| Summary: | Clearing the aftermath of a series of high-profile scandals that have irreversibly changed the corporate landscape, we now live in a business world where perception is valued as much as performance and profit. (Hill & Knowlton, 2006, p.1)
An organizations success, to a large extent, depends on the building and maintaining reputation. Understanding and monitoring the way companies are perceived by their stakeholders, and their changing expectations, will help the company to develop and improve the effectiveness of their activities and communications, by adding value to the organisation.
Corporate reputation management has always been important. But in today's market where consumer trust is at an all-time low, discerning companies are acknowledging the importance of their own corporate reputations as corporate assets. Corporate reputation is based on universal values, ethics, good governance, social responsibility sustainable development, corporate identity and culture. Corporate reputation combines the intangible concepts (brand and corporate culture) with the tangibles ones (financial results and marketing corporate reputation is built on the basis of the following: service quality, financial results, vision and leadership, emotional attachment, corporate social responsibility and the working culture and environment. The trick is to make the 'corporate citizenship' powerful and highly visible without looking as if the organization is acting just out for glory. (Alsop, 2004)
|
|---|