Having a local community which supports the company is important. The community will have potential stakeholders in them who will exert influence over the business.
The relationship can bring positive and negative measurements. The negative measurements are when the company may hurt their customers and make them unhappy. Then in turn the community will retaliate against the company, but then the company will do something to regain their customers and make a positive relationship. Those are the positive measurements.
This is important to make the business strive for greatness. I know from personal experiences, that if the company does outreaches in the community, it leaves a good impression on the community. You almost become bias because other companies that may try to do outreaches in the community will fail because they did not do it first and are probably not as great.
The relationship between the community and a company is always important. They need to be one to become great.