Reputation Management Is

question 3

Multiple Choice

Reputation management is

• A) the process of building and sustaining a company's good name and generating positive feedback from stakeholders.
• B) the process of developing positive relationships with media sources in order to influence news about the company.
• C) not worth much effort, since stakeholders will make their own decisions about the company's actions.
• D) communicating how an organization wants to be viewed by its stakeholders and by the public.
• E) top management's efforts to protect its reputation so that top management can achieve greater job security.

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Definitions:

Productive Efficiency

A situation where a good or service is produced at the lowest possible cost.

Allocative Efficiency

A state of the economy in which resources are allocated in a way that maximizes the total benefit to society.

Collusive Oligopoly

A market structure where a few firms dominating the market agree to set prices or output levels, reducing competition and maximizing collective profits.

Limit Pricing

A strategy where a firm sets the price of its products low enough to discourage new competitors from entering the market.