Any business by essence is a
profit making entity. But in the present day business environment, it is not
just profit motives by which the organisation should function, it needs to be socially responsible too.
For
a company, it is the money that matters the most but there are other things as
well that hold equal importance. Every business has various assets that are of
importance to the organisation. These assets could be tangible or intangible,
monetary or non- monetary forms. Amidst various assets of a company, the
reputation and goodwill of the firm also holds great importance. It is the
reputation of a company that enables it to survive in the long run. A company
that does not enjoy fair goodwill or repute in the market will cease to exist
after sometime. After all no one would like to be associated with a company
that carries a negative image in the market.