Ignored for a long time, intangible assets are now gaining increased attention. In the last decade, especially in the United States, company managers recognized that intangible assets may provide companies with a more stable basis for competitive advantage than patents and technologies. Hence, companies started to invest in corporate Public Relations (PR) activities to communicate good corporate behaviour, gain good will and to improve the public perception of their corporate reputation.
The main aim of this dissertation research project is to develop an understanding of the European perspective of corporate reputation and its management and importance for business success.
Based on a literature review on the topic of marketing communications and PR, which comprises the first part of the dissertation, a questionnaire has been developed in order to examine expert opinions. The discussion on research methods can be found in the third chapter.
Hosted by the PR consultancy Weber Shandwick Worldwide, the questionnaire has been sent to 700 of Europe′s leading companies. Communication managers were asked for their opinions on the topic of corporate reputation and its importance for business success. The fourth chapter discusses and evaluates the results of the pan-European survey.
The last part of the dissertation actually discusses the implications of findings for Weber Shandwick and its reputation management practice.
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
The dissertation topic
“In today’s world where ideas are increasingly displacing the physical in the production of economic value, competition for reputation becomes a significant driving force” Alan Greenspan, Chairman US Federal Reserve
Ignored for a long time, intangible assets are now gaining increased attention. In the last decade, especially in the United States, company managers to a greater extent recognized that intangible assets may provide companies with an even more stable basis for competitive advantage than developed patents and technologies. Hence, companies started to invest in corporate Public Relations (PR) activities to communicate good corporate behaviour, gain good will and to improve the public perception of their corporate reputation.
However, companies’ communication managers still show inconsistent attention to the actions necessary to maintain corporate reputation. PR consultants are often forced to explain and prove the positive contribution of PR expenditures to the company’s financial performance. Therefore, PR consultancies need to both examine clients’ expectations and to develop toolkits that prove the effectiveness of Public Relations in clear financial terms.
In the last years, managing corporate reputation as a valuable asset became a central management issue for European companies as well. The major objective of this dissertation is to identify European communication managers’ expectations and opinions about corporate reputation, its management and contribution to business success.
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.
- Quote paper
- Riccarda Dümke (Author), 2002, Corporate Reputation and its importance for business success, Munich, GRIN Verlag, https://www.grin.com/document/10004
