ETHICAL DILEMMA: REPUTATION
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The 2008 Corporate Reputation Study, completed by Leger Marketing in association with Marketing magazine, surveyed 1500 Canadians and found the following companies have the best corporate reputations:
1. Staples
2. Sony
3. Tim Horton's
4. Canadian Tire
5. Panasonic
6. Shopper's Drug Mart
7. Subway
8. Kraft
9. Honda
10. Toyota
Whereas, two years previously, in 2006 Canadians voted the following as the companies with the 10 best reputations:
1. Canadian Tire
2. Tim Horton's
3. Sony
4. Sears
5. Kraft
6. Nestle
7. Panasonic
8. Subway
9. McCain Foods
10. Home Depot
What do you think gives a company a good reputation? What are the criteria for a good business? What businesses do you think have a good reputation (name three not on this list)? What businesses do you think have a poor reputation (name three)?
Getting a good reputation is not easy. For me, I believe there are multiple aspects. Offering high-quality products with reasonable prices would make it very competitive in the market, customers always like to know the product they get worth every penny they’ve spent. Also, providing customers with a thorough and completed service system is another crucial factor. It is easy to satisfy a consumer when the person gets perfectly assisted, especially when he has a malfunctioned product from your factory. A business should also be honest. The trust between the company and the customers should never be broken – when a customer loses trust, he would never come back again. What’s more, I believe keeping the standards high is another essential method to get a good reputation. The rating of a company is most likely to drop when the business reaches it’s peak. Everyone should not relax at this point as the standards would drop dramatically when every component of the machine becomes lazy.
ReplyDeleteI consider Google, Starbucks, and Amazon has a good reputation because I constantly use their services and they are responsible for customers. Their products remain high-quality and they respect consumers.
I don’t believe Apple Inc., BP, and Walmart have a good reputation. Although Apple provides fairly good services, I don’t think their products are that worthy anymore. BP lost its reputation after the oil spill and Walmart treats their costumers poorly.
I agree with your definition of a good reputation, however disagree with your list of disreputable companies. I agree with Walmart, but not with your other two selections. Does Apple have a bad reputation just because their products aren't evolving as fast as they used to be? Similarly, I don't think that British Petroleum deserves a bad reputation just because they had an oil spill, which was probably an accident.
DeleteI agree with your factors that contribute to a company's good reputation as well as your examples of companies with a poor reputation. However, do you believe that Apple has a poor reputation primarily based off of their over priced products?
DeleteAlso replying to the other comment to this post, I disagree with your opinion regarding how BP should not have a poor reputation based on their oil spill. First off, although it was an accident, it was caused by poor precautions and inspecting. Secondly, as an oil company, oil spills are the greatest threat to your company and damage our environment to extreme levels. BP made a crucial mistake that I believe is non-forgivable when realizing that this mistake killed around 100,000 animals.
Many companies provide similar products and services, because the market is competitive. Therefore, customers will usually have a first impression on a company by its customer service and the service attitude. A good business should always serve their customers as their boss and perform professional attitude to customers while dealing with the problems. Then it comes to the quality and price of a product/service. A business should provide good product/service that meet standards at a reasonable price. For satisfying customer’s needs, the inventory should be sufficient. Last, a business should have good business ethics, a healthy working environment should be provided to the employee, the company should be actively take part in protecting the environment, taking responsibility of the land that they are operating on, and do authentic advertising.
ReplyDeleteA good business should always target the customer. It should be providing a product/service that has a market, a good price and what meets customer’s needs, give customers a good using experience. If the product/service benefits a customer’s daily life, that would be a great achievement that a business has made.
Businesses that I think have a good reputation are Whole Foods, Ben & Jerry’s Ice cream, and Amazon because, I feel like they always try to give their costumer the best services and treat them the best way.
The business brands that I consider have a poor reputation will be City bank, GM vehicles from U.S (Recalling cars for their potential fires) and American Airlines because, they don’t really take the time to treat their costumers well and because they think they are a big and an important company they forget to treat their costumer right.
I definitely agree with your comments that a good business needs to target their customer with competitive pricing but I also feel that they need to focus on their staff, because if they aren't happy, then the product won't make it to the customer. Customers not only want an exceptional product but they also want to deal with pleasant, positive person. Sometimes this is the difference between purchasing an item and walking out of a store empty handed.
DeleteI agree with you on what you said gives a company a good reputation and I too think that following customer service procedures similar to “the customer is always right” helps a company maintain a good reputation. Do you think that a business could still have a good reputation if they didn’t actively take part in supporting any environmental and/or social causes?
DeleteI agree with you that a good business should always target the customers, and it should always satisfy customers' needs and wants. However, do you believe a good business is also combination of good products and social ethics?
DeleteThis comment has been removed by the author.
ReplyDelete1.What do you think gives a company a good reputation?
ReplyDeleteI think that there are many factors that contribute to a company having a good reputation, each one different from the rest. One is reliability, meaning that you can trust the company that you will receive products ordered online, their service is consistent and other things like that. Another factor is quality, which depending on whether a company provides high-quality goods or services or not can affect their reputation. There is also a company’s ethics which can make them look good or bad if they are or aren’t an ethical company. Then, there is social responsibility which could include a company supporting good causes and speaking out about important issues. One final factor that I think gives a company a good reputation is customer service as if that’s poor the company will not be admired by consumers.
