Develop Corporate Image notes

DEVELOPING CORPORATE IMAGE / DEVELOP CORPORATE IMAGE

 

6.1.  Introduction of the Unit of Learning / Unit of Competency

 

This unit of competency and learning aims at equipping the trainee with the necessary knowledge, skills and expertise to develop monitor and evaluate corporate image strategies in order to build a sustainable corporate image for enterprises. The critical aspects that will be covered involve developing corporate strategies, designed CSR programed budgets, carry out public relations and social responsibility. In the business world today, corporate image is an invaluable asset as it works towards sustainable businesses through increased acceptance of the business by all key stakeholders. Customers, suppliers, government agencies, financial institutions, creditors and the general public, support businesses that do have a good corporate image.

Corporate image is of importance because it prepares the trainee into world of work in business activities and providing business in development of a competitive image in the market places. The basic learning resources required as pertains to this course are internet connectivity, computers and printers among many others for success implementation of the unit. Trainees are required to have good ethical netiquettes during the undertaking of this course. The trainee is expected to have earned communication skills and knowledge towards practical presentations by the end of the course.

 

6.2.  Performance Standard

The trainee should be able to develop and implement corporate image strategies, develop synergies for innovation as well as maintain stakeholder’s relationship and initiate global business opportunities. Manage project resources, manage corporate image through media, undertake periodic corporate image review and monitor and evaluate corporate image in accordance to the best practices in the market performance according to the best corporate strategies of the organizations.

 

6.3.  Learning Outcomes

  • List of Learning Outcomes
    1. Develop corporate image strategy
    2. Develop and implement public relations strategy
    3. Carry out corporate social responsibility (CSR) activities
    4. Maintain stakeholders relationship
    5. Develop synergies for innovation
    6. Develop and implement rebranding strategies
    7. Initiate international/ global business opportunities
    8. Manage corporate image through media
    9. Undertake periodic corporate image review and rebrand
    10. Monitor and evaluate corporate image

 

  • Learning Outcome Develop Corporate Image
    • Learning Activities
Learning Outcome LO1. Develop Corporate Image
Learning Activities Special Instructions
·         Invite a corporate / public relations manager of a reputable firm situated near the institution to help in outlining the process involved in the development of a corporate image policy

·         Brainstorming in group discussions on factors that should be considered when designing corporate identity tools.

·         Design appropriate corporate identity for different industries

 ·      Invitation role playing

·      Designing identity tools such as logos to identify with suggested businesses

·      Form groups and assign the responsibilities to each group

 

 

  • Information Sheet No1/6

Corporate image could be used interchangeable as corporate identity. Corporate identity tools include such items as a logo, brand name, specific colors, use of specific tones before an advertisement, use of slogans among many others. These tools help the general public to quickly identify the company product, what it stands for and what generally comes in mind when anyone views a product. It is important that a company should identify tools used by reputable firms in one’s country as well as develop some identity tools that could be used by different companies in different industries.

 

Definition of key terms

  1. Corporate identity or corporate image: – is the manner which a corporation, firm or business presents themselves to the public (such as customers, employees, general public, suppliers ).
  2. Corporate image policy- a policy developed by a company management to build on the perception held by various stakeholders concerning the
  • Corporate image objective- a plan that is developed to clearly outline the ways/means that a company shall use to build its corporate

 

Content

A corporate identity or corporate image is the manner which a corporation, firm or business presents themselves to the general public (such as customers and investors as well as employees). Basically, its the general image of the organization towards the public.

Consequently, corporate identity is a primary goal of the corporate communications, for the purpose to maintain and build the identity to accord with and facilitate the corporate business objectives.

The corporate   identity is typically conceptualized   by way of   branding and   the   use of trademarks, but it can also include things like product design, advertising, public relations, etc.

As pertains to above, this amounts to a corporate title, logo, (logotype and/or logogram) and supporting devices commonly assembled within a set of corporate guidelines. These guidelines

 

govern how the identity is applied and usually include approved color patterns, typefaces, page layouts, fonts, and others.

  • Components of corporate identity/image.

 

The components of corporate identity are:-

  1. Corporate communication: Is a complex issue associated with the manner in which the organization communicates with its various stakeholders. Corporate communication can be both controlled and uncontrolled by nature.
  2. Corporate design (visual identity): Corporate visual identity is an array of visual cues designed by the organization for the purpose of differentiating it from other organizations and project quality to all This can be done through advertisements, packaging and promotion, use of specific colors etc.
  3. Corporate culture: Corporate behavior’s core values, behavior and beliefs are reflected in its corporate
  4. Corporate behavior: Corporate behavior is associated with senior management task of instigating the clear communication of the corporate vision and strategy. The actions and statements from senior management exert a substantial influence over the management
  5. Corporate structure: Consists of organization structure and branding structure and fundamental component of corporate Organizations engage in branding strategies in order to differentiate themselves from competitors.
  6. Industry identity: This refers to fundamental industry features such as competitiveness, size, and rates of change which influences the corporate identity of a company.
  7. Corporate strategy: Is the blue print of a firm’s fundamental objectives and strategies for competing in their given market? It determines what the company produces, the level of profit and stakeholder’s perceptions about the company.

