MORE THAN POSITIVE REP.
Web Reputation Management (Online Identity Management / Personal Branding)
An owner understands that his business’ public image means everything -- you could lose partners, employees, and customers with a negative one. Just look at companies which neglected their reputation for some time. Can't find one? Precisely!
And even if you're not a multinational corporation or a large-scale manufacturer of soda, you can still have a business so an overview of reputation management is in order. It might not be a mainstream yet but this sector is gaining attention as people and businesses shift the venue of interaction to the online world.
Your reputation in the real world is not enough.
If it's true that your real world reputation will eventually translate into the online world, then it follows that having a stellar rep IRL will fix its online counterpart, right? Not quite. You could do everything right with your business in the real world but without being aware of social media and the risks online, you're a sitting duck.