2.What are the criteria for a good business?
From what I gather, there are 5 main criteria for a good business. The first of those is that consumers need or want the product or service being provided. The second is high barriers to entry which is how easy it would be for someone to start the same business as you meaning how much competition will/could you have. Then, the third is the business owners control over decision-making and the fourth is that the business isn’t dependent on one person completely devoting all of their time towards all of the time to keep it profitable, successful and able to grow. Finally, the fifth is that the business is scalable which requires systems in place to allow it to scale and develop.
3.What businesses do you think have a good reputation (name three not on this list)?
Three businesses not on this list that I think have a good reputation are; Lush, Ben and Jerry’s and Apple. I think that Lush has a good reputation since they have a high-quality product, take social responsibility and are a very ethical company. The reason I think that Ben and Jerry’s has a good reputation is that they too, have a high-quality product and they’re a ‘green’ business. Finally, I think that Apple's reputation is good because of how admired their product is.
4.What businesses do you think have a poor reputation (name three)?
I think that Nike, SeaWorld and Neste all have poor reputations. I think Nike’s reputation is poor since they’ve been known for having their products made in sweatshops and for child labour. I think that SeaWorld’s reputation is poor because many people are against the captivity of those animals especially the whales and the horrible conditions that they’re kept in. Finally, I think that Nestle has a poor reputation because of their history of doing unethical things which includes issues about water and their baby formula.
Sources
Bracey, Leon. "The Importance of Business Reputation." Business in Focus. N.p., n.d. Web. 2 Aug. 2016. .
Bijdeveldt, Brian. "Top 5 Criteria For A Good Business." Linkedin. N.p., 1 Apr. 2015. Web. 2 Aug. 2016. .
For your criteria for a good business i agree with the first one which is the consumers need or want the product being provided and i believe that is what makes a good business. Although your other 4 criteria are certainly good for a business to have but in order to have a good business you need to please the consumers and meet there wants and needs effectively.
DeleteWhat do you think gives a company a good reputation?
ReplyDeleteSteve Matyas the president of staples said in the article that there is no single explanation for staples rapid climb up the rankings and I believe that this is the same for the reputation of companies. Staples didn’t go from 11th to 1st in 2 years by doing one thing right but by doing thousands of things right. In order for a company to earn a good reputation they need to consistently provide for the demands of the consumers and do it at a reasonable price. Yes, you will earn a good reputation by making a new product that everyone wants but in order for your company’s to keep on earning a good reputation you need to be doing this more consistently.
What are the criteria for a good business?
In my opinion a good business must meet the wants and needs of the consumers and do this effectively. Companies that meet the wants and needs of the consumers will gain more and more consumers. Meeting the wants and needs is not easy and not all business do this effectively but in my opinion this is the most important criteria for a good business.
What businesses do you think have a good reputation (name three not on this list)?
In my opinion 3 business that have a good reputation are Google, Netflix and sport check. These are 3 popular business that you can find in most parts of the world. Most people use google at least one a day and it is favorited over other browsers such as yahoo. Netflix is a new business but it seems to have a very good reputation. Also for sports check this is the desired store for most people when looking for sportswear.
What businesses do you think have a poor reputation (name three)?
In my opinion 3 business that have a poor reputation are blackberry, sears and taco bell. Blackberry used to be a popular company but now a days not too many people have blackberry’s. Sears has become less and less popular but what really gave them a poor reputation is losing 1billion dollars in 3 years. Finally, taco bell is known to get people sick from there food so that doesn’t help their reputation very much.
I agree with you, that a good business must meet the wants and needs of the consumers. But I also believe that for a company to do well on business need to have the best quality products as they can provide. For a lot of people the quality of the products it´s the most important factor.
DeleteI think that your point on what gives a company a good reputation is accurate and also that the three businesses you mentioned do have good reputations. However, as you said that you thought Blackberry has a bad reputation, do you believe that that is the reason for them becoming less popular?
DeleteI think that your insight regarding what gives a company a good reputation is very legitimate. Noticing that a company needs to do a thousands of little things right in order to gain a better reputation is very true. Also why do you think Blackberry declined in sales so rapidy?
DeleteI believe there are many factors that give a company a good reputation. Ethical behaviour on the company's part not only creates trust with the public but it also makes them more respected. This in turn brings attention to the customer, creating focus and developing a relationship between the the business and the consumer. Strong financial growth and profitability, as well as, reliability, which ensures quality products and services, also are signs of a reputable business. Finally, social responsibility is important because by giving back to the public or people in need, it shows that the company cares.
ReplyDeleteThe criteria for a good business are a combination of the qualities included in a good reputation, with honesty, a solid staff and positive work place and excellent leadership skills. All of these assets will result in a strong business.
