Individual Sorporate Social Responsibility (csr) Company Analysis: Reflective Journal

Reflective Entry 1. The Scope of Corporate Reputation

The basic principles of corporate reputation are self-explanatory. Many consumers would accept or reject a product offered to them based on the image they have of the product — unaware that their decision is, in many ways, a comment on the brand’s public reputation. The basic learning from this introductory module is the fact that corporate reputation is an intangible asset. The intangibility of corporate reputation stems from the fact that it relies on goodwill, brand recognition, and business methodologies among other things. The collective assessments of a corporation's past actions; and the ability of the company to deliver improving business results to multiple stockholders over time. For example, many businesses assess corporate reputations using financial soundness, quality of management, products and services, and market competitiveness as the criteria for ranking. For most corporations, their reputation is also dependent on the performance and behaviors of their subsidiaries and external agencies. For instance, the failure of following international labor laws and child labor laws in sweatshops have impacted the brand 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 flip side, the corporate reputation of a brand will impact the relationship it shares with its stakeholders. For example, the dwindling reputation of cola brands due to growing water regulation concerns regarding their bottling process impacted the business of their retailers and distributors. Therefore, following this first module it can be understood that corporate reputation and its scope is wide-ranging for corporations across industries.

Reflective Entry 2. Corporate Culture

This particular module introduced me to the nuances of corporate culture and how it affects the company’s public perception. The key to a successful organization is to have a culture based on a strongly held and widely shared set of beliefs that are 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 proper one, and employees know that they will be rewarded for demonstrating the organization's values. An organization's culture defines the proper 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 employee perceptions, behaviors, and understanding. Organizational culture sets the context for everything an enterprise does. A strong culture is a common denominator among the most successful companies. All have consensus at the top regarding cultural priorities, and those values focus not on individuals but on the organization and its goals. Leaders in successful companies live their cultures every day and go out of their way to communicate their cultural identities to employees as well as prospective new hires. I also learned that employees who share values and aspirations tend to outperform those in environments that lack cohesiveness and common purposes. Performance management programs can greatly affect the corporate culture by clearly outlining what is expected from employees as well as by providing a feedback tool that informs employees about proper behavior in the workspace.

Reflective Entry 3. Measuring Corporate Reputation

The concept of being able to measure the reputation of a corporation was alien to me. Through this module, I understood that while reputation is largely an intangible process, there are ways in which its various aspects can be reasonably quantified — thus, helping corporations to measure their reputation in tangible terms. Corporate reputation is an aggregation of the perception of all stakeholders associated with a firm. This characteristic of reputation forms it highly subjective measure. Corporate reputation is measured as the evaluation of the perception of stakeholders or experts on the basis of certain attributes that enhance reputation. This module introduced me to the concept of reputation quotient. The reputation quotient is dependent on multiple factors that include emotional appeal, quality products and services, good financial performance, vision and leadership, workplace environment, and social responsibility toward society. Reputation is the sum of the perception, assessment, and valuation 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 business and also show how vulnerable a good reputation is. The six corporate reputation drivers are the tools of the communications or branding strategist who wants to improve the company’s reputation. For example, the financial hold of Woolworths on the Australian consumer staples market teamed with their commitment to quality products and services, and their ability to provide a positive space for the consumers walking in have a constructive effect on their image and resultant reputation.

Reflective Entry 4. Corporate Communication

The basic learning from this module is the fact that a robust system of communications is crucial for the success of any corporation. Corporate communication is the practice of developing, cultivating and maintaining a corporate identity or brand image. A solid corporate communications team provides initiatives to mold the company 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 encompasses methods and processes in promoting a company’s credentials, its positioning pitch and its acceptability in the marketplace. It involves a series of planned, interconnected activities and programs to communicate and engage with internal employees and externally with partners, customers, and other stakeholders. Corporate communication is generally acknowledged as the best possible method of building a long-term corporate identity. A well-articulated and consistent corporate communication strategy, along with larger advertising and PR campaigns, reinforces a positive image about your company. This practice has helped businesses, corporations, and even start-ups to develop and sustain unique corporate brand identities. Strategic, timely, and well-orchestrated corporate communication initiatives have helped companies to limit negative fallouts of market missteps, crisis scenarios, or unseemly or controversial utterances by key business executives. For instance, the drastic change in the corporate communication of IBM under Lou Gerstner helped the company turn around their downward spiral in the 1980s and early 1990s. The global technology giant was successful in molding its corporate communication in a manner that changed the game in their favor, giving them an opportunity to realign themselves as a market leader in the increasingly digital society.

