CORPORATE IMAGE BUILDING IMPORTANT QUESTIONS

Q1. What are the components of Corporate image?

Ans. According to Philip Kotler, “ Image is the set of beliefs, ideas and impression, a
person holds regarding an object. This is also applicable to business”. therefore,
corporate image is a set of beliefs, ideas and impression a person i.e., customer,
shareholder, and employees holds regarding an organization. Corporate Image is
how people perceive or think about a corporate, its products or services. A positive
corporate image can enhance a company's reputation, build trust, and attract
customers and investors.

Components:
i. Quality of Products/Services: The quality of products or services offered by a
company significantly impacts its corporate image.
ii. Customer Service: How a company interacts with its customers and handles
their concerns can influence its corporate image.
iii. Corporate Social Responsibility (CSR): The company's commitment to ethical
practices, sustainability, and social causes can shape its corporate image.
iv. Public Relations: The way a company manages its relationships with the media
and the public can affect its corporate image.
v. Brand Reputation: The overall perception of the company's brand in the market
plays a crucial role in shaping its corporate image.
vi. Employee Relations: How the company treats and engages its employees can
impact its corporate image.
vii. Financial Performance: The financial stability and performance of a company
can influence its corporate image.
viii. Crisis Management: How a company handles crises and challenges can have a
lasting impact on its corporate image.

Q2. Difference between corporate image and corporate reputation.

Ans. Corporate Image of a company can be defined as an image that people hold in
their mind about the company, its products, and its services. The corporate image of
a company is the product of a company's performance, media coverage, and its
activities. It is shaped by the company's branding, advertising, and overall visual
identity. Corporate image is often focused on the external appearance and how the
company presents itself to the public.

Corporate Reputation on the other hand, refers to the observer’s collective

judgement of a corporation based on assessment of financial, social and
environmental impacts attributed to the corporation over time. Good reputation will
cause both customers and vendors to be more trusting and loyal to the business.
Corporate reputation touches on the amount of trust and respect the company has
earned from the general public and other companies. Corporate reputation is more
about the company's character and how it is perceived by others based on its actions
and conduct.
In summary, corporate image is about the external visual representation and
branding of a company, while corporate reputation is about the overall perception
and esteem of the company based on its behavior and performance.

Q3. Factors affecting corporate reputation.

i. Firm Size: Firm size is directly related to the firm’s reputation, as larger firms
enjoy greater name recognition than smaller firms.
ii. Customer Satisfaction: Monitoring customer feedback and satisfaction levels
through surveys, reviews, and ratings can provide insights into the company's
reputation.
iii. Brand Recognition: Tracking brand awareness and perception in the market can
indicate the strength of company’s reputation.
iv. Media Coverage: Analyzing media mentions, both positive and negative, can
help gauge public perception and sentiment towards the company.
v. Employee Satisfaction: Assessing employee morale and satisfaction can
indirectly reflect on the company's reputation, as happy employees often
contribute to a positive work environment and customer experience.
vi. Corporate Social Responsibility (CSR) Initiatives: The company’s commitment to
ethical practices, sustainability, and social causes can shape its corporate
reputation.
vii. Financial Performance: strong financial performance can contribute to a
positive reputation in the eyes of investors, stakeholders, and the public.
viii. Industry Rankings and Awards: Recognition from industry peers and prestigious
awards can enhance company’s reputation and credibility.
ix. Crisis Management: Assessing how the company handles crises and challenges
can impact its reputation.

Q5. Vision Culture Image Alignment Model (VCI Model).

Ans. The growing recognition of the importance of corporate branding at brand
positioning is typically based on the alignment between:
i. The strategic goals of the top management level (shared vision)
ii. The knowledge and attitude of the employees (corporate culture)
iii. The perception of external stakeholders (image)

