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Reputation Building: Small Business Strategies for Successful Venture Development

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  • Albert I. Goldberg
  • Gilat Cohen
  • Avi Fiegenbaum

Abstract

A positive corporate reputation can be crucial to successful venture development. Making use of the Strategic Reference Point theory, four reputation strategies were conceptualized: 1) dynamic exploitation of existing assets; 2) development of core competencies; 3) image management; and 4) strategic alliances. In a comprehensive investigation of three software enterprises in Israel, companies were found to differ in policies that possibly could lead to a good reputation. One company emphasized the long–term establishment of core competencies and remained a fairly unknown enterprise. A second company accentuated the short–term exploitation of assets and had a middling success in reputation building. A third enterprise invested in a broad spectrum of reputation building strategies and quickly developed a reputation for excellence in the field. In conclusion, corporate success often depends on the extent to which managers develop an integrated package of policies for systematically building the intangible asset of corporate reputation.

Suggested Citation

  • Albert I. Goldberg & Gilat Cohen & Avi Fiegenbaum, 2003. "Reputation Building: Small Business Strategies for Successful Venture Development," Journal of Small Business Management, Taylor & Francis Journals, vol. 41(2), pages 168-186, April.
    • Handle: RePEc:taf:ujbmxx:v:41:y:2003:i:2:p:168-186
    DOI: 10.1111/1540-627X.00074
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    Cited by:

    1. Yan Shen & Shuo Bian & Xinping Song & Xia Geng, 2024. "Research on Risk Assessment of Enterprise Public Opinion in Cross Social Media Context and Sustainable Development Strategies," Sustainability, MDPI, vol. 16(4), pages 1-23, February.
    2. Yihang Zhao & Jing Xiong & De Hu, 2023. "Reputation, Network, and Performance: Exploring the Diffusion Mechanism of Local Governments’ Behavior during Inter-Governmental Environmental Cooperation," Land, MDPI, vol. 12(7), pages 1-17, July.
    3. Gonzalo Maldonado-Guzmán & Víctor Manuel Molina-Morejón & Raymundo Juárez-del Toro, 2023. "Brand Management Measurement in Mexican Small Firms: Empirical Evidence," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 13(5), pages 1-7.
    4. Adrienn Reisinger & Roland Z. Szabó, 2024. "The event‐driven social responsibility in small and medium‐sized enterprises," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 3927-3939, September.
    5. Hildebrandt, Lutz & Kreis, Henning & Schwalbach, Joachim, 2008. "Eine Analyse der Dimensionen des Fortune-Reputationsindex," SFB 649 Discussion Papers 2008-061, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    6. Magdalena Majchrzak & Aneta Ejsmont, 2023. "Competitiveness of Small and Medium-Sized Enterprisesin the German-Polish Border Area in Timesof Extraordinary Threats," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 247-267.

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