 

Corporate identity tools

Managing a corporate identity requires three tools that must be interlinked, and each has the potential to influence the overall impression of the company. These are:-

  1. Corporate design (visual appearance): Elements of corporate design include the company logo, its visual corporate presence at trade fairs, the design of the company website and prominent design features of a company products and
  2. Corporate behavior: The conduct of a company towards all those who could be regarded as stakeholders. Apart from external behavior affecting customers, media and public, corporate behavior can also be shaped by internal matters e.g. the way employees are treated and management styles of
  3. Corporate communication: A consistent language and communication style are important components of a corporate

 

Developing corporate image components

Regardless of all the corporate identity components discussed herein all ensure that are adhered to.

 

Conclusion

In pursuit of achieving excellent corporate image, different designs images have to be considered. Different businesses in different industries require different designs that are appropriate identity tools such as logos, brand names, slogans etc. The company should identify the corporate identity tools that are used by reputable companies in his or her country and adopt them as a competitive advantage strategy. The enterprise should also embrace the importance of building a corporate culture and corporate behavior for a good corporate image.

 

  • Self-Assessment
  1.          is the blue print of a firm’s fundamental objectives and determines what the company produces, the level of profit and stakeholder’s perceptions about the
  2. Corporate identify b) Corporate design c) Industry design d) Corporate structure
  3. The following are corporate identify tools which one is not
  4. Corporate communication b) Corporate behavior c) Corporate culture d) Corporate design
  5. A is visiual presentation of company at trade fairs, product packages and company website?
    1. Logo b) Corporate Design c) Trade Mark                         d) Website
  6. Which level of strategy provides direction on company objectives, goal, missions and direction the business should be in and its growth policy
    1. Business level strategy b) Corporate strategy c) Marketing strategy d) Service strategy
  7. Which of the following falls within the scope of corporate strategy/
    1. Target market definition b) Vertical integration c) Brand policies d) Line extension
  8. Scope goals, objectives, resource deployment and identification of sustainable competitive advantage systems are key components for developing corporate strategy?

True [   ]                           False [ ]

  1. Define the following terms
  2. Corporate image b) Corporate objectives
  3. What is the importance of developing corporate image policy?
  4. Discuss the various factors to consider when carrying out corporate communication and advertisement
  5. Design an appropriate corporate identity tools for different organizations
  6. Identify and suggest modifications to the current corporate identity tools used by nearby companies
  7. Identify three organization of your choice and describe how they carry out corporate communication and corporate advertising.

 

  • Tools, Equipment, Supplies and Materials
    • Computer
    • Digital devices
    • Internet connectivity
    • Stationery
    • Case studies

 

  • References
  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations (10th Edition), Prentice Hall
  2. Fraser Seitel( 2010). The practice of Public Relations (11th edition), Prentice Hall
  3. David Guth, Charles Marsh, Allyn and Bacon (2008). Publc Relations: A values Driven Approach (4th Edition), Boston

 

  • Learning Outcome Develop and Implement Public Relations Strategy

6.3.3.1. Learning Activities

 

 

Learning Outcome LO2.Develop and Implement Public Relations Strategy
Learning Activities Special Instructions
·         Develop a public relation strategy for the organization

·         Visit a nearby organization and learn on their public relations strategies and how they are of benefit to their

organization

 ·         Select two or three PR activities to engage in.

 

  • Information Sheet No1/6

Introduction

Public relations basically are activities that promote the positivism of an organization to the general public. An Enterprise or organization should be able to engage in various public relations (PR) activities. The enterprise should be able to form social groups in the digital platforms e.g. Facebook, WhatsApp, twitter and use them to promote the image of an institution. The enterprise management should appreciate the immense contribution of media, employee relations, and community relations in promotion of corporate image. Organizations invest in public relations as a promotional activity that helps out in the sale of the organizations corporate image.

Definition of key terms

 

Public relations strategy: a plan of action that aims at creating a positive attitude towards an organization in the eyes of its stakeholders.

Public relations: refer to all those activities that are geared towards promoting a positive reputation about an organization.

Public relations activities: activities that aim at creating a positive attitude towards an organization.

Content

 

Public relations tools and activities PR tools are very cost effective and often give you a degree of control than more broadly targeted advertising campaigns.

Tools and activities that help to build a business’s reputation:

 

i.    Media relations

 

Media strategies focus on circulating messages through media channels to manage how your business is portrayed by the media.

Media tools may include releasing media statements and facts sheets, offering on-site media tours to encourage journalists to report positive messages about your business and using social media to get the attention of journalists and track journalists who report in your market. One can use local, regional or state media to:

 

  • Promote the business
  • Manage risks, issues and crises affecting the business

 

ii.    Advertorials

 

Advertorials are advertisements in the form of news stories or reviews in newspapers many businesses employ advertising or marketing professionals to help them develop main stream.

iii.    Social media

 

Social media lets you bypass mainstream media and go straight to one’s customers. Using social networking sites such as Facebook and twitter allows one to follow and be followed by journalists, drive web traffic, manage issues by responding quickly to criticisms or negative perceptions and increases exposure for your business brand.

iv.    News letters

 

Print or emailed newsletters are a good way to promote your business, communicate with customers and keep them informed of new products and services.

v.   Brochures and catalogues

 

“Take home” or mail out brochures’ or catalogues can help keep your customers thinking about your business and its products and services.

