This document discusses the difference between corporate reputation and image, and why reputation is so important. It defines reputation as being earned through a company's actions, words, and what others say about it. Reputation attracts people and has value, while image is something that is built through marketing but costs time and money to create. It also outlines five key factors that contribute to strong corporate reputation: emotional attractiveness, products/services, financial results, the CEO, and social responsibility. Finally, it discusses how reputation is built in stages from awareness to advocacy.