Corporate reputation management involves the production and management of a good image. A fresh reputation could be produced at a business’ launch, when a brand new management team takes over, when the business draws in fresh investment or if the company chooses to reposition itself within the industry. It isn’t normally sufficient to possess a ‘good’ reputation but ordinarily a reputation is required which will attract that which the company needs and wants. The next element of corporate reputation management consists of responding to current events in an effort to shape events to the business’ advantage. Using the right experience a business can usually retain a reputation or even enrich a reputation inspite of an allegedly adverse progression displayed by the media. At times when corporate reputation management becomes reactive it’s also critical to have a plan in position for crisis communications. These types of communications may differ substantially in their makeup from communicating with staff members to supply them with an update on the circumstances to contacting the media and issuing a press release or other kind of educational session. Such crisis communications is usually imperative to maintaining an image that has been crafted over many yearsor even enhancing an image when confronted with catastrophe. If practices for crisis communications are established well ahead of a crisis manifesting, businesses can quickly execute such operations should the worst transpire. This allows for a fast reply from the company and helps to ensure that staff members are aware of the problem and know how to respond to the dilemma. This time saved might make the difference between a reputation which is ruined and one that is rescued. Any business that desires to generate, maintain and boost a good reputation within their marketplace should utilise proper corporate reputation management. By implementing the expertise of corporate reputation management businesses can produce a good reputation from the start, create a fresh reputation if the firm changes direction and maintain such a reputation if a crisis arises. In conjunction with successful crisis communications companies can have practices in position as a way to manage crisis situations and maintain a favourable reputation or even enrich a reputation irrespective of adversity.