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Aneysha Pearce explains why the Commonwealth Games fiasco has left the reputation of India’s government and the country in general in serious jeopardy.

Toyota has long been an auto industry frontrunner, consistently outpacing its peers on any number of fronts. But today, its once stellar reputation is under attack, between production issues and unprecedented recalls after the company's failure to respond to and correct problems in a timely manner. History has shown that companies which have built up reputational goodwill and swiftly and authentically responded to issues have weathered storms better than others.

Does reputation matter? If attracting and retaining the best talent, getting customers to buy more and pay more for products and services, and strong financial and/or stock market performance is a priority for your company—then the answer is “Yes.”

Does your company have a strong reputation? If it happens to be one of the 130 companies included in Prophet’s U.S. study, you will now be able to find out.

Corporate reputation must be built. It must be supported and managed. And, it must be an authentic reflection of the business — its culture, value system, and behaviors. Businesses that expect to experience the kinds of success achieved by best-practice organizations will understand that truth. And they will create and live the kind of meaningful purpose that will allow them, too, to more effectively reap the benefits of a strong reputation.