ACCT 001 Chapter Notes - Chapter 1: United States Federal Sentencing Guidelines, Longrun

• School: College of The Sequoias
• Department: Accounting (ACCT)
• Course: ACCT 001
• Professor: Cooper

Document Summary

Reputation: reputation is one of an organization"s greatest intangible assets with tangible value. The value of a positive reputation is difficult to quantify, but it is very important. A single negative incident can influence perceptions of a corporation"s image and reputation instantly and for years afterwards. Corporate reputation, image, and brands are more important than ever and are among the most critical aspects of sustaining relationships with constituents including investors, customers, financial analysts, media, and government watchdogs. It takes companies decades to build a great reputation, yet just one slip can cost a company dearly. Although an organization does not control its reputation in a direct sense, its actions, choices, attitudes, behaviors, and consequences do influence the reputation that exists in perceptions of stakeholders. Corporate governance and formalized responsibility: most businesses, and often courses taught in colleges of business, operate under the belief that the purpose of business is to maximize profits for shareholders.