follow the requirement
duty13
ManagingCorporateReputations-LECTURE5.1.pptxManaging Corporate Reputations
BU52034
Stakeholder management and business ethics
Objective
Examine the nature of corporate reputations and their impact on organizational performance and sustainability.
Gain a strong theoretical understanding of what we mean by corporate reputations, how they are generated, how they are sustained and how they are damaged.
Discuss the corporate reputations of a range of organisations
What is Corporate reputation?
Why is it important?
How we measure it?
Reputation
Corporate reputation comprises social image, financial image, product image and recruitment image (Fomburn, 1996).
Brand Equity
Brand Awareness
Perceived Quality
Brand associations
Brand loyalty
Discipline Definition
| Discipline | Definition |
| Economics | Reputations are traits or signals that describe a company’s probable behaviour in a particular situation. |
| Strategy | Reputations are intangible assets that are difficult for rivals to replicate and thus can create sustainable competitive advantage. |
| Marketing | Reputation describes the corporate associations that individuals establish with the company name. |
| Accounting | Reputation is one of many types of intangible assets that are difficult to measure but create value for customers |
| Communication | Reputations are corporate traits that develop from relationships companies establish with their multiple constituents. |
| Organization Theory | Reputations are cognitive representations of companies that develop as stakeholders make sense of corporate activities |
| Sociology | Reputational rankings are social constructions emanating from the relationships firms establish with stakeholders |
Good Reputation?
Credibility
Reliability
Trustworthiness
Responsibilty
CORPORATE REPUTATION
Fombrum, 1996 Harvard Business Review
Why is it important?
Reputational benefits
Influencers
Roper and Fill, 2012
External
Corporate reputation
Internal
Relational
How Reputation is formed?
Product/service quality
Customer satisfaction
Reputation
Profitability
Market position
Innovation
Corporate Reputation
Customer Service
Employee Satisfaction
CSR
Vision & Leadership
Roper and Fill, 2012
Brand reputation interface
The brand is the company
Values are difficult to imitate
Different stakeholders are important
Forbes (list)
Interbrand (Best Global Brands)
Dr Arlo Brady (Reputational risk)
Sources of reputation
| Category | Attributes |
| Knowledge and skills | Employee talent pool, drivers of innovation |
| Emotional connections | Consumer’s perception of value, stakeholder alignment |
| Leadership, vision and desire | Governance style and practice, motivation and vision |
| Quality | Product or service delivery history, consistency |
| Financial Credibility | History of creating better than average returns |
| Social credibility | Good citizen, licence to operate etc |
| Environment credibility | Must not be seen to add negative legacy for future |
Reputational Quotient(RQ)
Rep Track (Pulse)
Conclusion
Corporate reputation matters and can be lost
There are significant commercial advantages to maintaining a strong corporate reputation
Corporate reputation should be managed and can be tracked, measured, mapped and benchmarked
Thank you
