THE ROLE OF BUSINESS REPUTATION (GOODWILL) IN THE FIELD OF BUSINESS INTERNATIONAL ORGANIZATIONS

Abstract

In modern market conditions, the legal and market importance of international organizations often do not coincide. The value of business reputation (goodwill) is gaining more and more importance in the world market in any field. Since every international organization is created with a specific purpose and goals, and its members and employees create the impression about the organization and are responsible for the quality of the services provided, or the possibility of their provision. In this connection, a fair assessment of the international organization in the world becomes especially relevant. The need for a fair assessment of internally generated goodwill is manifested in two aspects: in order to determine the future fate of a particular country, which entails as a consequence of continued cooperation between countries and their representatives; for the very management of the organization and the effective result of its action. More and more often, we can see that in the relations between international financial organizations and member states, situations arise when the economic or political advantages of a state’s membership in such organizations as, for example, the IMF and the World Bank Group are crossed out by the disadvantages of the hard course that international organizations pursue to ensure the achievement of goals , defined by their founding acts, and their strategy of cooperation with the member state increasingly resembles interference in internal affairs and sometimes begins to contradict the national interests of the state in the implementation of the national strategy of its economic development. In this case, the reputation of the actions of the employees clearly affects the future economic fate of the states that applied, for example, for a loan from the IMF. Creating a positive feedback about an international organization, firm or corporation can increase the level of trust in it, its prestige and authority, as well as mobilize unused potential and resource opportunities, overcoming the “alienation effect” and asserting all its advantages. For large international organizations to support their image, work with the mass media is especially important, since the large scale of operations requires fairly wide popularity, which can be achieved primarily with the help of the mass media. Representatives of international organizations should strive to create a positive image. However, very few executives actually do the work necessary to build an image and lay the foundation for an impeccable business reputation. The presence of a clear Sustainability of the development of international organizations will make it possible to maintain positive trends of change under the conditions of environmental instability, intensifying competition and uncertainty of the situation.