The importance of reputation as intellectual assets for competitiveness of companies

Abstract

An important characteristic of the modern business world is the development of the knowledge economy. In modern conditions, intangible assets based on knowledge are becoming a key resource for preserving the competitive advantage of companies. It is about human resources, their knowledge, the relationships they build in order to develop and transfer knowledge, as well as the relationships they build with stakeholders. These relationships represent the relational capital of the company, and the reputation of the company is its important segment. Reputation is also an important factor in differentiating companies at the market and creating a relationship of trust, not only with consumers, but also with all other stakeholders. In this way, the company realizes significant economic and non-economic benefits. The aim of the paper is to point out the key advantages of a good reputation, from the aspect of creating value for the company 's stakeholders, as well as from the aspect of business performance. Also, the importance of reputation as a segment of intellectual capital for competitiveness is emphasized.