Reputations can be a theoretical nicety until it really comes under sustained pressure. Then their real worth becomes apparent.

Sometimes it can be caused by an external threat - just ask TalkTalk - or by an internal decision - have a conversation with VW. But companies can also be named and shamed because of their day-to-day business practices and operations, fully accepted and agreed by those leading it. The Government is using the practice against those not paying the minimum wage, HMRC publishes details of tax defaulters and politicians and the media have used official company data, such as that lodged with Companies House, to call out tax payments.

In other words, reputations are not always damaged as a result of unexpected and unforeseen crises but because of deliberate business decisions. Under these circumstances, the damage on a reputation can be fully assessed.