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Trust and reputation in the age of globalisation

In: Reputation Capital

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  • Mark Eisenegger

    (University of Zurich)

Abstract

It will be shown in this paper that the reputation of all agents in our society invariably consists of three components. Firstly, their own competence and associated successes must be continuously demonstrated (functional reputation). Secondly, agents must adhere to social norms and values in a responsible way (social reputation). And thirdly, every agent relies on an emotionally attractive profile to separate him sharply from his competitors (expressive reputation). On the basis of this threedimensional reputation approach, it is examined how the logic of reputation constitution has changed in the age of globalisation. Among other things, it becomes evident that the greatest reputation risks lurk in the sector of social reputation. In today’s global communications society, significantly more attention is generated by denouncing moral misconduct than by honouring socially responsible behaviour. In particular, companies that boast in their external communications of having a clean vest carry a high risk of falling into the “moral trap”. One of the rules of successful reputation management described in this paper is consequently: credible social commitment builds on actions and not on words. This rule applies all the more strongly at times like the current crisis of the financial markets. The concluding focus of this paper is directed to this crisis and its consequences for the reputation dynamics in the economy and society.

Suggested Citation

  • Mark Eisenegger, 2009. "Trust and reputation in the age of globalisation," Springer Books, in: Joachim Klewes & Robert Wreschniok (ed.), Reputation Capital, pages 11-22, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-01630-1_2
    DOI: 10.1007/978-3-642-01630-1_2
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    Cited by:

    1. Chaudhary, Sanjay & Dhir, Amandeep & Ferraris, Alberto & Bertoldi, Bernando, 2021. "Trust and reputation in family businesses: A systematic literature review of past achievements and future promises," Journal of Business Research, Elsevier, vol. 137(C), pages 143-161.
    2. Faseeh Amin & Mohammad Furqan Khan, 2021. "Online Reputation and Stress: Discovering the Dark Side of Social Media," FIIB Business Review, , vol. 10(2), pages 181-192, June.
    3. Szczanowicz Justyna & Saniuk Sebastian, 2014. "Implementation of CSR concept in manufacturing SMEs," Management, Sciendo, vol. 18(1), pages 1-12, May.
    4. Szczanowicz Justyna & Saniuk Sebastian, 2016. "Evaluation and reporting of CSR in SME sector," Management, Sciendo, vol. 20(1), pages 96-110, May.
    5. Nuntana Udomkit & Volkmar Ensslin & Roman Meinhold, 2020. "Three Stages of Trust Building of International Small- and Medium-Sized Enterprises," Global Business Review, International Management Institute, vol. 21(4), pages 906-917, August.
    6. Baccarella, Christian V. & Wagner, Timm F. & Kietzmann, Jan H. & McCarthy, Ian P., 2018. "Social media? It's serious! Understanding the dark side of social media," European Management Journal, Elsevier, vol. 36(4), pages 431-438.

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