Introduction

Abstract

Given the speed and diversity of the information on offer in today's global media society, the saturation of markets with high-quality, yet almost indistinguishable products, and a global shortage of qualified specialists, it is no longer self-evident that companies can retain employees and suppliers, keep their customers' loyalty, or convince investors to hold on to their shares for the long term. A growing tension is emerging between the emancipation of consumers and employees on the one hand, and their disorientation in a sea of information and goods on the other. Here, reputation is becoming more important as an intangible corporate asset and a means of orientation in society. This is because, for a long time now, product and price strategies have no longer been the only decisive factors for competition. Instead, the focus has increasingly turned to the competence, integrity and the attractiveness of a company in the battle for stakeholder trust. © 2009 Springer-Verlag Berlin Heidelberg.