Properly designed brochures and catalogues give customers confidence in you and your brand and help drive customers to your website or store.

vi.    Business events

 

Events are opportunities for business people to gain exposure for their business, promote new products or services and make sure accurate information gets to the targeted customers.

Make sure you go to the event prepared with marketing materials to disseminate and collect information and customer details.

vii.    Speaking engagements

 

Speaking at events where customers are likely to attend helps position you as a leader or innovator in your field. As a business owner, or leader, building your reputation as an expert also builds the reputation of your business and draws new customers.

viii.    Sponsorship or partnerships

 

Supporting a not-for-profit cause can help build feelings of goodwill and loyalty towards a business. Community partnership may involve an exchange of funds or in kind- benefits to grow a local community organization in return for benefits that promote your business reputation.

 

Partnerships can help consumers identify your brand with good business practice and good ethics.

ix.    Employee relations

 

Your staffs are ambassadors for your business and brand.

 

Conduct employee relations build business culture and team relationships by business culture and team relationships by sharing information, promoting involvement and instill a sense of pride in business achievement.

  • Community relations

This helps build customer loyalty. Engaging local stakeholders helps build your profile and level of influence, helping you attract more customers through word of mouth and ensuring your business interests are factored into community decision making.

  • Public relations budget

Prepare a PR budget that is reasonable and achievable depending on your financial ability. Allocate resources time and money for public relations activities.

  • Analysis and review of public relations activities;
  • Consistently review the PR activities being engaged in and modify as situations may
  • This helps the PR activities to produce the desired

Conclusion

 

Campaigns are a significant part of the public relations and must be done with meticulous planning. Specific step by step measures should be taken when planning any PR campaign to ensure it meets the objectives set or in other words, achieves what needs to be achieved. Various tools and activities such as use of media, partnerships, and business events can be used to develop an effective PR strategy.

 

 

1.3.3.3.Self-Assessment

  1. When facing a crisis, a business should consider
    1. Not holding a press conference until things cool
    2. Freezing all corporate
    3. Developing a public relations
    4. Leaving the country during the cover of darkness.
  2. Which part of public relations deals with emerging trends and their potential impact on an organization?
    1. Persuasion
    2. Issue management
    3. Public opinion

 

  1. Publicity
  1. Which are not reasons for designing PR strategy in a business?
    1. to keep action in line with
    2. to help us be able to control our
    3. to be outstanding in gaining power and
    4. to better understand and focus our
  2.                         use various tools like news, speech special events
    1. Public relation professions
    2. Advertisment specialist
    3. Media planners
    4. Marketing managers
    5. Public relations is often confused with
      1. Advertisement
      2. Promotion of sales
      3. Publicity of products
    6. Explain the meaning of the term public relations strategy as used in business?
    7. Discuss the various factors that guide the identification of public relations activities for a business/
    8. What are the key elements to consider when determining Public relations resources and expenditure?
    9. Discuss the importance of carrying out analysis and review of public relation activities?
    10. Is the trainee capable of mounting successful PR activities to promote the reputation of the organization through use of different tools and activities?
      1. By use of one global organization, illustrate how it builds its public relation image
      2. Highlight the tools and activities used to build a business

 

 

 

  • Tools, Equipment, Supplies and Materials
    • Computer
    • Digital devices
    • Internet connectivity
    • Stationery
    • Case studies

 

  • References (APA)
  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations (10th Edition), Prentice Hall
  2. Fraser SITEL (2010). The practice of Public Relations (11th edition), Prentice Hall
  3. David Guth, Charles Marsh, Allyn and Bacon (2008). Publc Relations: A values Driven Approach (4th Edition), Boston

 

  • Learning Outcome Carry out Corporate Social Responsibility
    • Learning Activities

 

 

Learning Outcome LO3. Carry out Corporate Social Responsibility
Learning Activities Special Instructions
·         Visit nearby organizations (successful reputable institutions and identify the corporate social responsibility) (CSR) activities they engage in.

·         invite a resource person from a reputable organization (for example equity bank) and discuss on benefits that their organization accrues from their involvement in

CSR activities

 ·         Organize the visitation of the institution

 

  • Information Sheet No1/6

Introduction

Corporate Social Responsibility (CSR) is a key important factor in the success of any enterprise in modern days. Through CSR activities are of important to an organization in such a way that it is able to build its corporate image among all key stakeholders. It creates a sustainable relationship between a company, its products and services which in effect increases a company’s growth and competitiveness in the market place leading to a good market performance. Examples of CSR are like Equity bank wings to fly and many more.

 

Definitions of key terms

Corporate social responsibility (CSR): Refers to the strategies corporations or firms use to conduct their business in a way that is ethical, society friendly and beneficial to community in terms of development.

 

Community development (CD): Refers to initiatives undertaken by community with partnerships with external organizations or corporations to empower individuals and groups of people by providing these groups with the skills they need to effect change in their own communities.

