Prof. Maureen Cross
MBA – Tuesday
This story although tragic, shows how not all companies are full of greed, and how some companies have a strong moral compass. Let’s discuss the importance of reputation, corporate brand, image reputation and business ethics. Poor reputations and images can bankrupt a company. Let’s discuss some key terms. IDENTITY - “CONSISTS OF A COMPANY’S DEFINING ATTRIBUTES SUCH AS PEOPLE ,PRODUCTS AND SERVICES” Question it answers ----------Who are you
CORPORATE BRAND- “CONVEYS EXPECTATIONS OF WHAT A COMPANY WILL DELIVER IN TERMS OF PRODUCTS, SERVICES AND CUSTOMER EXPERIENCE” Question it answers- Who do you say you are and want to be?
IMAGE- “A reflection of an organization’s identity and its corporate brand” Question it answers----------“What do constituencies think of who you are and who you tell them you are?” Reputation- “ The collective representation of multiple constituencies’ images of a company built up over time and based on a company’s identity programs its performance and how constituencies have perceived its behavior” Question it answers-----------What do all constituencies think of when you tell them you are and what you have done?” Entities like Enron, Arthur Anderson, Bernie Madoff, The Banks and Wall Street have all committed unethical acts and have caused consumers to have bad tastes in their mouths. Companies spend millions of dollars in advertising to keep a brand/image in front of the consumer. A thirty second spot for this year’s Super bowl cost four million. Companies spend millions to market their products what would they spend to keep their reputation unblemished?
The tragic incident happened in Chicago during the morning of September 29,1982 when twelve year old Mary Kellerman of Elk Grove Village, Illinois, woke up not feeling well, and complained to her parents of having a sore throat and a runny nose....
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