Reflective Entry 1. The Scope of Corporate Reputation Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay The basic principles of business reputation are self-explanatory. Many consumers would accept or reject a product offered to them based on their image of the product, unaware that their decision is, in many ways, a comment on the public reputation of the brand. The key learning from this introductory module is that corporate reputation is an intangible asset. The intangibility of corporate reputation comes from the fact that it is based on, among other things, goodwill, brand recognition and business methodologies. The collective evaluations of a company's past actions; and the company's ability to deliver improved business results to multiple shareholders over time. For example, many companies evaluate corporate reputation using financial strength, quality of management, products and services, and market competitiveness as criteria for positioning. For most companies, reputation also depends on the performance and behaviors of subsidiaries and external agencies. For example, failure to comply with international labor laws and child labor laws in sweatshops has affected the reputation of many international luxury fashion brands such as Marks and Spencer's, Next, Ralph Lauren, DKNY, GAP, Converse, Banana Republic , Land's End, and Levi's. On the other hand, a brand's corporate reputation will impact the relationship it shares with its stakeholders. For example, the declining reputation of cola brands due to growing water regulation concerns regarding the bottling process has impacted the business of their retailers and distributors. Therefore, by following this first module you can understand that corporate reputation and its scope are far-reaching for companies in all industries. Reflective Voice 2. Corporate Culture This particular module introduced me to the nuances of corporate culture and how it influences the public perception of the company. The key to a successful organization is to have a culture based on a strongly held and widely shared set of beliefs, supported by strategy and structure. When an organization has a strong culture, three things happen: employees know how top management wants them to respond to any situation, employees believe that the expected response is the correct one, and employees know they will be rewarded for demonstrating the company's values. organization. The culture of an organization defines the correct way to behave within the organization. This culture consists of shared beliefs and values ​​established by leaders and then communicated and reinforced through various methods, ultimately shaping employees' perceptions, behaviors and understanding. Organizational culture sets the context for everything a company does. A strong culture is a common denominator among the most successful companies. Everyone has a consensus at the top about cultural priorities, and these values ​​focus not on individuals but on the organization and its goals. Leaders of successful companies live their culture every day and go to great lengths to communicate their cultural identity to employees and potential new hires. I also learned that employees who share values ​​and aspirations tend to outperform those in environments that lack cohesion and common purpose. Performance management programs can greatly influence company cultureclearly outlining what is expected of employees and providing a feedback tool that informs employees about appropriate behavior in the workspace. Reflective Voice 3. Measuring Corporate Reputation The concept of being able to measure a company's reputation was foreign to me. Through this module, I understood that although reputation is largely an intangible process, there are ways in which its various aspects can be reasonably quantified, thus helping companies measure their reputation in tangible terms. Corporate reputation is the aggregation of the perception of all stakeholders associated with a company. This characteristic of reputation makes it a highly subjective measure. Corporate reputation is measured as the assessment of stakeholders' or experts' perceptions based on certain reputation-enhancing attributes. This module introduced me to the concept of reputation quotient. Reputation quotient depends on multiple factors which include emotional appeal, quality products and services, good financial performance, vision and leadership, work environment and social responsibility towards society. Reputation is the sum of the perception, evaluation and evaluation of a company by all external stakeholders such as customers, investors, analysts, business partners, journalists, civil society organizations, government, businesses and the public. The six criteria show how stakeholders evaluate the company and also show how vulnerable a good reputation is. The six drivers of corporate reputation are the tools of the communications or branding strategist who wants to improve the company's reputation. For example, Woolworths' financial hold on the Australian consumer staples market, combined with their commitment to quality products and services, and their ability to provide a positive space for incoming consumers has a constructive effect on their image and on the resulting reputation. 4. Business Communication The key learning from this module is the fact that a solid communication system is crucial to the success of any business. Corporate communication is the practice of developing, cultivating and maintaining a corporate identity or brand image. A strong corporate communications team provides initiatives to shape the corporate image, communicate with internal and external audiences, and sustain a long-term positive reputation. Through public relations and widespread corporate communications, customers, employees and clients can share in your company's successes. Corporate communication includes methods and processes aimed at promoting a company's credentials, its positioning and its acceptability in the market. It involves a series of planned and interconnected activities and programs to communicate and interact with employees internally and externally with partners, customers and other stakeholders. Corporate communication is generally recognized as the best possible method for building a long-term corporate identity. A well-articulated and coherent corporate communications strategy, together with broader advertising and PR campaigns, reinforces a positive image of your company. This practice has helped businesses, corporations, and even startups develop and sustain unique corporate branding identities. Strategic, timely, and well-orchestrated corporate communications initiatives have helped companies limit the negative fallout from market missteps, crisis scenarios, or inappropriate or controversial utterances from key company executives. For example, IBM's dramatic change in corporate communications under Lou Gerstner helped the company reverse its downward spiralin the 80s and early 90s. The global tech giant