 

Content

Roles of CSR in community development

  1. to share the negative consequences as a result of industrialization; this is related to increasing conscience- focused market places necessitating more ethical business projects
  2. Closer ties between corporations and Through CSR the existence of corporations in the social system is felt beyond a perception that corporation is a place just to get employment and procedures of goods and services. Undertaking this activity helps corporations and communities stay in peace and harmony.
  3. Helping to get talents: Organizations with a reputation of CSR can take advantage of their status and strengthen their appeal as an attractive employer by making their commitment part of their value proposition for potential
  4. Role in transfer of technology (TOT): Closer ties help in TOT between corporations and communities

 

  1. CSR helps in protecting the environment the issue of going green is gaining popularity and some CSR programs aim at protecting the environment within their
  2. CSR promotes interdependency between a corporation and community; this creates sustainable development in the long

 

The CSR committee determines the company’s CSR activity policy (s) and communicates those policies to all the departments.

Examples of CSR activities include;

  1. Economic dimensions
    • Assisting financially the less advantaged in society
    • Provision of employment to community members
    • Payment of taxes
    • Provision of market to raw materials produced by communities
  2. Social dimension
    • Building of schools, dispensaries, sporting facilities
    • Educating children from poor backgrounds

 

  1. Environmental dimension
    • Tree planting
    • Conservation of endangered species g. Bamburi Cement Company’s Haller Park in Mombasa.
    • Provision of clean water for human and animal intake

 

 

CSR budget- the CSR budget should be in line with the company’s CSR policy.

It should be reasonably within its ability and aim at benefiting the majority of community members.

CSR report; information on CSR activities should be recorded upon evaluation to offer more insight for future CSR plans and activities.

 

Illustration

CSR activities / CSR dimensions: Most CSR activities revolve around the activities; Economic, Social and Environmental dimensions as shown below:

 

 

Figure 23: CSR Dimensions. Source: Pranav vikas. Limited (India)

 

 

Conclusion

CSR is critical in the development of successful enterprises through actively building a sustainable corporate image. In essence it creates a relationship with key stakeholders for continued growth and development of the enterprise. It also acts as a marketing tool for a company’s products and services. Continuous review of the CSR activities keeps the firm in a competitive edge and increases the success of organization.

 

  • Self-Assessment
  1. All definitions of CSR recognize that
  2. Businesses have a responsibility for their impact on society and environment
  3. Community environment should be the main focus of CSR
  4. Maintaining CSR in a business is complex and an impossible venture
  5. Companies must pay equal attention to business ethics and sustainability
  6. What are the four main strategies for CRS in businesses?
    1. Proaction, Defensive, Reaction, Reinvestment
    2. Defense Proaction, Reaction, reinvestments
    3. Reaction, defense , investment , withdrawal
  7. Social responsibility is a government policy that does not help the growth of businesses

 

True [   ]                                               False [ ]

  1. Define the following terms
    1. Corporate social responsibility
    2. Community development
  2. Discuss the role of corporate social responsibility in community development?
  3. Highlight various social responsibility activities
  4. Using your institution as an example describe the various social responsibilities conducted by your institution and its impact on the community?
  5. Identify effective CSR activities to promote positive attitude towards an organization in the nearby community?

 

  • Tools, Equipment, Supplies and Materials
  • Computer
  • Digital device
  • Internet connectivity
  • Stationery
  • Format templates
  • Case studies

 

  • References

 

  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations( 10th Edition), Prentice Hall
  2. Fraser P. Seitel( 2010). The practice of Public Relations( 11th edition), Prentice Hall
  3. David Guth, Charles Marsh, Allyn and Bacon (2008). Publc Relations: A values Driven Approach (4th Edition), Boston
  4. Maimunah Ismael (2009) corporate social responsibility and its role in community An international perspective vol 2 journal of international social research

 

  • Learning Outcome Maintain Stakeholders Relationship
    • Learning Activities

 

 

Learning Outcome LO4. Maintain Stakeholders Relationship
Learning Activities Special Instructions
·         Identify the stakeholders of;

a.       The institution where they train

b.      Stakeholders of a nearby company.

 

·         Invite a resource person- preferably from the marketing department to discuss on issues related to analysis and response mechanism they apply upon receiving stakeholder’s feedback.

 ·         Tutor facilitate the invitation of the resource personnel

 

 

  • Information Sheet No 1/6

Introduction

Familiarize with the term stakeholders. Businesses should be able to recognize its key stakeholders and find out their main concerns. The issues so raised by the key stakeholders should be collected and analyzed objectively in order to identify major concerns that they require to be addressed. Responses to address the concerns must be made to the concerned stakeholders using the right channels.

 

Definition of key terms

  1. Stakeholder- a person or organization or group that has an interest in the company for example customers, employees, government agencies
  2. Stakeholder feedback- the responses or perceptions held by a company’s stakeholders regarding the operations of the

 

Content

Internal stakeholders

They are concerned with the success of the organization for example, employees want to be assured of job security and fair remuneration management want a good reputation of their firm and the owners need to earn reasonable returns for their investment.

External stakeholders

The external stakeholders have different interests such as:

  • Suppliers- to be assured of continued supply and payment for supplies.
  • Government- for taxation purpose
  • Financial institutions- to be assured of the ability of firm to repay
  • Creditors- to be assured of payment
  • Society- to be assured that the firm is beneficial to community
  • Customers- they need guarantee that the goods and services being offered are of quality nature and that there is value for their money.

