Lecture 2/Chapter 9

Question 1

Reputation

Answer 1

precious and irreplaceable commodity

Question 2

globalization impact

Answer 2

lowered costs, expanded choices for stakeholders, increased importance of reputation

Question 3

Web impact

Answer 3

stakeholders gained more effective ways to communicate, organize, express views, increased importance of reputation

Question 4

NGOS

Answer 4

Nongovernmental organizations - alongside governmental regulatory bodies, have gained influence and support, increasing importance of reputation

Question 5

Strong reputation benefits

Answer 5

customer retention, sales growth, higher market shares, reduction in hiring/retention costs, less regulation, favourable analyst opinions, positive media coverage, higher stock prices, profitability

Question 6

Strong reputation traits

Answer 6

high levels of: trust, esteem, good feelings

Question 7

dimensions (evaluating corp rep)

Answer 7

products/services, innovation, workplace environment, corp gov, corp citizenship/social responsibility, leadership/vision, financial performance

Question 8

Investors and reputation

Answer 8

financially oriented - pay attention to financial performance and company leadership re: reputation

Question 9

Consumers and rep

Answer 9

focus on products/services, governance, citizenship

Question 10

attitude

Answer 10

gauging how positively/negatively people feel toward a company

Question 11

annual gauges of corp rep in US

Answer 11

fortune magazine, Harris Interactive Rep Quotient, RepTrak

Question 12

Edelman Trust Barometer

Answer 12

2000. longitudinal data on trust perceptions by country on institutions, informational sources, and sectors

Question 13

Fortune Mag Most Admired companies

Answer 13

1982. based on survey of financial stakeholders, not general public. Financial bias to rankings - but used as indicator by managers/press

Question 14

Harris Interactive Reputation Quotient

Answer 14

1999. companies rated on 20 items grouped around 6 company dimentsions

Question 15

RepTrak by Reputation Institute

Answer 15

2005. International Research/consulting firm. rate companies on 23 items/attributes grouped around 7 dimensions

Question 16

RepTrak Pulse Score

Answer 16

questions measuring trust/admiration/respect/good feeling/esteem

Question 17

Reptrak Esteem

Answer 17

performance and products/services

Question 18

RepTrack Feeling

Answer 18

leadership and citizenship

Question 19

RepTrak Trust

Answer 19

governance

Question 20

REpTrak admire

Answer 20

innovation/workplace

Question 21

Perception (Reputation)

Answer 21

includes firsthand/personal experience, secondhand experiences (community or online), third party (mass media, news)

Question 22

Three levels of Info Processing

Answer 22

Bromley, 2000. Info processing happens at primary, secondary, tertiary levels.

Question 23

Primary level (Bromley)

Answer 23

personal experiences. Greatest impact on reputation formation

Question 24

Secondary level (of info processing)

Answer 24

what friends, family, relatives, online have to say.

Question 25

tertiary level (bromley)

Answer 25

mass media info - news reports, paid advertising

Question 26

Media System Dependency Theory

Answer 26

Ball Rokeach. demonstrates prospective stakeholders are more reliant on mass media (news reports and company's own corp comms messages) to shape perceptions of organizations

Question 27

Financial stakeholders

Answer 27

give more weight to info provided directly by company than info provided by 3rd party sources

Question 28

Misalignment

Answer 28

When behaviour conflicts with public image/vision, leading to repetitional decline

Question 29

Three stages of managing Corp rep

Answer 29

attention generation, uncertainty reduction, evaluation

Question 30

attention generation

Answer 30

step 1 - raise public profile, develop awareness/visibility, get into "consideration set" of prospective stakeholders – public profile must achieve baseline level before moving to step 2

Question 31

Uncertainty reduction

Answer 31

step 2 - explain in detail business & mission, small-scale advertising, partner/leverage other mature business viability, position in relation to sector/industry, articulate dimensions that make up business - media pitching to tell company story, sponsorships and presentations, enhance social media/storytelling content

Question 32

evaluation (corp rep)

Answer 32

step 3 - continuously demonstrate competence and relevance with which it fulfills mission - attract new/retain existing stakeholders, measuring reputation and identify areas for growth, targeted media and social media, leverage employees to help tell story

Question 33

corp reputation

Answer 33

a collective assessment in minds of prospective and current stakeholders that is earned - not an asset that may be purchased/stored away

Question 34

Co-ownership

Answer 34

reputation is a collective assessment in current and prospective stakeholder minds

Question 35

align words & deeds

Answer 35

not just what you say but what and how you do it