Role and Significance of Business Reputation in Business

The article considers the essence of business reputation from the point of view of entrepreneurs, clarifies its components and their interconnection. It studies a correlation between the "reputation" and "image" notions and also provides a comparative characteristic and differences between the firm's "image" and "authority" notions. It identifies connection between the business reputation and corporate culture and reveals the content of the corporate culture on the basis of generalisation of its definitions in the economic literature. It marks out and characterises four types of corporate cultures: hierarchical, market, planned and adhocratic, and ascertains the place and subordination of the "corporate culture" in the structure of "organisational culture" of entrepreneurs. It studies dependence of business reputation of a company on loyalty of employees and existence in the business of two types of loyalty. It proves that one of the factors of business reputation is a rotational personnel policy. It identifies directions of development of the corporate business reputation.