Blok 2.1 Flashcards
(141 cards)
A corporate personality consist of…
Corporate personality encompasses the capacity of a corporation to have a name of its own, to sue and be sued, and to have the right to purchase, sell, lease, and mortgage its property in its own name. In addition, property cannot be taken away from a corporation without Due Process of Law.
Brand identity
A company’s brand identity or a brand’s brand identity (if a company own more than one brand) is the way in which it is defined through its style both visually and the values it portrays (its brand personality).
There are 3 types of brand identity
Monolitic identity
The whole company presents itself as ONE both visually and in the way it communicates and behaves. BP and Burger King are good examples of that type of corporate brand identity.
Endorsed identity
Subsidiary brands have their own style and identity but pay homage to their parent brand which is clearly presented in the background. Subsidiary brands can have their own personality but are still endorsed by their parent brand. A good example of this is car manufacturers who have a series of sub-brands but are each new brand of car is still heavily associated with its parent brand.
Branded identity
Each division has its own identity and style but product lines do not have anything to do with each other or the parent. This can be as a result of mergers and acquisitions where existing brands with strong identities do not want to be merged with their new owner.
What is a risk society?
There are a lot of issues of social importance, the general public expects a corporate response.
How does an issue turn into a crisis?
- pressure (from stakeholders)
2. do not deal with it until it becomes a thing
What is the life cycle of an issue?
Stage 1: emerge
Stage 2: debate
Stage 3: codification
Stage 4: enforcement
In the life cycle of an issue, what does stage 1 emerge contain/mean?
People start to notice things.
In the life cycle of an issue, what does stage 2 debate contain/mean?
The media picks it up. (Social media)
In the life cycle of an issue, what does stage 3 codification contain/mean?
The government and federal instances get involved.
Businesses lobby action so there won’t come new laws preventing them.
In the life cycle of an issue, what does stage 4 enforcement contain/mean?
The company is forced to act.
What are the 4 issue response strategies?
- Buffering strategy
- Bridging strategy
- Advocacy strategy
- Thought leadership
What is a buffering strategy?
An issue response strategy. This means that the company will deny the existence of the problem. They will remain silent.
What is a bridging strategy?
An issue response strategy. The company recognises the problem and tries to adapt, they also engage w/ stakeholders.
What is an advocacy strategy?
An issue response strategy. The company tries to change the stakeholders’ expectation, through issue campaigns and lobbying.
What is a thought leadership strategy?
An issue response strategy. The company stakes a position and they commit to progressive change.
What are Antagonistic stakeholders?
They are stakeholders who have high importance and low support.
What is the support- importance stakeholder matrix?
It consist of two lines; level of interest and level of support.
When someone has HIGH importance and HIGH support they are: Advocate stakeholders.
When someone has HIGH IMPORTANCE and LOW SUPPORT they are: Antagonistic stakeholders.
When someone has LOW IMPORTANCE and HIGH SUPPORT they are: Low-priority stakeholders.
When someone has LOW IMPORTANCE and LOW SUPPORT they are: Problematic stakeholders.
What are Advocate stakeholders?
They are stakeholders with high importance and high support.
What are Low-priority stakeholders?
They are stakeholders with low importance and high support.
What are Problematic stakeholders?
They are stakeholders with low importance and low support.
Are company vision values shared by all employees?
No. Leaders of the company must clearly define the values of the organization, the vision of leadership and expected behaviors for employees.
How can organisations deal with crisis scenarios?
1st: anticipation: predict and prevent potential crises before the occurred
2nd: resilience: ability to cope with a crisis when it occurs, improvise.