A Strong Corporate Image Business Essay

A Strong Corporate Image Business Essay Abstract For a variety of reasons, both academic and business interests in corporate image have increased significantly in recent years. Organizations have realized that a strong corporate image can help them align with the marketplace, attract investment, motivate employees and serve as a means to differentiate their products and services. Thus, many organizations are striving to develop a distinct and recognizable image. This paper investigates what organizations perceive as the essential components of the concept of corporate image and issue advertising. It proposes a general concept about the organization belong to 21st century are more focused towards the betterment of societal and environment. A detail analysis has been performed related to the companys assessment regarding to the carbon emission in relation with the consumer perspective and the importance of social advertising. A corporate image is the strongest determinant of any corporations sustainability. Stock prices can always co me back. Business strategies can always be changed but, when an organizations image is gravely injured, its really difficult, long-term, and uncertain. A risk to its image is a threat to the survival of the enterprise. Leaders who have built a strong image know what it takes: an internal culture that forges a positive opinion of the company by successfully coping with both expected and unanticipated challenges. They know that PR is not a bandage that will cover risky behavior. Most of all, they know they must understand their stakeholders, and that every companys solution must be unique. A companys approach must include structured engagement with investors, regulators, activist organizations, communities, and the media. The primary feature of this engagement is active listening. It provides a means for developing a trained intelligence that enables leaders to anticipate external responses to their actions. And, when necessary, it delivers a perspective that helps protect them from t he kind of competition-driven excesses that seem to arise so easily in our pressurized market environment. Failure to build a culture of attentive engagement can prove devastating, and the world has witnessed spectacular reputational collapses over recent years. Enron and WorldCom are the best known, but, at bottom, these are simple cases of thievery and fraud. An admonition not to steal would be lost on those who are striving to be creatively criminal. Of far greater interest to the great majority of CEOs, and more instructive of the dangers that can lurk in any corporations DNA, are the reputational compromises that have occurred at such companies as Merck, Marsh McLennan, Arthur Andersen, and Monsanto. Table of Contents 2 Introduction 3 Purpose: 3 Format 3 Essential components of corporate image HYPERLINK #__RefHeading__52079_896431004HYPERLINK #__RefHeading__52079_896431004 issue advertising 4 Corporate Communications 6 Corporate design 6 Corporate Culture 6 Behavior 7 Corporate structure 7 Corporate strategy 7 Steps in building corporate image 9 Top management involvement: 9 Select appropriate Model 9 Involvement of Stakeholders 9 Motivate employees to become corporate representative 9 Communication tactic 9 References 10 Introduction Purpose: The image of organization, as of the viewpoint of customers, is the basis of a high-quality corporate image building program. Effective image management surrounding brand traits is of dominant importance in achieving goals of the organization. Social advertising effectiveness can be calculated by marketing evaluations. The rationale of this paper is to analyze the strategies of effective corporate image, edifice and supervision the same with indication to acquiring maximum customer value for long-run organization gains. Format The paper reviews the literature on the corporate image building and develops arguments in reference to the corporate image and issue advertising. The debate in the paper is emphatically extended over how companies are assessing carbon consciousness among consumers, issue advertising, media impact on corporate image and environmental knowledge. This paper also discusses the essential components of corporate image and issue advertising, process that builds corporate image through media communication and stakeholders involvement. Essential components of corporate image issue advertising The essential components of corporate image and issue advertising are as follows: Corporate Communications Controlled corporate communication Uncontrolled communication Indirect communication Corporate Design Corporate visual identity system Application of CVIS Corporate Culture Corporate philosophy Corporate values Corporate mission Corporate Principles Corporate guidelines Corporate History Founder of the company Country of origin Subculture Behaviour Employee Behaviour Management Behavior Corporate Structure Brand Structure Organization Structure Corporate Strategy Differentiation Strategy Positioning Strategy Corporate Communications Elif Karaosmanoglu, [2005] corporate communication is a term that encompasses all the ways in which the organization communicates with its various stakeholders. Thus, all of the messages emanating from an organization, everything