In other words, Hatch and Schultz claim that the strategic goals need to be
supported by and fit with the corporate culture and must fit with the perceptions of
key stakeholders to build and maintain a strong corporate brand.
The key for a strong corporate brand are closed or small gaps between vision,
culture and image. The relation between strategic vision, corporate culture, and
image are key problem areas for corporate branding e.g. relations must be
monitored and maintained for effective corporate branding . Core values are the
guiding themes for personality, positioning of brands present in the strategy and the
corporate culture. The VCI method is focused on alignment between every
organizational aspect to core values in order to establish strong corporate brands.
Q6. Explain SERVQUAL Model.
Ans. The SERVQUAL model is a widely used framework for assessing and improving
service quality. It helps organizations understand and improve the quality of their
services by identifying gaps between customer expectations and perceptions. By
identifying these gaps, organizations can pinpoint areas for improvement and
develop strategies to enhance service quality. The model consists of five key
components:
i. Tangibles: These are the physical aspects of the service, such as facilities,
equipment, and appearance. Tangibles can influence customers' perceptions of
service quality.
ii. Reliability: Reliability refers to the ability to deliver services accurately and
dependably. It includes factors like consistency, timeliness, and the ability to
keep promises.
iii. Responsiveness: Responsiveness measures the willingness and promptness of
service providers to help customers and provide assistance. It involves factors
like attentiveness, willingness to listen, and responsiveness to customer needs.
iv. Assurance: Assurance relates to the knowledge, competence, and courtesy of
service providers. It includes factors like trustworthiness, credibility, and the
ability to instill confidence in customers.
v. Empathy: Empathy refers to the caring and individualized attention given to
customers. It involves factors like understanding customer needs, personalized
service, and treating customers with respect and empathy.

Q7. Stages of corporate image growth/Stages of branding process.

Q8. Greiner’s growth stage Model

Ans. One of the models to describe business growth life cycles is the Greiner Model.
The five stages in the life cycle of a business venture are depicted in Figure. Greiner
proposed that business growth can be examined through the dimensions of size and
age of the business.
The first phase, is growth through creativity. This starts at the beginning, when the
business starts to develop through the efforts of the founder. In the early phase, the
business operation and structure is relatively informal. The size of the business is
small, with a minimal numbers of workers. The founders (entrepreneurs) work out
the venture with a high entrepreneurial spirit and focus on producing new products
and services for the market. As the business expands, the venture begins to
encounter problems, such as production inefficiencies, managing an increasing
number of workers and finding additional resources to fulfil the needs of the
expanding business. At this stage, the business faces a leadership crisis as the
current leadership becomes incapable and unable to continue developing the
business venture. The businesses that manage to overcome the leadership crisis will
merge into the growth through direction phase.

The second phase, is growth through direction. The business ventures are more
structured and formalized, as specialization of functional units, standard procedures
and organized systems are adopted. Again, as the business grows, another crisis
emerges: the autonomy crisis. The entrepreneurs face challenges in coordinating
diverse units and activities due to the expanding scope and structure of the
organization. The crisis needs to be resolved through the delegation of authority.

The third phase, is growth through delegation. The functional units are
decentralized and each unit is able to perform its tasks efficiently and effectively. To
a certain extent, the situation continues into another growth crisis known as the
control crisis. This crisis can only be managed by effective coordination to realign the
various activities of the entire units.

The fourth phase is known as growth through coordination, which leads to a growth
crisis known as the red-tape crisis. The red-tape crisis emerged due to the
implementation of various coordination tools that eventually distort the business
efficiencies.

The fifth phase is growth through collaboration. The final crisis in the Greiner model
is the growth crisis. At this point, the business have reached their maximum internal
growth capacity. In order to grow bigger, the venture needs another strategy, which
may involve finding a new market, new industries or business. Nevertheless, the
businesses are restricted by scarce resources and a lack of capital, knowledge and
technology. Thus, the next growth phase must be realized through alliances that
involve the acquisition of new elements from outside to enrich growth capabilities.

Q9. Techniques of Employee branding.

Ans. Employer branding can be defined as creating the image of the organization as a
‘great place to work’ in the minds of current employees and key stakeholders in the
external market (active and passive candidates, clients, customers and other key
stakeholders).
Employee branding is an internal and external marketing strategy that encourages
employees to develop positive attitudes about their company, empowering them to
be more effective brand ambassadors. The goal is to get every employee excited
about being part of your organization.

