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Yet, in the right environments, such as the startup technology sector, reputation can push people to pursue innovation at the risk of a secure paycheck.
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My view is that if we tamper with QAA or its methodology it could become a political football, putting the sector's reputation and autonomy at risk.
Angela Knight has admitted she will leave her job as boss of the power industry's lobby group next week with the sector's reputation still badly tarnished.
More competition would also lead to universities concentrating on money-making subjects, which could damage the sector's reputation for academic quality, he warned.
Nationwide insisted its results were evidence that mutuals can be successful in retail banking, amid fears that the woes at the Co-operative Banking Group had tarnished the sector's reputation.
But with little government oversight and inexperienced clients, the sector's reputation was tarnished by fly-by-night operators offering worthless degrees.Since then, sensible rules and incentives have turned things round.
The sector's reputation has been damaged as a result.But there is less competititon for those managers that remain, especially as investment banks are devoting less capital to proprietary trading.
If we don't, the sector's reputation will continue to suffer and as public pressure and media scrutiny builds, so does the likelihood that certain forms of fundraising will be banned all together, costing charities millions.
The code is the first step toward improving the sector's reputation".
Few drug companies will post the kind of double-digit earnings growth in 2002 that has given the sector a reputation as safety stocks.
Mackey blamed "the Enrons, the Bernie Madoffs, the Worldcomms" for destroying the financial sector's reputation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com