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Business Fundamentals Quiz 1 > Lecture 2/Chapter 9 > Flashcards

Lecture 2/Chapter 9 Flashcards

1
Q

Reputation

A

precious and irreplaceable commodity

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2
Q

globalization impact

A

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

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3
Q

Web impact

A

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

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4
Q

NGOS

A

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

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5
Q

Strong reputation benefits

A

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

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6
Q

Strong reputation traits

A

high levels of: trust, esteem, good feelings

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7
Q

dimensions (evaluating corp rep)

A

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

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8
Q

Investors and reputation

A

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

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9
Q

Consumers and rep

A

focus on products/services, governance, citizenship

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10
Q

attitude

A

gauging how positively/negatively people feel toward a company

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11
Q

annual gauges of corp rep in US

A

fortune magazine, Harris Interactive Rep Quotient, RepTrak

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12
Q

Edelman Trust Barometer

A
  1. longitudinal data on trust perceptions by country on institutions, informational sources, and sectors
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13
Q

Fortune Mag Most Admired companies

A
  1. based on survey of financial stakeholders, not general public. Financial bias to rankings - but used as indicator by managers/press
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14
Q

Harris Interactive Reputation Quotient

A
  1. companies rated on 20 items grouped around 6 company dimentsions
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15
Q

RepTrak by Reputation Institute

A
  1. International Research/consulting firm. rate companies on 23 items/attributes grouped around 7 dimensions
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16
Q

RepTrak Pulse Score

A

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

17
Q

Reptrak Esteem

A

performance and products/services

18
Q

RepTrack Feeling

A

leadership and citizenship

19
Q

RepTrak Trust

A

governance

20
Q

REpTrak admire

A

innovation/workplace

21
Q

Perception (Reputation)

A

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

22
Q

Three levels of Info Processing

A

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

23
Q

Primary level (Bromley)

A

personal experiences. Greatest impact on reputation formation

24
Q

Secondary level (of info processing)

A

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

25
Q

tertiary level (bromley)

A

mass media info - news reports, paid advertising

26
Q

Media System Dependency Theory

A

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

27
Q

Financial stakeholders

A

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

28
Q

Misalignment

A

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

29
Q

Three stages of managing Corp rep

A

attention generation, uncertainty reduction, evaluation

30
Q

attention generation

A

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

31
Q

Uncertainty reduction

A

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

32
Q

evaluation (corp rep)

A

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

33
Q

corp reputation

A

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

34
Q

Co-ownership

A

reputation is a collective assessment in current and prospective stakeholder minds

35
Q

align words & deeds

A

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

Business Fundamentals Quiz 1 (3 decks)

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