The age of reputation
Reputation has always been important for organizations. With the rise of digital business models and sharing platforms, however, having no reputation has become almost worse than having a bad reputation. Hunting for “stars”, the icons of the reputation economy, is a prerequisite for survival in e-commerce in general and on sharing platforms in particular. As such, understanding how reputations are formed, how they are used, and why they are so important has become a paramount concern in marketing departments and C-suites around the globe. In contrast to the dystopian sci-fi world in Charlie Brooker’s Black Mirror story, “Nosedive” (see Box 1), there is still a life without ratings, but hardly anyone or any organization can avoid the need to build their reputation solidly by means of ratings and rankings.