Reflective Entry 5. Methods of Corporate Communications

Corporate communications is not a streamlined concept that is dependent on a narrow set of tools and techniques. The module is instrumental in understanding that corporate communication is widespread and includes an array of different methods that work in tandem to provide a holistic view of the brand to the customers. Basically, corporate communications refer to the way in which businesses and organizations communicate with internal and external various audiences. Corporate communications can take many forms depending on the audience that is being addressed. Ultimately, an organization’s communication strategy will typically consist of the written word (such as internal and external reports, advertisements, website copy, promotional materials, email, memos, and press releases), spoken word (including meetings, press conferences, interviews, and video), and non-spoken communication (like photographs, illustrations, info-graphics, and general branding). It includes everything from emailing your employees that the coffee machine’s broken to a press release about the company’s latest product or development. Corporate communication condenses every single way the brand engages with its audiences and plays a huge role in shaping how the brand is perceived by these groups. An important aspect of the business that is often highlighted primarily by using a host of communication tools is CSR. CSR communication has become a vital issue in building and sustaining the legitimacy of a company in the eyes of stakeholders. CSR is a way for companies to pay forward their due to the society that accepts them. Campaigns led by global brands such as Starbucks and Mcdonald's to ditch the use of plastic straws in their outlets are a response to demands from customers for less packaging waste while promoting their brands as reliable participants in society.

Reflective Entry 6. Issues Management, Risk Management, and Crisis Communication

It is not unusual for companies to find themselves in a situation that is not ideal. Such risks are very common and companies are largely prepared to mitigate the various forms of risks that they might encounter as part of their daily operations. For a company that is going through a problem, it is essential that they continue to communicate with their stakeholders to ensure that they are able to maintain a clear stream of information about how the company is dealing with the crisis. This module helped me understand that crisis communication is essential in ensuring that the consumers’ trust is retained in the company despite obvious problems. Crisis communication is a strategic approach to corresponding with people and organizations during a disruptive event. When a crisis occurs, proactive, quick, and detailed communication is critical. Every business should have an emergency communication plan that documents the protocol for distributing information during a time of intense difficulty or danger. Since a business' reputation is at stake when it faces a crisis, it's important to impart information to the public to ease concerns and counter false information. An outside public relations firm can help an organization interact with the media. A crisis communication plan is a comprehensive process that includes details about audiences, contact information, and the type of messaging. It is important to have a variety of tools and resources during a disruptive event. A successful example of crisis communication was in 2014 when a Virgin Galactic test flight crashed. The Spaceship Two space tourism craft crashed while flying over the Mojave Desert in California. One pilot died from the crash, while the other was injured. The Virgin Group began with sharing details of the crash and showing genuine concern for the pilots and their families. Richard Branson, the founder of the Virgin Group, tweeted numerous times with updates and personal remarks. Branson immediately flew out to Los Angeles to be at the scene of the incident and take ownership for the unfortunate situation. The proactive steps resonated with the public.

Reflective Entry 7. Symbols, Tools, and the Media

The module is instrumental in understanding that only communicating is not particularly enough. It is also important for corporations to understand the various forms in which they can frame the message to ensure that it has the desired impact on the receiver; which may include their customers, employees, and other stakeholders. A frame is a lens through which people would interpret the information they receive. In terms of improving business communication, framing a message is about positioning it in a manner that both the intention and the content are interpreted as they were meant. When corporations frame a message, their intention of how the information is likely to be received by others should inform their choice of framing strategies. Framing would include thinking of the reasons that can be provided to justify the time and attention the company wants the audience to give to the message; and determining how the content affects the audience and how it compares with what the audience already knows, believes, and values. The most beneficial aspect of framing is to influence 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 aced by Dove. The global brand has been running a campaign for over a decade that positions the brand as an undying ambassador of ‘real beauty’. The campaign has been central to the brand’s identity and played the role of being the foundation of every other campaign. The framing of the promotional message has helped in the brand associate itself with the emotional appeal that is inherent to the idea of natural beauty.

Reflective Entry 8. The Future of Brands and Brand Communications

With a rapidly changing world order, innovation will be key in reinventing communication channels. The final module emphasizes on the importance of innovation to ensure that the companies are communicating in the most effective manner possible. The Global Corona Crisis has made innovation vital. A very important outcome thus far from this horrible pandemic is just how critical employee behavior, trust and engagement are not only to organizations and business but to society in general. Maintaining a level of confidence in the workforce is essential to productivity, innovation, and balance. The strategic mechanism designed to influence and drive operational success has been internal communications. The pandemic is leading executives to realize that companies cannot grow, prosper, or even survive without a knowledgeable, engaged, and aware workforce. Internal communications are evolving to a new level, where the focus on is accelerating decision-making, challenging people’s knowledge, and providing information that leaders, managers, and employees utilize to frame arguments, illustrate situations, make decisions, and launch initiatives. Working in a virtual environment is opening up avenues of innovation, ideation, and more interesting managerial techniques. However, the change is also causing anxiety, fear, and loneliness. In this unprecedented time, internal communications systems, methods, content, cadence, feedback, tone, and frequency can make a difference. A management model focused on improving organizational effectiveness must bring together the right mix of communication techniques to ease leadership and team-building to create openness and exchange that is fostered by the right technologies and the right skill sets.

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