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Reputation: Realizing Value from the Corporate Image, by Charles J. Fombrun, Boston: MA, 1996, Pp. x + 441. $29.95. ISBN 0-87584-633-5.
What represents one of the most valuable, most often ignored, and little discussed assets of a company? According to Charles J. Fombrun, it is a firm's reputation, the subject of his new book. In the concept of reputation, Fombrun sees many important elements that tie together a company's image, its relationships with stakeholders, the successful marketing of its brands, its financial performance, and how it deals with the public during both normal business operations and during crises. Fombrun's purpose is to describe reputation and its elements; how it is valued; and how it can be created, sustained, enhanced, and changed. He makes the case that reputations are especially important for service firms, shedding much needed light on this neglected aspect of services management and marketing.
The first half of the book consists of eight chapters describing how companies compete for reputation. This analysis covers such concepts as image, identity strategy, and organisation. Fombrun identifies several key traits that characterise excellent companies and form the basis for good reputations. Not surprisingly, these include trust, credibility, pride, quality, service,...