Managing Corporate Reputation Assignment

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MANAGING CORPORATEREPUTATION
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 EVALUATION OF THE CONCEPT OF CORPORATE IDENTITY AND ITSRELATIONSHIP TO CORPORATE REPUTATION....................................................................11.1.1 Introduction to Corporate Reputation...........................................................................11.1.2 Importance of Managing Corporate Reputation............................................................21.1.3 Corporate Identity..........................................................................................................21.1.4 Relationship between Identity, Image and Corporate Reputation.................................21.2 CRITICAL ANALYSIS OF CORPORATE STRATEGY AT NTB, STRUCTURE,CULTURE & SYSTEMS AT NTB................................................................................................4System....................................................................................................................................5Culture on NTB.....................................................................................................................61.3 CORPORATE IDENTITY STRATEGY TO STRENGTHEN REPUTATION......................7Communication strategy to strategy key stakeholders...........................................................7Proposed changes to structure................................................................................................8Proposed changes to Culture................................................................................................10Financial and political consequences...................................................................................10TASK 2..........................................................................................................................................112.1 EMPLOYEES RELATION....................................................................................................11Two considerable aspects of employee engagement............................................................112.2 EMPLOYEE RELATION STRATEGY OF NTB.................................................................11Communication....................................................................................................................11Behaviour.............................................................................................................................122.3 EMPLOYEE ENGAGEMENT STRATEGY..........................................................................12Importance of employee management..................................................................................12Strategic Recommendation...................................................................................................13Financial and political consequences...................................................................................15TASK 3..........................................................................................................................................153.1 Discussion of critical role of employee communications...............................................15
Importance of maintaining employee relations & evaluation of employee communications.163.2 Critical assessing approach to internal communications................................................173.3 Recommendation of an employee communication strategy to strengthen corporatereputation..............................................................................................................................18CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................20APPENDIX A................................................................................................................................231.Company background........................................................................................................232. Financial performance......................................................................................................243. Competitor Analysis.........................................................................................................265. Comparison of customer and services portfolio 2016......................................................276. Awards and achievement..................................................................................................29APPENDIX B................................................................................................................................30Analysis of Nation trust bank corporate identity..................................................................30Communication Mix of Nation trust bank............................................................................30Corporate behaviour.............................................................................................................31Stakeholder attribute.............................................................................................................33Different dimensions of corporate identity...........................................................................33Analysis of NTB Corporate Culture.....................................................................................34Cultural web.........................................................................................................................34Analysis of NTB Structure...................................................................................................35Stakeholder Audit.................................................................................................................35Communication Mix............................................................................................................38Internal Communication.......................................................................................................39
INTRODUCTIONManaging corporate reputation is the key function and responsibility of organisationwhere the focus of firm is conducting smooth flow of business operations in order to maintaineffectiveness in Goodwill. In accordance with corporate reputation, it can be said that majorinfluence on business is of culture, character and identity. These are the core characteristicswhich reflect effectiveness of services in accordance to dynamic market trends. The report willoutline reputation of Nations Trust Bank Plc. which is an overseas trust bank and is among thefastest growth firm as per agility and responsive model.However, to develop critical understanding over reputation of NTB bank, the focus ofstudy is on critically analysing and comparing its aspects with regard to changing business andbusiness environment. Further, to develop understanding over all the aspects of reputation, thereport is focused on analysing employee’s engagement and importance of communication withstakeholders for successful management of corporate reputation.TASK 11.1 EVALUATION OF THE CONCEPT OF CORPORATE IDENTITY ANDITS RELATIONSHIP TO CORPORATE REPUTATION1.1.1 Introduction to Corporate ReputationAccording to Bear, Rahman and Post, (2010), corporate reputation is the concept which isbased on collective judgements of an enterprise. It is the key element which is related to good \will and market position of firm.The corporate reputation of firm is based on three key elementsthat is culture, identity and character of an organisation. In accordance with corporate reputation,culture is the collection of values,beliefs and practices of organisation which act as base ofbusiness functioning. The positive culture helps in maintaining effectiveness in workproductivity. However, a per the views of Walker, (2010), shared values and beliefs of firm arethe core practices which help company in gaining advantage over competitive goals andobjectives.Apart from this, as per Lai, Chiu and Pai, (2010), it has been analysed that corporatereputation represents effectiveness in employee and employer relation in an organisation whichis based on six elements, that is, capturing of data, ethical working, board committee and agenda,broader interactions and gathering insights of business process.1
