ManagementParadise.com - Worlds Leading Management Portal. Online MBA | Classroom to Boardroom and Beyond
 
  Articles Details
Print Email  Add to briefcase

Building Corporate Reputation In Market > Here's a must read

by Sunanda K. Chavan on Saturday 12 February 2011, 3:44 PM | Category: Marketing| View: 1356 views
 
 
Advertisements
 

Building Corporate Reputation In Market > Here's a must read

 

 

Employees who feel unmotivated are a common feature in companies around the world. People can quickly lose interest in work that is repetitive, unnecessary, too easy or too difficult. Let the employees be informed about the on goings in the firm and the one more thing is that they should constantly motivate on the things they do. Implement 3 I's i.e. information, incentive and innovation. Regular contact with the upper level management will make staff feel more like a team member. Tell your staff the bigger story of the company and make sure they know where their work fits. More than anything else, research has shown that employees want to feel appreciated by their supervisors. Regular encouragement is a great motivator. Have clear targets/goals for set periods of time.  Managers at non-innovative companies have more trouble managing staff and fostering motivation that those at companies that encourage thinking outside the box.  Employees should be encouraged creatively so that they feel they have control over their job and are often bored by the dull repetition of their tasks. Allow your staff to think innovatively about their jobs and your company and to share those ideas.

To foster an innovative culture at your company

Be receptive to new ideas, no matter when they come or who they come from.

Reward creativity.

Make sure credit goes to the person it belongs too.

Do not punish failure

Make sure your employees are not so afraid of failing that they shy away from trying new things.

Formalize the creative process

Schedule regular brainstorming sessions, providing staff with a channel through which to communicate new ideas.

Reputation scorecards are a key management tool for mapping the drivers of corporate reputation as perceived by customers, employees, analysts, the media and other opinion formers. Echo has developed an accessible, graphical scorecard that can be tailored to the needs of the individual organization to enable you to benchmark competitors and get a rating of your corporate reputation over time. Corporate reputation management is the business of directing all aspects of an organization's performance from the perspective of one of its most important attributes: reputation. Senior management ever more realizes that reputation can make or break a company's bottom line. It can boost or kill sales, attract or put off investment and business partners, recruit or deter employees, influence legislators and regulators, and literally touch every audience. Unsurprisingly, in this interconnected age, there's increasing focus on corporate reputation management.

 

Corporate Reputation Manager identifies your company's core equity drivers by providing a 360-degree view of its image from the diverse viewpoints of individual stakeholders such as Wall Street analysts, opinion leaders, community officials, investors, employees, etc. It separates the key characteristics that drive reputational equity from those that add little to corporate strength. It not only provides a candid analysis, comparing the company to its closest competitors, it prescribes actionable management direction. A strong corporate reputation can power a company's success by: providing easier access to capital markets and attracting financial resources­ attracting, motivating and retaining talented employee's ­ facilitating price premiums, up- or cross-selling opportunities and new product launches­ gaining new customers leading to public goodwill and positive references. Corporations are built to run businesses of many different types—but the one thing that they all have in common is their need for a good reputation. Keeping that reputation unblemished is an absolute necessity if they are going to do well, and do better than their competitors. Implementing a plan in order to manage that corporate reputation is up to a number of different people including the president of the company down to the public relations staff, and possibly a few others depending on the corporation's size. By examining existing definitions and data sets, this article explores the current state of efforts intended to measure corporate reputation. Both definitions and data are found to be lacking, and it is argued that many deficiencies in definition and data can be attributed to the fact that theory development related to corporate reputation has been insufficient. A company's corporate reputation is often confused with its product brand. Whilst closely related they are not the same thing. They both refer to a type of "trust". Some companies have well known product brands and differentiated corporate reputations. In other cases the company brand and the corporate brand are much closer.  A strong reputation has a potent effect on achieving business success. Whether you need to grow your business, attract high caliber people or generate fresh investment, the right reputation can be decisive in putting you ahead of the field.

 

 

 

 

Advertisements
Print-Friendly Version Email to a Friend
 
Related to Building Corporate Reputation In Market > Here's a mus...
 
 
 
 
 
 
STATS
 
Total articles: 5597
    Total Categories: 22
    Updated in Last Week: 5
LOGIN
 
   Login Id
   Password
  Forgot Password?
    
   
SEARCH ARTICLE
 
  Enter Keywords
 
CATEGORIES
 
    Banking and Finance
    Campus Articles
    Economy
INVITE FRIENDS
 
Invite your Friends, your Colleagues, your Group Members, your Seniors, your Team mates...and others.
 
 
Advertisements
 
spacer gif
Management Paradise
spacer gif
arrow gif About Us
Press
Jobs
Buy a Book
Kartik Raichura
spacer gif
spacer gif
spacer gif
Legal
spacer gif
spacer gif Terms & Conditions
spacer gif Privacy Policy
spacer gif Disclaimer
spacer gif Copyrights
spacer gif Contact Us
spacer gif
spacer gif
spacer gif
Help
spacer gif
spacer gif Getting Started
Support
FAQs
Tour
Feedback
Partners

MBA B School Blog

MBA Buy Entrance Exam Forms

MBA BMS Blog

MBA MBA Blog

MBA BMM Network

MBA Your Link Here

Follow
       
   

 

Copyright 2004 - 2014 Management Paradise. Site Developed by Available.co.in