has managed to shape their corporate communications in a way that has changed the rules of the game in their favor, giving them the opportunity to realign themselves as market leaders in an increasingly digital society. Reflective Voice 5. Business Communication Methods Business communication is not a simplified concept that depends on a narrow set of tools and techniques. The module is instrumental in understanding that corporate communication is widespread and includes a number of different methods that work in tandem to provide customers with a holistic view of the brand. Basically corporate communications refers to how companies and organizations communicate with various internal and external audiences. Corporate communication can take many forms depending on the audience it is aimed at. Ultimately, an organization's communications strategy will typically consist of written words (such as internal and external reports, advertisements, website copy, promotional materials, emails, memos and press releases), spoken words (including meetings, conferences print, interviews and videos) and non-spoken communication (such as photographs, illustrations, infographics and general branding). It includes everything from sending an email to employees that their coffee maker is broken to a press release about the company's latest product or development. Corporate communication condenses every single way the brand interacts with its audience and plays a huge role in shaping how the brand is perceived by these groups. An important aspect of business that is often highlighted primarily using a variety of communication tools is CSR. CSR communication has become a vital issue for building and sustaining a company's legitimacy in the eyes of stakeholders. CSR is a way for companies to repay what they owe to the society that accepts them. Campaigns led by global brands such as Starbucks and McDonald's to eliminate the use of plastic straws in their outlets are a response to customer demand to reduce packaging waste, while promoting their brands as trusted participants in society. Reflective voice 6. Problem management, risk management and crisis communicationIt is not uncommon for companies to find themselves in a less than ideal situation. Such risks are very common, and companies are well prepared to mitigate the various forms of risk they may encounter as part of their daily operations. For a company experiencing a crisis, it is essential that it continues to communicate with its stakeholders to ensure that they are able to maintain a clear flow of information on how the company is dealing with the crisis. This module helped me understand that crisis communications is essential to ensure that consumer trust is maintained in the company despite obvious problems. Crisis communication is a strategic approach to communicating with people and organizations during a disruptive event. When a crisis occurs, proactive, rapid and detailed communication is key. Every company should have an emergency communications plan that documents the protocol for distributing information during a time of intense distress or danger. Because a company's reputation is at stake when facing a crisis, it is important to disseminate information to the public to ease concerns and counter false information. An outside public relations firm can help an organization engage with the media. A crisis communications plan is a comprehensive process that includes details about your audience, contact information, and type ofmessage. It is important to have a variety of tools and resources during a disruptive event. A successful example of crisis communication occurred in 2014, when a Virgin Galactic test flight crashed. The spaceship Two space tourism ships crashed while flying over the Mojave Desert in California. One pilot died in the crash, while the other was injured. The Virgin Group began by sharing details of the accident and showing genuine concern for the pilots and their families. Richard Branson, the founder of Virgin Group, has tweeted numerous times with personal updates and comments. Branson immediately flew to Los Angeles to go to the scene of the accident and take responsibility for the unfortunate situation. The proactive steps resonated with the public. Reflective voice 7. Symbols, tools and media The module is crucial to understanding that just communicating is not particularly sufficient. It is also important that companies understand the various forms in which they can frame the business message to ensure it has the desired impact on the recipient; which may include their customers, employees and other stakeholders. A frame is a lens through which people interpret the information they receive. In terms of improving business communication, framing a message means positioning it in such a way that both the intention and the content are interpreted as they were intended. When companies frame a message, their intention about how the information is likely to be received by others should influence their choice of framing strategies. Framing would include thinking about the reasons that can be given to justify the time and attention the company wants the audience to give to the message; and determine how the content impacts the audience and how it compares to what the audience already knows, believes, and values. The most beneficial aspect of framing is influencing the emotional response of listeners. One way to do this is to learn and appeal to the values ​​of the average audience member. The use of message framing techniques has been adopted by Dove. The global brand has been running a campaign that positions the brand as an undying ambassador of “true beauty” for over a decade. The campaign was central to the brand's identity and served as the foundation of every other campaign. The framing of the promotional message helped the brand associate with the emotional appeal inherent to the idea of ​​natural beauty. Thoughtful Voice 8. The Future of Brands and Brand Communications With a rapidly evolving world order, innovation will be key to reinventing communication channels. The final module highlights the importance of innovation to ensure that companies communicate as effectively as possible. The global coronavirus crisis has made innovation vital. A very important outcome so far of this horrible pandemic is how critical employee behavior, trust and engagement are not only for organizations and businesses but for society at large. Maintaining a level of trust in your workforce is essential for productivity, innovation and balance. The strategic mechanism designed to influence and drive operational success was internal communication. The pandemic is making executives realize that businesses cannot grow, thrive, or even survive without a skilled, engaged, and knowledgeable workforce. Internal communications are evolving to a new level, where the focus is on accelerating decision making, challenging people to understand, and providing information that leaders, managers, and employees use, 16 (2),.