Target's Reputation Case Study

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It is said that there are three main components for reputation: managerial reputation, financial reputation and product reputation (de Castro, 2006). The reputation of any business is essential for its success. It can be their best asset or their worst. Companies, such as BP, require public support in order to run. If they have a bad reputation for whatever reason, people will find out either by word of mouth or social media. Once a business has done something to taint its reputation, it is hard to gain back the public trust. In the situation with a breach of credit information that Target faced, they had more than 100 million customers who were affected. This caused Target to take a huge financial hit afterward along with the loss of customer