Roger Claessens No Comments

I would like to draw your attention to a recent article published by Ernst & Young in PERFORMANCE (preview) underlying the fact we move towards a reputation economy. Having a good reputation has always been necessary but the fact that we seem to attach even more importance to it and qualify a new economic environment with it is quite new. It comes as a sort of natural consequence of the “knowledge economy and the accent on the knowledge worker”.
What does it mean?

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Think about a hotel reservation, at same price, same place you will naturally look at the customers’ evaluations to select the one where you are going to

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stay. Most products and services have been evaluated one website or the other. Consumer reviews are familiar on line tools.

“The more we trade on line the more important it will become to establish our credentials.” The reputation economy is likely to save us time in the future by building trust across platforms. It will act as quality labels or ratings. “Managing our reputations online is shaping up to the cornerstone of the 21stcentury economy.” In all likelihood, in the future,

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the quality of your online reputation may play a key role

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to your personal credit rating when it comes to buying and selling goods and services on line.

Indeed, reputation systems are emerging as a valuable form of capital. Gradually power and influence might well shift to those people who have the best reputations and trust networks.