Further, according to Helm, Eggert and Garnefeld, (2010), it has been discussed that inorder to maintain effectiveness of corporate identity in context to reputation, it is necessary for afirm to focus on shaping opinions and working values of internal environment which will assistin managing productive in business operations.It is rooted with organisational beliefs, structure,strategies, investors and labours. In this, the focus of firm is on satisfaction to stakeholders inorder to manage effectiveness of corporate goodwill of an enterprise.Thus, it can be outlinedthat corporate reputation of firm is concerned with integrity, ethicality, reliability andrespectability.1.1.2Importance of Managing Corporate ReputationAs per the views ofWalker, (2010),itis important for an enterprise to manage the costefficiency of business operations in order to offer products at considerable price by managingprofits. On the other hand, cost leadership of entity is the characteristic which reflects itssuccessful management of business operations. Thus, it is important for an organisation tomanage compatibility with character factors in order to manage the corporate reputation.Corporate reputation represents trustworthiness and reliability on the stakeholders ofbusiness changes and innovation. It is related to individual’s interest in practices of enterprise.Cost leadership, differentiation, goals and objectives are the basic business strategy.1.1.3Corporate IdentityAccording to Roper and Fill, (2012), identify is the term which reflects firm’s ability todetermine value of its products and services as per market acceptance. Further, it is important forthe firm to manage effectiveness of brand identity and visibility because it the core conceptwhich reflects consistency and resistance ability of commercial enterprise. As per the views ofPonzi, Fombrun and Gardberg, (2011), corporate identify is based on three factors of identitymix that is communication, symbolism and behaviour. The model is based on developing symbolfor brand which helps in recognising name of brand.Caruana and Ewing, (2010), has discussed about hybrid identity which represents therange of ethnicities living within firm which represents its cultural norms and values. It is thephenomenon which helps in grouping functions of organisation in order to manage effectivenessin services. Practising these policies and plans helps the firm in successful management ofidentity its stakeholders.2
1.1.4 Relationship between Identity, Image and Corporate ReputationCulture, identify and character are the core elements which are related to corporatereputation of firm. Every concept share different practices and management function but it isimportant for the firm to coordinate three elements together for managing corporate reputation.Interactive factors of corporate reputation are related to internal and external activities of firmthat is media activities which allow the enterprise in marketing their products and services whichhelp in creating effective communication (Melo and Garrido‐Morgado, 2012). Further,communication of enterprise is concerned with shareholder’s perception over the services ofcompanyShareholder’s perception and character of firm helps in developing product identitywhich assist in managing effectiveness in overseas exchange and trading. However, the culturalfactors are related to employee’s management which help in promoting brand and increasingvisibility. As per Fombrun, corporate reputation of organisation can be managed by consideringfacts like, profitability that is financial condition which assist in determining companies ability topay off its debts (Walker, 2010). In addition, it protects stakeholders interest with an enterprisebecause shareholders are the key investors of firm and holds share in profits and losses of firm.Apart from this, volatility of business is related to its corporate reputation which helps indetermining ability to resist and consistency in dynamic trends of market. Thus, brand visibility,3Illustration2: Determinants of Corporate reputationIllustration1: Determinants of Corporate reputationSource: (Helm, Eggert and Garnefeld, 2010)
advertising, working style and ethical functioning are the key concepts which determinedcompany reputation in corporate environment.1.2 CRITICAL ANALYSIS OF CORPORATE STRATEGY AT NTB,STRUCTURE, CULTURE & SYSTEMS AT NTB.Corporate strategyIn accordance to functions in of Nation trust bank, it can be said that the firm issuccessfully managing alignment of its strategies by expanding its exchange services with thehelps of innovation culture.Employees satisfaction is the foremost priority of NTB bank wherethe work begins at 9:00 am and last by 6 PM. In accordance to manage positivity in NTB culturethe management has established set of rules which aims at common interest and working valuesof workers.Further, to establishing positive and motivated work environment, the managementfocuses organising different motivating and playful activities such as inter departmental quizzes,annual sports day events, corporate function, meetings and annual excursions (Melo andGarrido‐Morgado, 2012). In addition, the focus of management is also on managingeffectiveness in work for which the firm aims at organising regular training and developmentsfor old and newly recruited employees.Brand identity is unique logo which represents name ad functioning. However, to manageidentify functions the firm has its own symbol which represents its successful functions.Employees and middle management team of NTB is focused on managing promotion of identityin order to make brand visible among overseas customers. The value of chain of National bank isbased on employee view, identity, customer and image. In order to manage effectiveness ofvalue chain the focus of firm is on loyalty and satisfaction of customer because these are theindividual who are directly related to brand visibility and identity (Bartikowski and Walsh,2011). Identity aspects of bank are as follows:1.Symbolism: The bank has its own logo which represents its corporate identity overseas.The logo of bank is supportive recognition which helps in effective positioning of firm asper consumer response to its services.2.Behaviour:NTB is innovative in behaviour where the management functions are base onmanaging creativity in overseas enhance services in order to attract customers.4
3.Communication:The bank has open and transparent communication which helps inprotecting interest of stakeholders. Further, effective communication in enterprise helpsin effective decision making and encouraging employee participation.4.Employee view:For managing employee view the bank is focused on unique re-enumeration, opportunities for skill and career development.SystemThe ratio of dimension of nation trust bank represent effectiveness of its services andcorporate reputation which are described below:DimensionAttributesRatings (0-5)Goods and servicesValue of MoneyQualityCustomer satisfaction4InnovationCreativityFirst in marketEasy access and adapt3PerformanceGrowthProfitabilityResults4GovernanceEthical principlesFair business practicesTransparent4.5WorkplaceEqual opportunitySafe working environmentRewards5In accordance with dimension and ration it has been analysed that nation trust bank hasprofit of LKR 3.37 Bn in 2017 and is focused on making innovation in banking services. Likewith the emergence of digital technology the organisation has digitalised its bankings services inSri Lanka which has established easy mode of access to banking services NTB bank. ON theother hand, from services, it has been discovered that the management and its services of bank5
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