure to include your references, and format your submission in APA format
Verified Expert
The solution discusses the importance for companies to pay attention in building reputation as it relates to their vendor relation, vendor and customer relations. The solution has answered the required four questions. The first answer is about the impact of poor quality product on a company's brand image. Second answer is about the building reputation to gain competitive advantage. Third solution discusses how a company can improve its vendor and customer relations. In summary it discusses the three examples of TATA amazon and Walmart showing the importance of building reputation.
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