 

Stakeholders’ feedback

  • Stakeholder’s feedback is acquired through observation, interviews, questionnaires, and media The information is collected from both internal and external stakeholders.
  • Analysis of stakeholders should be carefully done to ensure that each stakeholder’s concerns are fully addressed to avoid conflicts between the company and its

 

Responding on stakeholders feedback

  • Once an analysis has been done, communication should be done so as to inform the concerned that any emerging issues that are being Communication means should be selected based on the target audience and the effectiveness of the method of communicating the responses.

Illustration

The following chart shows the business stakeholders.

 

Figure 24: Business Stakeholders

 

Conclusion

Stakeholders (both internal and external) are key in the success of any enterprise. Their concerns must be objectively collected and analyzed. The company should quickly respond to the concerns and make sure that they are satisfied with the actions that they have taken.

 

  • Self-Assessment
    1. The following are example sof external stakeholders except
      1. Suppliers
      2. Customers
      3. Employees
      4. Creditors
    2.                                        group of forces determine the level of competitiveness and profitability in a business
  1. existing potential customers , government regulations , buyers and suppliers
  2. Stakeholders , senior management, major competitors and customers
  3. Customer and suppliers . availability of substitute services /product

 

  1. Suppliers cartels, dominant buyers and powerful stakeholders
  2. What is the main purpose of stakeholder mapping
    1. To establish how each main stakeholder influence the organization future plans
    2. To clarify the main roles of individual stakeholders
    3. To identify major stakeholder expectation and source of power in the business
    4. Using examples explain the meaning ad importance of stakeholders in a business
    5. Discuss the role on external stakeholder in a business enterprise
    6. What strategies can one use in collecting stakeholders feedback for a business ?
    7. Outline the key differences between internal and extreme
    8. Identify stakeholders of different enterprises within your locality
    9. Identify the methods used by a reputable organization near you institution to respond to issues raised by its key stakeholders

 

  • Tools, Equipment, Supplies and Materials
  • Computer
  • Digital device
  • Internet connectivity
  • Stationery
  • Case studies

 

  • References

 

  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations( 10th Edition), Prentice Hall
  2. Fraser Seitel( 2010). The practice of Public Relations( 11th edition), Prentice Hall
  3. David Guth, Charles Marsh, Allyn and Bacon( 2008). Publc Relations: A values Driven Approach (4th Edition), Boston

 

  • Learning Outcome Develop Synergies for Innovation
    • Learning Activities

 

 

Learning Outcome LO5. Develop Synergies for Innovation
Learning Activities Special Instructions
·         Visit a major business enterprise close to your institution and identify the benefits that accrue from forming beneficial partnerships

·         Identify the collaborative partnerships that your institution engages in and the resultant innovations.

 ·         Provide internet connectivity and facilitate the visitation activity

 

 

  • Information Sheet No1/6

 

Introduction

Development of synergies involves amalgamation of two or more organizations as partners to create a bigger benefit for all the partners’. It ensures that the collective results attained are for increased mutual benefit for all. This results to combined resources of more than one organization that in the end brings innovation in businesses.

 

Definition of key terms

  1. Synergy- the interaction or co-operation of two or more organizations, substances or other agents to produce a combined effect greater than the sum of their separate
  2. Synergy for innovation- building of partnerships synergies that will lead to development of new
  3. Partnership benefits- refer to those benefits that accrue to business partners as a result of their working

Concept

 

A partnership is an arrangement where parties, known as partners, agree to co-operate to advance their mutual interest. The partners in a partnership may be individuals, businesses, interest based organizations, schools, government, or combinations.

Organizations partner to increase their likelihood of each achieving their mission and to amplify their reach.

Smart specialization strategies (S3) play a key role in fostering efficient and inclusive innovation.

 

Benefits of partnership of enterprises

 

  1. Agility and momentum- in many instances, startups are able to operate with more agility than corporate

This proves especially beneficial when corporate partners need to move quickly through product prototyping, development and deployment.

 

  1. Access to emerging technology start up enterprises will have access to and utilize the technological advancements to produce next-generation products and services. With direct access to new and emerging technologies, corporate have the firepower needed to create industry leading products and services of their own.
  • Better customer experience

The right start up will help your business deliver a better customer experience more and more business are prioritizing the customer experience in the quest to dominate their respective industries.

  1. Access to new markets and verticals- when corporate want to disrupt new markets or verticals partnering with a startup is the way to go

This is because the startups can provide the corporate partner with all the insider intelligence and insights needed to accelerate their go to market strategy.

  1. Product validation- Lastly, corporate leaders can use startups as a sounding With the help of a leading start-up, test and validating products or services in a controlled environment allows corporate to build more robust and customer oriented solutions.
  2. Partnership for innovation- The best innovation teams don’t work alone. They bring in partners from different backgrounds, countries and even industries to help provide fresh thinking of ideas. The process of finding and forging partnerships and collaborations however is not easy to do well.
  • The ‘test and learn’ partnership model- An organization identifies a problem and then sets out to hire a vendor to provide a

 

Innovation teams do not have specific, concrete problems to explore. So the best internal innovation teams start by testing potential partners first before getting down to business. So they find the right talents who can work on solutions together. Great innovators use this ‘test and learn’ approach for partnerships. No matter how big or small their company is.

