Identity, Image, and Reputation
Should a corporation or business be concerned about its identity, image or even reputation if it has a viable product or service? It does if the corporation wants to get its product out to the masses. Although one may think that having a great product would be enough for recognition; unfortunately that is not the case in today’s society. With an abundance of similar businesses each corporation is in competition with each other (whether directly or indirectly) in establishing their own identity and image. This may be the only difference in distinguishing one corporation from another.
Importance of Identity
Have you noticed that, wherever you look, a big-name corporate logo always looks exactly the same? There is no variation in colors, proportion, and spacing above and below it. This is because that company has taken the time to create a handbook of allowable usage of that logo or logotype: it is extremely important aspect of corporate policy that is strictly enforced.
For example GE Identity Program is detailed in a lengthy guidebook of what is an acceptable logo design:
www.scribd.com/doc/7779767/GE-Identity-Program-Standards-and-Guidelines
Even colleges have a distinct guideline that is followed in presenting the schools image.
One of the key ways a corporation establishes itself as part of the market is by making itself easily identifiable. Consumers react very well to seeing the same image over and over again, and consumers remember consistent presentations. If a corporation presents an inconsistent image, people generally focus on the inconsistencies or, even worse associate the inconsistency with the company.
Importance of Image
Image is a reflection of an organization. While this may be considered the foundation of a corporation it does not happen over night. Although it takes time for a company to develop its image, an inconsistency image can damage a company.
If an image problem is left unaddressed, a company might find many of its costs of doing business rising dramatically, including the costs of product development, sales support, employee wages, and shareholder dividends. In addition, since the majority of consumers’ base their purchase decisions at least partly on trust, current and future sales levels are likely to suffer as well.
In businesses of all sizes, it is vital that managers recognize the importance of creating and maintaining a strong image, and that they also make employees aware of it. Corporate image begins within the offices of a company's managers. It should be based on the development of good company policies, rather than on controlling the damage caused by bad company policies.
Several factors have contributed to the increasing importance of corporate image in recent years. Recently, the business climate in the United States has moved towards one of environmental complexity and change. This move has forced many businesses to significantly alter their strategies in order to compete and survive.
Importance of Reputation
Reputation is 'the result of what you do, what you say, and what other people say about you'.
Reputation is the opinion of the public towards an organization or corporation. Reputation, as distinct from image, is the process and the effect of perceived image.
While image only moves from an individual cognition to another, the anonymous character of reputation makes it a more complex phenomenon. Reputation proceeds from the level of individual cognition to the level of social propagation and from this level back to individual cognition again.
A good reputation enhances profitability because it attracts customers to products, investors to securities and employees to its jobs. Company’s reputation is an asset and wealth that gives that company a competitive advantage because this kind of a company will be regarded as a reliable, credible, trustworthy and responsible for employees, customers, shareholders and financial markets.
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Identity, image, and reputation; these are the three components that represent a company. If a company has one of these components tainted this could be very cost effective to their corporation.
ReplyDeleteA corporation must have an identity that consumers feel is respectable. Consumers want the corporation to be honest, have a good product, eye caching logo, and it must be different. Consumers do not want there to be a duplicate, this identity must be unique and consistent.
Image is important for the simple fact that the image represents the organization. If the organization has a negative, inconsistent, or unwanted image consumers will shy away from the company. An image of a corporation is just like one of an individual. If the image or character of an individual is not a welcoming one it may damage friendships in relation to an individual and revenue in the business world.
Reputation is what attracts people to the organization. This is what the world/ public are saying about you. If things in the organization are running smoothly and progress and revenue is being made this is what builds the popularity level. In the business world this is social promotion. As stated, a good reputation enhances profitability because it attracts customers to the product, investors to securities, and employees to the job.
These three components are what make a break an organization. So in order to keep a company running smoothly these three characteristics must be taken care of to the best of the organizations ability.