The businesses that I feel have a strong reputation are MEC, Roots, and West Jet. MEC knows their market. They focus on the female consumer who is not only looking for the outdoor life but also wants the fashion and yoga component. Their successful rebranding gave them the ability to zoom in on their demographic and as a result, they are thriving financially. Roots is another business that thrives on excellent quality products, combined with ethical practices. While West Jet is known for going above and beyond in the customer service area.
The businesses with the poorest reputation are Walmart, Volkswagon and Seaworld.
Walmart gives the imprssion that they support their employees but they have been accused of discrimination, human rights violations and environmental crimes. Volkswagen was caught in a huge sandal that cost their company $87 billion. The company allowed software to be installed that allowed the vehicles to cheat the emissions test. Seaworld has been on a steady decline due to accusations of animal mistreatment. People don’t want to see animals out of their habitat, so zoos and places like Seaworld are becoming less popular. All of these businesses have bad reputations because they have poor business practices.
I disagree with your factors that give a company a good reputation. Reputation is defined as "the beliefs or opinions that are generally held about someone or something", according to Google- opinions or beliefs. Strong financial growth and profitability shouldn't necessarily mean that a company has a good reputation- in fact, it is often that the 'bad' companies that have the most financial growth, like Walmart. It has a bad reputation, but as a result of its low prices consumers still flock there. Apart from this first point, I agree with your post.
DeleteThere are a variety of things that give a company a good reputation. They should be ethical to consumers, employees, and suppliers, and be friendly to the environment. By ethical to consumers, I mean that the goods and services that the company has to offer should be high quality, or at least reasonable considering their cost, and shouldn’t try to mislead the customers. The employees in the company should receive plenty of benefits including sick days, paid vacations, and insurance, as well as being paid above the minimum wage. The company should also pay suppliers fairly (fair trade), and make sure that their products will not harm the environment more than they have to be.
ReplyDeleteI think that the two criteria for a good business is that they should earn more revenue than accumulate expenses and be ethical. I’ve outlined the ethics in the above paragraph. Apart from that, the only criteria for a good business is that it should keep existing, because without that it wouldn’t even be a business at all.
A few businesses that I think have a good reputation are Ben & Jerry’s , Unilever, and Apple-because these are all sustainable.
On the other hand, some businesses that I think have a poor reputation are Walmart, Hollister, and Abercrombie and Fitch. I don’t think Walmart has a good reputation because it sells knockoffs of brand name items. The clothing companies have a poor reputation because the clothes that they sell are often made in China, or some other developing country, which probably means child labour.
I disagree with your statement that ethics is the only factor that makes a company reputable. If ethics is your definition of reputable, then you may want to check out Apple before including them in your list of good businesses. Especially since they are presently withholding evidence from the FBI in a terrorism case. The suicide attack at Inland Regional Centre in San Bernardino, California, killed 14 people and even though there is incriminating evidence on the iPhone 5c used by one of the murderers that may help the investigation, Apple won't cooperate. It doesn't end there though. They, like Walmart, received a terrible report in 2016 when it came to how they treated their workers. Not only are they guilty of child labour by Amnesty International, but they also have been accused of limiting job mobility and keeping a lid on salaries. In addition, they were also accused of unethical hiring practises in its supply chains and repeatedly violating its Chinese suppliers with serious health and safety issues and environmental and human right violations. This doesn't sound like a 'good' or ethical business to me.
DeleteI liked you point about companies not misleading consumers and how that is a factor that contributes to a company having a good reputation. However, how do you think that there are companies that do mislead consumers, but they don’t have a bad reputation as a result?
DeleteI agree with your opinion that a reputable company should be ethical. However, I can't really believe that Apple is a "sustainable" company and has a good reputation. I actually investigated Apple before I wrote my own answer, and here is the article by Forbes: http://www.forbes.com/sites/alexepstein/2016/01/08/the-truth-about-apples-100-renewable-energy-usage/#a68454532565
DeleteAlso, Apple products no longer worth that much money, especially their computers. You can get a laptop with a much better performance with the same money you pay for a Macbook Pro 15". As Mitch stated above, their multiple issues with the government truly lowered its reputation.
I agree with your statement that there are a variety of things that give a company a good reputation. Could be ethical to consumer and employees, could also be that there products are really good and a lot of people like them and have a good service, also being friendly with the environment, all of these factors could help the company with a good reputation and all kinds of costumers.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteWhat do you think gives a company a good reputation?
ReplyDeleteCompanies with high values on corporate responsibilities and considered as well managed gain and increase their good reputation. By corporate responsibilities we mean, high ethical values, sustainable growth and profit, respectful for environment, socially oriented, in one word taking into accounts the stakeholders demands.
What are the criteria for a good business?
There is a set of different criteria to be considered:
- strong financial criteria
- sustainable growth and profit
- long term view
- high quality of human resource
- competitive edge
- clear strategy with strong operational objective
- expanding markets instead of narrowing markets
- Innovation capabilities
- lean organization
-…
What businesses do you think have a good reputation? What businesses do you think have a poor reputation)?
Good reputations: Microsoft, LEGO group, and Rolex.
Bad reputations: Comcast, Citibank, and American Airlines.
Thank you for sharing this information among us.
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