ABSTRACT
The reputation management strategy (in the form of a study/document, or less formally as a concept present in the company, which summarizes certain strategic company objectives in this area), which a family business creates and implements to manage tangible and intangible assets and relationships in the business environment, is a tool for enhancing competitive advantage. Reputation management, due to its amorphous, delicate and elusive nature and the involvement of the attention of individual groups in the business environment, places particular demands on owners and managers of family businesses, as well as their employees, whose working environment is determined by family and business values, strong family influence and problems related to succession. Family businesses combine business activities with the family sphere. Due to today’s management conditions, family business managers face a number of strategic and operational management problems, as well as specific challenges arising from the circumstances and rules of family business.