that it produces and all of the activities it is involved in will act to shape stakeholders perceptions. Corporate communication can be both controlled and uncontrolled in nature. Communication intentionally instigated by management with the aim of improving stakeholder relationships is classified as controlled corporate communication. Conversely, uncontrolled communication takes place when organizations influence stakeholders perceptions unintentionally. Corporate design Corporate design is a term used to describe the vast number of visual cues that are associated with a specific organization. Corporate visual identity system (CVIS) is composed of five main elements: the organizations name, slogan, logotype/symbol, color and typography. Visual identity can be conveyed in other ways, for example, through the companies products and vehicles and the location as well as the architecture of its buildings. The interior office design, for example, may symbolize many aspects of the corporate culture. Simà µes, Dibb Fisk, (2005), The creation of strong corporate identity, including identity signs, is crucial for companies to encourage positive attitudes in its different target publics and may provide an important competitive advantage . Corporate Culture T.C. Melewar [2005] there is a plethora of different views as to what constitutes corporate culture. Some argue that it is strongly associated with rituals, for example, one interviewee explicit stated that culture: . . . is the way we do things around here. There is a range of views concerning the relationship between corporate culture and corporate identity. Culture epitomizes the consensus within a company about how activities should be accomplished and is conceived as a result of a groups shared experience and learning with respect to matters of external adaptation and internal integration. Behavior Behavior is another fairly intangible aspect of corporate identity. However, an analysis is made easier by breaking it down into a number of elements that make up behavior including, corporate, employee and management behavior. Many commentators suggest that the actions of a corporation are a fundamental element of its identity. Albert and Whetten [2003], asserted that an organizations brand identity should achieve three things: capture the essence of the organization, distinguish the organization from others and exhibit the same degree of commitment in behavior over time. Corporate structure Corporate structure consists of organizational structure and branding structure and is cited by several authors as being a fundamental component of corporate image. Brand structure: organizations engage in branding strategies in order to differentiate themselves from competitors. Strong brands are fundamental in establishing an identity in the marketplace, strengthening customer loyalty and for many companies are vital in counteracting the growing power of retailers. Organizational structure: The organizational structure is associated with the organizational hierarchy, lines of communication and reporting responsibilities. Of greatest importance is the degree of centralization and decentralization, in terms of both geography and across products Corporate strategy Corporate strategy is the blueprint of the firms fundamental objectives and strategies for competing in their given market. It thus determines what the company produces, the level of profit made and stakeholder perceptions about the company. Many commentators suggest that a strong link exists between corporate strategy and corporate image. Price Water House Coopers [2003] non financial performance is more important than current financial results in creating long term share holder value. Non-financial results sometimes are more important in developing a overall corporate image for example developing a process that will generate less CO2 emission as compare to old processes. Steps in building corporate image Top management involvement: Every branding strategy begins from the board room. Top management involvement helps organization in building strong corporate image. Corporate image is totally a strategic decision taken by the senior management of organization. Select appropriate Model Business Model is the spine of branding strategy. So, it is significant to choose the best replica for your business or put up your own. Because each business has its own wants and working background, therefore, it is best to construct a model which is aligned with the company needs and values Involvement of Stakeholders Stake holders are ones who are directly affected with the organization decision, company should take them in to confidence and involve them in decision making. Initiate activities resulting in the betterment of share holders. Motivate employees to become corporate representative Provide proper knowledge to employees for, e.g., vision, mission, values, and work culture. They can be the best representative of your organization. Educate them about the goals and future aims of the organization. Communication tactic Communication tactic is of prime importance when it comes to create strong brand image. A well planned and defined marketing strategy is helpful in understanding customers needs, helps is identifying issues need to be advertised in order to build strong brand image.