From the point of view of competition, in today`s market conditions, entrepreneurs become more important not material values than material ones. One of the most important non - material values is reputation. The reputation that each tnterprise possesses is a strategic value in its dealings with its stakeholders and, in addition, it plays an important role in differentiating the enterprise in the eyes of their stakeholders. The reputation is affected by many risks faced by enterprises. In this sense, each company protects its reputation, which is constantly exposed, to risk. Enterprises should develop systematic practices that consist of a forward-looking strategic exclusion of reputation risk; and should develop a distinctive risk management plan. This paper examines the importance of reputation for enterprises, reputation risk management and the role in the effective implementation f this process.
