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The private sector … is no longer private. Business, particularly big business, is scrutinized by the press as never before. How a company is perceived affects its recruiting, morale and the attitudes of investors, lenders of capital, potential joint venture partners — even the finance ministries of countries where the company wants to do business. More than ever, a company's image is reflected in its bottom line, and senior executives must manage the company's identity as much as they do any other asset or liability.

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