How Do Firms Develop a Distinctive and Positive Reputation? How

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The Answer is Firms can develop a distinctive and positive reputation by consistently delivering high-quality products or services, maintaining strong ethical standards, and actively engaging with their customers and communities. This can be achieved through transparent communication, ethical business practices, and a commitment to social responsibility.

The general public can affect a company's reputation through their perceptions, opinions, and actions. This can be through word-of-mouth, social media, online reviews, and public demonstrations. The public's perception of a company can be influenced by its actions, behavior, and the way it responds to criticism or feedback.

One organization that has successfully recovered from having a bad reputation is Johnson & Johnson. In the 1980s, the company faced a major crisis when it was discovered that some of its over-the-counter medications were tampered with, resulting in several deaths. Johnson & Johnson responded swiftly by recalling all of its products, cooperating with law enforcement, and implementing tamper-resistant packaging. The company also launched a massive public relations campaign to rebuild trust and reassure the public of the safety and quality of its products. Through these efforts, Johnson & Johnson was able to restore public confidence and regain its positive reputation. Today, the company is known for its commitment to consumer safety and ethical business practices.

How Do Firms Develop a Distinctive and Positive Reputation? How

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How Do Firms Develop a Distinctive and Positive Reputation? How

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Correct Answer:Answered by ExamLex AIShow Answer

Correct Answer:
Answered by ExamLex AI