In the modern management, it has emerged that there is a close relationship between business performance and corporate reputation. This is despite the fact that reputation of a business is a difficult concept to measure or to assess. It has been showed that healthy reputation acts as a risk suppressor.
With time, corporate reputation has become an important aspect of the way a company performs in the market and each and every company is striving to build a positive reputation since this translates to its sales in the market. Corporate reputation has been shown as a source of competitive advantage for a firm. (Omar and Williams, 2006)