Posts Tagged ‘Image’
The Importance of Corporate Image
The success of business in the contemporary world depends upon many inter related aspects or reasons. A serious business man always wants to get the required status in his sphere of activity or field of action. This brings a huge amount of respect from the fellow competitors and the person enjoys more reputation among the people of his business class. One of such reasons or aspects of a successful business relationship is to have and maintain a high corporate image.
While making a survey in 1989 in Great Britain, the Market Opinion Research International interrogated a large number of businessmen as if what was the most important aspect of making an international repute in the field of marketing and business. It was found that more than 75 per cent were of the view that the corporate image or identity plays a very significant role in the field of making an international repute. An year later, another research made in the same direction by CBI and Fitch Consultant, said that the views on the previous survey were materialized to a great extent.
The dominant reason behind this change is quite understandable. Today we are living in a age which is very much dominated by those people who do not lose any chance to supersede any other company or individual. Today most of the leading companies and professionals are trying to find out a better place of working where they could get less number of work opportunities. They make more skilled business strategies not only to make a healthy competition among the companies but also to survive on the internet. As a result of this cut throat competition, the incidents like mergers, acquisitions etc take place. These terms are very much known to every component of the business world.
The reasons of these fast and rapid changes in the status of the companies are also very common and natural. These reasons are based upon very real life situation that are derived and dominated by fast growth of certain companies in their status and position. These reasons reaffirm the role and significance of evolution in every part of human life. For example, people in the beginning were accustomed with radio from more than anything else. Sooner or later, the radios become outdated and were replaced by televisions. This is not complete as even later, the common televisions have been replaced with computers as they are more dynamic in their nature and applications. It is expected that the computers are also likely to get outdated in a year or two after the evolution of even higher kind of device. But even in this tough competition, the companies like Sony Corporation and Casio are still enjoying their high reputation or corporate image as ever before.
The ability and chances for a global exposure have played a vital role in determining or obtaining a corporate image. For example you can consider the name of the American Express Company which was originally a freight company in the North American market. Due to its sudden and well-planned marketing strategies, it ventured into the world of credit card, banking and global traveling; it expanded its approach to the whole world and took the advantage of globalization. The other very good examples of this globalization are IBM, McDonald and Kentucky Fried Chicken (KFC). You can find these companies all over the world and are very good examples of companies that have acquired a corporate image working under very good and effective strategies.
The growing expectation of society of better and diversified service has been another factor that increases the trend of corporate identity. This expectation also raises the responsibility of the operating companies which helps them to acquire the required status of corporate image. As a result of these expectations, the companies take certain measures and strategies which are very much essential for the companies to have a corporate image.
Factors of Corporate Image
As discussed above, the corporate image is determined by certain factors, such as corporate policy, corporate culture, operations and design of the organization. The strategy part of the companies is the vital one as it helps the companies to take measures of their plans and programs. The policies of a company determine the way of action of the company and help the company to compete in the market. The company is fully free to take any decision to make its products and services easy and affordable to every consumer.
Corporate cultures are the values or norms that the company takes up while serving the consumers with their products and services. This aspect of the corporate image is very much essential for the companies to maintain a high and world class service to it customers. Their chief motto is the satisfaction of the customers from whom they derive their main income including their profit and fame of a corporate organization.
The organizational design refers to the structure of the company from its management level to its working class level. It also ensures and encompasses the inter-personal relationship among the members of the staff of the company from the top level to the bottom level. It includes the various departments of the company which offer their services to the customers in and united manner. Various entities of the corporate organization work to the highest level of their abilities to maintain a very good and satisfactory status among its customers.
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