Benchmarking Corporate Reputation



Introduction1

Discussion1

Reputation and Image1

Intangible Resources of an Organization2

Determinants of Reputation3

Intangible Resources and Resource-based View4

Benchmarking7

Benefits of Good Reputation10

Conclusion12

References14

Introduction

This study aims to highlight the importance of corporate reputation and image. Firms can benchmark the levels of quality, corporate image, and innovativeness to improve the correspondence of different corporate reputation aspects. Firms have been struggling with sustainability practices across different levels including strategic, operational, and outcome. An increased focus on these measures is because of the desire to achieve a competitive advantage. Benchmarking allows organizations to improve their sustainability practices. A large number of firms use sustainability practices for the purpose of competitive analysis, implementation of different programs for improvements, performance assessments, and other factors. Effective benchmarking requires an understanding of outcome measures for both small and large organizations. Therefore, the benchmarking of different sustainability practices, corporate image, and reputation required different inter and intra organizational approaches.

Discussion

Reputation and Image

The globalization of the economy and trade liberalization tends to reduce barriers to entry. The technological innovation has increased the availability substitute products and the distribution of information reinforces the expectations of customers. In this context, ability of the company to sustain its competitive advantage depends on increasing its ability to protect, enrich and enhance the resources available and in particular intangible assets. The challenges of the current business environment have not only increased the rate of obsolescence of competitive advantages but cause a rise in the power of the value of intangible resources. Marketing as a discipline can play a major role by providing a measurable basis for assessing the impact of strategic decisions and direction for marketing activities of the company. Research on the reputation of the company is important for several reasons. First, the reputation of the company is one of the most visible aspects of the business, and it has an impact on decision-making and managerial competitive strategies. The decision making and competitive strategies have clear implications on the performance of the company. The reputation of the company represents an important part of understanding the nature of intangible resources and competitive advantage in general (Yusuff, 2004, pp. 261).

Benchmarking approaches, also called evaluation in groups, can be divided into several methods have in common the characteristic that they are based on a comparison of the employee's performance and that of their coworkers. Generally these assessments are lead supervisor. They are very useful for making decisions on pay increases based on merit, promotions and distinctions, because they allow the location of employees from best to worst.

Intangible Resources of an Organization

The concept of resource stems from the desire to describe the full potential of the company, the resources constituting elementary entities to define potential.

A company is a unique confluence of heterogeneous resources and capabilities that drive its competitive advantage and profitability. These resources can be viewed as tangible such as land, labor, and capital, and intangible, such as corporate reputation, learning, trademarks, human, such as specialized skills, leadership, etc. Intangible resources are often considered as sources of advantage competitive because their imitation is ...