There are three elements to Corporate Reputation. These are referred to
as the reputational radar.
1) Brand Reputation: how the
public perceives a brand?
2) Organisational
reputation: what the public think
about the ‘organisation’ as opposed to the ‘brand’. For example, Unilever PLC
has a house of brands and also has individual sub-brands. Therefore the public
reputation of the company can be different from the reputation surrounding each
of the individual brands.
3) Stakeholder reputation: the
reputation that stakeholders have about the brand or the company that they are
dealing with.
When you are discussing Corporate Reputation, it
helps to define and be clear about which element of reputation, from the list
above, it is that you are specifically referring to.
Definition of Reputation.
There are lots of different
definitions of what corporate reputation might consist of. The main point is
that corporate reputation has to be earned. A company can try to forge and
carve their image, however, whether that image will lead to a favourable
reputation (which is aligned with the image and therefore hopefully a positive
reputation) will depend on the actual activities and the tangible results, good
or bad that customers experience.
Corporate Reputation Framework.
Corporate Reputation is the
endpoint in a chain. A chain that comes from the corporate image, with
the corporate image coming from the corporate identity or brand; which will, in
turn, come from the personality that the organisation is trying to create.
Lastly, all of these elements are wrapped up in the corporate communications
that the company is producing.
Benefits of Corporate
Reputation.
Corporate Reputation acts as a
lynchpin for all of these concepts in the reputation framework, with lots of
things feeding into it such as the image and reputation and what the
organisation does to enhance the reputation. The main benefits of having
a solid reputation are trustworthiness and credibility. Corporate
Reputation determines the levels of credibility, trustworthiness,
responsibility and reliability that a stakeholder has with the organisation.
It is also worth noting that
an organisation may own a brand and may also try to create its image around
that brand but it is the stakeholder that owns and create the reputation.
In summary, it does not really matter what a company does because what determines the organisation’s reputation is what the stakeholder’s think of it; managing Corporate Reputation is therefore all about managing the stakeholder’s perceptions.
As usual, we remind you to take your Memo Plus Gold daily. It will help to keep you alert and mentally sharp. For more information or to order for Memo Plus Gold, please visit : https://oze.my.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.