Corporate Reputation and its importance for business success

Table of Contents

1. Introduction

1.1 The dissertation topic

1.2 Weber Shandwick Worldwide

1.3 Structure of the dissertation

2. Literature Review

2.1 The relationship between the marketing communications function, corporate communications and Public Relations

2.2 Principles of Public Relations

2.2.1 Public Relation practices promoting the corporate brand

Public Affairs

Investor Relations

Media Relations

Employee Relations

2.2.2 The changing environment of Public Relations

Public Relations in the global context

Public Relations in the digital age

2.3 The concept of corporate reputation and the role of Public Relations

2.3.1 Corporate reputation defined

Factors that are shaping the corporate reputation

The role of the CEO as the personified company reputation

Corporate social responsibility

2.3.2 The role of the PR consultancy in corporate reputation management

2.4 Evaluation of Public Relations effectiveness

2.4.1 Current approaches of measuring Public Relations effectiveness

Ketchum’s effectiveness yardstick (KEY)

The IPR’s PR Toolkit

Advertising Value Equivalents (AVE)

Media Content Analysis

2.5 Conclusion

3. Methodology

Objectives

3.1 Defining the research methodology and strategy

3.1.1 The research philosophy

3.1.2 The research approach

3.2 Corporate reputation investigated

3.2.1 Basic requirements

3.2.2 Company selection criteria

3.2.3 Method of data gathering

Questionnaire survey

3.2.4 Method of data evaluation and presentation

Statistical analysis

Data presentation

3.2.5 Reflection

4. Analysis

4.1 Importance of enough data points for valid statistical analysis

4.2 Corporate PR as an important marketing communications tool

4.2.1 Who handles the PR of Europe’s leading companies

4.2.2 Companies use corporate PR more often than corporate advertising

4.3 Corporate reputation investigated

4.3.1 Communication managers’ definition of corporate reputation

4.3.2 Factors shaping the corporate reputation

4.3.3 Reputational drivers that can be influenced by corporate PR

Companies with in-house PR department

Companies with external PR consultancy

4.3.4 Impact of corporate reputation on financial performance

4.4 Importance of corporate reputation management

4.4.1 Maintenance of corporate reputation

4.4.2 Market research on perceived corporate reputation

Possible reasons for differences between expected and perceived reputation

4.4.3 Key factors for choosing a PR consultancy

4.5 Measuring Public Relations effectiveness

4.5.1 Importance of measuring PR in clear financial terms

4.5.2 PR objectives – financial or non-financial

4.5.3 Majority of companies measures if PR objectives have been reached

Methods of measuring PR effectiveness

5. Conclusion and implications of findings for Weber Shandwick

Implications of findings for Weber Shandwick

Objectives & Themes

The primary aim of this research is to investigate the European perspective of corporate reputation, examining its role in business success and the importance of professional management. The study seeks to address how communication managers define reputation and identify the strategies used by leading companies to build and measure the effectiveness of their public relations activities.

• The role of corporate public relations in the broader marketing communications mix.
• Definitions of corporate reputation and key drivers that shape it.
• The impact of reputation on financial performance and competitive advantage.
• Strategies and tools used by companies to measure the effectiveness of PR.
• Decision-making factors for engaging external PR consultancies.

Excerpt from the Book

Summary of Chapters

1. Introduction: Presents the research topic, context, and the structure of the dissertation regarding corporate reputation and PR management.

2. Literature Review: Critically reviews academic theories on marketing communications, the principles of public relations, and various methods for measuring PR effectiveness.

3. Methodology: Details the research philosophy, the deductive approach, and the survey strategy used to gather data from 700 European companies.

4. Analysis: Evaluates the survey results regarding reputation drivers, the influence of corporate PR, and current practices in measuring PR impact.

5. Conclusion and implications of findings for Weber Shandwick: Summarizes the key findings and provides strategic insights for the PR consultancy Weber Shandwick.

Keywords

Corporate Reputation, Public Relations, Intangible Assets, Marketing Communications, Reputation Management, PR Measurement, Financial Performance, Stakeholder Management, Corporate Social Responsibility, Survey, European Market, Weber Shandwick, Reputation Drivers, Communication Strategies, PR Consultancies.

Frequently Asked Questions

What is the core focus of this research?

The study investigates the European perspective on corporate reputation, specifically how it is managed, perceived, and valued by communication managers in leading companies.

What are the primary themes explored?

Key themes include the definition of reputation, factors that shape it, the role of corporate PR, the impact of reputation on financial success, and methods for measuring PR effectiveness.

What is the primary objective of this dissertation?

The main objective is to identify the expectations and opinions of European communication managers regarding corporate reputation and to understand how these firms manage and measure their PR efforts.

What research methodology is employed?

The research uses a deductive approach and a quantitative pan-European company survey directed at heads of corporate communications and PR.

What does the main body of the work cover?

The main body reviews existing literature on PR and marketing communications, details the survey methodology, presents a statistical analysis of the findings, and discusses the implications for the PR industry.

Which keywords best describe this work?

Important keywords include corporate reputation, public relations, reputation management, measurement tools, and European communication management.

How does the Enron scandal illustrate the research topic?

The Enron and Arthur Andersen case is used to demonstrate how strategic errors and dubious corporate behavior can lead to the rapid destruction of a company's reputation and subsequent business failure.

Why is the role of the CEO significant for reputation?

The CEO is increasingly viewed as the personification of the company; therefore, the CEO's reputation is intrinsically linked to the overall corporate reputation and brand value.