 

Conclusion

Synergies development for innovation results into mutual benefits to all the concerned institutions or rather organizations. In essence it eliminates unnecessary competitions that make organizations loose at the end. They embrace the old saying ‘let’s work together as brothers or perish together as fools’. They do work for the overall good of business in the industry.

 

  • Self-Assessment

 

  • An arrangement by parties , partners with mutual interest is called
  1. Collaboration
  2. Synergy
  3. Partnership
    • Define the following terms
  4. Synergy
  5. Innovation
  6. Partnership
    • Discuss the benefits of partnership in business?

 

  • What are some of the disadvantages of business partnership?
  • What factors should one consider when identifying opportunities for business partnership?
  • What are the features of collaboration partnership for innovation
  • Discuss the impact of partnership in business innovation?
  • Identify companies within your locality that have embraced partnership for increased synergy and the resultant gains by these firms
  • Define synergy and partnership benefits
  • Describe partnership for

 

 

  • Tools, Equipment, Supplies and Materials

 

  • Computer
  • Device
  • Internet connectivity
  • Stationery
  • Case studies

 

  • References (APA)

 

  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations( 10th Edition), Prentice Hall
  2. Fraser Seitel( 2010). The practice of Public Relations( 11th edition), Prentice
  3. David Guth, Charles Marsh, Allyn and Bacon( 2008). Public Relations: A values Driven Approach (4th Edition), Boston

 

  • Learning Outcome Develop and implement rebranding strategies
    • Learning Activities

 

Learning Outcome LO6. Develop and implement rebranding strategies
Learning Activities Special Instructions
1.      Trainees to visit nearby firms and assess the rebranding that have been done over the years.

2.      Using different known brands, analyze the effects that have resulted out of the rebranding strategies adopted.

 

3.      Invite a brand manager from a reputable firm nearby the institution to give to trainees a discussion on rebranding strategies.

 ·         For analysis of different known brands, trainees may visit a supermarket that is nearby the institution.

·         Also talking to brand managers could be beneficial.

 

 

  • Information Sheet No1/6

Introduction

Rebranding is an essential strategy where organizations aim at redefining itself in the market place. Rebranding gives a new life or image to a company and its products or services. A proper rebranding should be done using a SWOT analysis by analyzing the current brand strengths and weaknesses and work towards exploiting the available opportunities and eradicating the possible threats. In so doing, the company rebuilds its corporate image and gains a competitive image at the market place

 

Definitions

Rebranding-Is a marketing strategy in which a new name, term, symbol, design concept or combination thereof is created for an established brand with the intention of developing a new differentiated identity in minds of consumers, investors, competitors and other stakeholders.(Wikipedia.org)

SWOT analysis-An acronym for Strengths, weakness, Opportunities and Threats. Strengths and Weaknesses are influenced by internal forces while opportunities and threats emerge from external forces/factors.

 

Content

Rebranding can be applied to new products, mature products or even products still in development. The process can occur intentionally through a deliberate change in strategy or occur unintentionally from unplanned, emergent situations such as a `corporate restructuring’. Rebranding can also refer to a change in a company/corporate brand that may own several sub brands for products or companies.

Corporate rebranding: this is mostly done to shed off a negative image. Muzzellec and Lambkin (2006) found that whether a rebranding follows from corporate strategy or constitutes the actual

 

marketing strategy, it aims at enhancing, regaining, transferring and /or recreating the corporate brand equity. Marketing develops the awareness and associations in consumer memory so that customers know (and are constantly reminded) which brands best serves their needs.

 

Rebranding plan

Carry out a SWOT analysis to prepare an effective rebranding plan. A good effective plan should aim at addressing the following:

  • Differentiation from competitors- Differentiation from the competitors is important in order to attract more customers and is effective to draw more desirable
  • Elimination of negative image organizations may rebrand to intentionally shed of negative images of the

 

Lost market share

Brands often rebrand in reaction to losing market share .In some cases companies try to build on any perceived equity they believe still exists in their brand e.g. When Steve Jobs returned to Apple Computers so that the company would have customer permission to sell other products such as iPod and iPhone. In addition, the new brand came with a new theme line that said, `Think Different.’ In time, Apple has become the world`s most valuable company.

 

Emerging issues

Rebranding may also occur unintentionally from emergent situations such as corporate restructuring or through bankruptcy.

 

Staying relevant

Companies also choose to rebrand to remain relevant to its customers and stakeholders. This could occur when a company`s business has changed, for example its strategic direction and industry focus or its brand no longer fits its new customer, a company may rebrand in order to fit in a new market out of culture, customs or language of new target customers.

 

Monitoring and Evaluation

The new brand should be monitored to ensure that it meets the company’s intended plans. Any sign of negative effect should be modified in time to avoid create a bad image/ reputation

  • Evaluation helps in improving the brand to be better than previously This should be based on collected information from the customers.
  • The rebranding plan should be within the company’s financial ability and within the

 

Conclusion

A company’s brand image is an important aspect to the public. This ensures sustained competence in the market today and maintenance of reliance at the market place. For an effective rebranding enterprises have to analyze the current brand strengths and weaknesses. This will enable the organization to exploit emerging opportunities as well as work on minimizing or eradicating threats. Rebranding is one of the factors that organizations use to build a competitive advantage strategy toward the performance of a certain market. This

 

ensures the corporate image is reinforced and the company will gain a competitive edge and increase its market share.