Techniques of employee branding

i. Define the company culture: This includes defining your company values,
mission and vision statements, and overall workplace culture. Also identify your
company’s core values for example, “We foster innovation” or “We thrive in a
collaborative environment.”
ii. Well Being: Being at work is stressful for almost everyone. Organizations need
to look into how they can place more value on both physical and mental health
of employees.
iii. Additional Perks and Benefits: The millennial generation is demanding an all-
inclusive workplace, as they spend more and more time at office. In such a
scenario, day care for their children, schools and universities, family events, paid
time off can be a part of their compensation structure.
iv. Culture of Fairness and Diversity: Develop a culture of fairness, justice and
equality while simultaneously ensuring that your workplace is as diverse as
possible.
v. Women Empowerment: The best workplaces in the world have more than 25%
women in executive management positions. Plus, these companies take
initiatives to ensure their safety, teach them self defense, grow them as leaders
and help them pursue alternative career options.
vi. Connecting to campus: Companies these days are launching various programs
to connect to campuses. By this way, companies also enhance the pool for right
talent.

Q10. Building Image by Branding HR Practices

i. Developing a strong employer value proposition (EVP) that highlights the
company's unique culture, values, and benefits for employees.
ii. Creating engaging content such as videos, blog posts, and social media posts
that showcase the company's culture and work environment.
iii. Participating in industry events and conferences to promote the company's
brand and network with potential candidates.
iv. Developing an employee referral program that encourages current employees to
refer their contacts to job openings within the company.
v. Building partnerships with educational institutions and other organizations to
attract top talent and promote the company's brand as an employer of choice.

Q11. What is corporate citizenship/CSR?

Ans. Corporate social responsibility (CSR) is a gesture of showing the company’s
concern & commitment towards society’s sustainability & development. CSR is the
ethical behaviour of a company towards society. It can also be defined as:
“The continuing commitment by business to behave ethically and contribute to
sustainable economic development while improving the quality of life of the work
force and their families as well as of the local community and society.”
CSR addresses various issues like human rights, education, health, and safety.

Benefits of CSR:
1. Improves Brand Value: Being socially responsible brings recognition into the
company. It shows that your company is more than just profits.
2. Builds Customer Loyalty: Your customers want to feel that they are a part of
something. Even if not directly, they feel good to be part of a company with a vision
and the willingness to do good.
3. Engages Millennials: “7 in 10 young adults consider themselves social
activists.”Everyone wants to feel they are part of a bigger cause that helps shape
lives. They want employers who match their ideals and are doing something to help
those in need.
4. Attract and Retain Talent: When employees feel they are part of an organization
that is more than just about profits, they’ll definitely want to stick around. To help
them achieve this, a lot of companies are now providing their employees with the
benefit of taking time off to volunteer in their organizations of choice.
5. Increases employee Engagement: CSR requires employee assistance. Right from
designing and developing the CSR program to actually volunteering for a cause.So,
when you include your employees in such important events, they feel valued and
appreciated.

Q12. Impact of ethics in organizational branding.

Ans. Ethics in corporate branding refers to the process of creating and promoting a
positive image and reputation for a company based on its ethical practices and
values. It involves aligning the company's brand identity with its ethical principles
and communicating this to its target audience.

Role of Ethics in Branding:

i. Ethics establishes credibility and trust. When companies demonstrate ethical
behavior, such as being transparent, honest, and socially responsible, they
create a positive perception among consumers. This perception builds trust and
loyalty, leading to a strong brand image.
ii. It also helps companies differentiate themselves in the market. In today's
socially conscious environment, consumers are increasingly concerned about
the ethical practices of the brands they support. By showcasing their
 commitment to ethical values, companies can attract and retain customers who
align with their principles. This differentiation can give them a competitive
advantage and contribute to a positive brand image.
iii. It can lead to positive word-of-mouth and brand advocacy. When consumers
perceive a brand as ethical, they are more likely to recommend it to others. This
positive word-of-mouth can significantly impact a brand's reputation and image,
leading to increased customer acquisition and retention.
iv. Ethical marketing contributes to long-term sustainability. By considering the
environmental, social, and economic impacts of their actions, companies can
build a sustainable business model. This not only benefits society and the
environment but also enhances the brand's image as a responsible and forward-
thinking organization.