Waters (2010) provides various definitions of organizational reputation as “the general estimation in which a person is held by the public,” “the state or situation of being held in high esteem” or “a cognitive representation of a company's ability to meet the expectations of its stakeholders.”
Just two days back, FORTUNE magazine released its annual list of the world’s most admired companies. Guess who made it to the top of the list for having the best reputation? Apple topped the list for the third year in a row!
A total of 667 companies from 33 countries were surveyed with more than 4,200 respondents, including executives, directors and analysts, who were asked to rate companies in their own industry on nine criteria, from investment value to social responsibility. According to FORTUNE magazine, the list represents an annual ranking of corporate reputation. This list of most admired companies will appear in the print edition of FORTUNE magazine on 22 March 2010, so check it out.
There must be multiple reasons why Apple has received this honor for the third time in a row. Apple does project an image that is true to the organization, it encourages interactions with stakeholders, it gives back to the community, it listens to its consumers, many people have emotional attachments to Apple, and the company seems to be concerned with long term success not just short term gains.
Waters (2010) says: "brand is your personality, but reputation is your real character." Apple has clearly paid attention to both brand-building and reputation-building. Why do you think Apple has the world's best reputation?