 

  • Self-assessment
    1. Define the following terms
      1. Rebranding
      2. SWOT analysis
      3. Corporate rebranding
      4. Rebranding benchmarks
    2. Discuss the various benefits of rebranding?
    3. What factors should one consider when benchmarking key performance indicators for rebranding purposes
    4. Highlight the key components to be included in a rebranding budget?
    5. Describe some of the activities to undertake in monitoring and evaluation of rebranding in a company
    6. Prepare a rebranding plan based on the analyzed current brand status
    7. Is the trainee able to identify the brand parameters to use when benchmarking against peers in the industry?
    8. Explain how rebranding plan is formulated based on SWOT analysis
    9. Discuss how corrective action was implemented as per corporate image policy by a local brand of your
  • Tools, Equipment, Supplies and Materials for the specific learning outcome
  • Computer
  • Digital device
  • Internet connectivity
  • Stationery
  • Case studies

 

  • References
  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations (10th Edition), Prentice Hall
  2. Fraser Seitel( 2010). The practice of Public Relations (11th edition), Prentice Hall
  3. David Guth, Charles Marsh, Allyn and Bacon( 2008). Public Relations: A values Driven Approach (4th Edition), Boston

 

  • Learning Outcome Initiate international/global business opportunities
    • Learning Activities

 

 

Learning Outcome LO7. Initiate international/global business opportunities
Learning Activities Special Instructions
·         Visit a major firm within your locality or county and then brainstorm to select global business opportunities that the firm may engage in

·         Invite a manager of a business to discuss Benefits of global business

Global trade policy and procedures

 ·         Visit    firms    that            have international linkages

·         Use of resource persons

/managers of international firms

 

  • Information Sheet No1/6

Introduction

A company’s global trade policy is structured by the top management. It’s essential to collect and analyze objective data before entry into the international market. A feasibility study will enable an enterprise to make informed decisions. Before global expansion is effected its necessary to equip yourself with all important information as regards the political, legal, economical, socio-cultural and technological factors that will influence the success of the business in the international market. The main advantage of doing business globally is to capture a large market share and increase on acquisition of new ideas.

 

Definition of Key Terms

  1. Global Trade – this involves the import or export of goods and services between two or more different countries
  2. Feasibility Study– A study that is carried out at the onset to determine whether a plan should be executed. It acts as a pilot test before implementation of a plan.
  3. Global trade Policy– A policy that has been put in place by the management of a business enterprise to guide when making decisions for global expansion.
  4. Strategic Plan– A plan by the top management of an enterprise that involves major decisions g. expansion to other countries, development of mission and vision, diversification strategies etc.

 

Content

Global trade policy

A global trade policy is developed in accordance with strategic plan. The strategic plan gives directions on expansion of activities to different international countries.

 

Importance of carrying out a feasibility study

  1. To identify the competition that the firm will face on expansion to a new country
  2. To identify the country’s legislation as regards to business from other countries g. registration, licenses, taxation etc.

 

  • To get acquitted to the socio-economic cultural beliefs and practices of the people where the new business opportunity is to be carried out.
  1. It minimizes conflicts between individuals, organizations with the new organization on arrival
  2. To get acquitted to sources of raw materials, labor and the costs attached to these factors of

 

Benefits of international global trade

  1. Expanded market opportunities –results to a wider market that the organization sets out to
  2. New opportunities –Creates new opportunities for a business. International harmony – creates unity among member of different countries.
  1. New ideas and innovation- Expansion into the global market promotes the acquisition of new ideas and provides a ground for innovation.

 

Monitoring of implemented opportunities;

Opportunities which are selected and implemented should be monitored to ensure their success. When monitoring the opportunities consider the following factors;

  1. Any changes that may emerge from time to time due to currency exchange, fluctuations, tax legislations that affect the type of business extended to the other
  2. Any political changes that may positively or negatively affect your business in outside country
  • Technological changes that may affect the business while working in an outside country
  1. Socio cultural beliefs and practices that may be affecting the success of the business operations in an outside country

 

Conclusion

Expansion into new markets outside the company’s area of jurisdiction is critical for businesses that intend to explore new markets and increase their revenues and ultimately the profits. In doing so, a feasibility study is essential so as to equip the enterprise with all the issues that may arise upon entering into the new markets abroad. This area also tries to show the policy guiding the entry of a new market.

 

6.3.8.3.  Self-Assessment

  1. The following are required in implementing global trade opportunities which one is not ?
    1. Resources
    2. Personnel
    3. Trade policy
    4. Business name
  2. One should consider the following factors when conducting global trade feasibility study except

 

  1. Political situation
  2. Economic situation
  3. Environmental situation
  4. Countries Population
  1. Define the following terms
    1. Feasibility study
    2. Global trade
    3. Global trade policy
  2. Explain the importance of carrying out feasibility study before initiating a global trade?
  3. What factors should one consider when initiating a global/international trade?
  4. What components are critical in developing global trade policy for a business
  5. Carry out a feasibility study to identify international trade opportunities
  1. Select and monitor opportunities that may arise from engaging in global business
  2. What is feasibility study and its importance?
  3. What factors are considered before implementing business ideas abroad?

 

  • Tools, Equipment, Supplies and Materials for the specific learning outcome
  • Computer
  • Device
  • Internet connectivity
  • Stationery
  • Case studies
  • Case studies

 

  • References
  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations (10th Edition), Prentice Hall
  2. Fraser Seitel( 2010). The practice of Public Relations (11th edition), Prentice Hall
  3. David Guth, Charles Marsh, Allyn and Bacon( 2008). Public Relations: A values Driven Approach (4th Edition), Boston

 

 

 

  • Learning Outcome Manage Corporate Image through Media
    • Learning Activities

 

 

Learning Outcome LO8 Manage Corporate Image Through Media
Learning Activities Special Instructions
·            Preparation of virtual platform (WhatsApp groups, Facebook, twitter pages , Instagram use to manage corporate image through media

·            Invite a company corporate /public relations manager to highlight to trainee the methods used to manage corporate image through media

 ·      Provide the internet connectivity and computers for preparation of this virtual platforms

·      Organize the invitation of the personnel involved

 

  • Information Sheet No1/6

Introduction

Virtual platforms are a new emerging force to compliment the mainstream media. Such platforms such as Facebook, WhatsApp, twitter, YouTube among many other that have greatly enhanced the interactions between the corporate management and the stakeholders. The major benefit of the virtual platforms is that they enable a quick response from the corporate management. Media is a strong factor in building of a successful corporate through creation of a positive image. Most virtual platforms use the connection of the internet therefore most platforms are usually online.

 

Definition of Terms and Content

  1. Virtual Platform -refers to social media applications that promote interactions between individuals and groups through internet connectivity, such as Whatsapp, Facebook, twitter and Instagram accounts.
  2. Mainstream media –refers to the media platform that access a majority of persons in a locality or country g. use of television radios, films and print media.
  3. Corporate image is synonymous to the perception of the company in the minds of

 

Content

Virtual platforms in the management of corporate image;

Social media influences the corporate identify management process in a multitude of ways and changes the underlying logic of the process. Successful identify related social media management processes resemble the characteristics of the organization and environment social

 

media changes the entire operations logic of corporate identify management by making it receptive and corporation in nature.

 

Volmor (2010) ascertain that using social media effectively in corporate identify management can help a company brand become more real in the eyes of the consumers by giving it a social voice. Social media sites can function as a channel for interaction between companies and customers by helping to transmit company brand values to enhance brand attractiveness and attract customer attention (Lin and Lu, 2011).

As companies begin to realize the value of the internet and social media as an essential component of corporate communication, they are beginning to leverage alternative marketing practices that are more cost effective and more efficient at engaging with consumers compared to traditional advertising channels (Castronovo and Huang, 2012)

Social media is defined as the online communication environment where all users have the opportunity to be active in communication and produce of content in addition to being the recipient of information.

Social networking sites are applications enabling users to connect by creating personal profiles inviting friends and colleagues to have access to those profiles and sending messages between each other.

Brand communications emerge from use of social media. Brand community is a group of ardent consumers organized around the life style activities and those of the brand. Brand communities provide a platform through which consumers can share information and experience regarding a certain product or service.

 

Conclusion

From the above organizations should effectively use the virtual platforms as a faster means of communications to the outside world. The key policies and procedures guiding the use of virtual platforms or rather social media channels should clearly adhere to.

 

  • Self-Assessment
    1. Which of the following is not an example of virtual platform
      1. Emails
      2. Twitter
      3. Facebook
      4. You Tube
    2. Virtual platforms and mainstream media are critical components in increasing positive image of a True / False
    3. Define the following terms
      1. Virtual Platforms
      2. Mainstream media
      3. Brand communication
    4. What consideration should one have when selecting virtual platforms for a company?
    5. Explain the importance of training virtual platform personnel
    6. What risks does virtual platform and mainstream media pose to growth of businesses?

 

  1. Open different accounts (Facebook, WhatsApp, twitter, Instagram ) and form groups that enable interactions between different stakeholders.
  2. Identify the mainstream media used to promote corporate image of companies in your

 

  • Tools, Equipment, Supplies and Materials
  • Computer
  • Projector
  • Mobile phone
  • Tablet
  • Internet connectivity
  • Stationery

 

  • References
  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations( 10th Edition), Prentice Hall
  2. Fraser Seitel( 2010). The practice of Public Relations ( 11th edition), Prentice Hall
  3. David Guth, Charles Marsh, Allyn and Bacon( 2008). Public Relations: A valuesDriven Approach (4th Edition), Boston

 

 

 

  • Learning Outcome Undertake periodic corporate Image review and rebrand
    • Learning Activities
Learning Outcome LO9: Undertake periodic corporate Image review and rebrand
Learning Activities Special Instructions
·         Visit a major firm operating within your locality and find out the rebranding strategies they use as well as the procedure of carrying out the rebranding process

·         Invite a resource person to highlight to trainees the benefits that firms accrue from reviewing corporate image components as well as benefits of corporate

rebranding

 ·                     Operationalize the visitation activity as well as personnel invitation

 

  • Information Sheet No1/6

Introduction

Engaging in periodic corporate image review and rebranding is critical in ensuring the company remains relevant into the future. It works in increasing the company’s competitive edge and re-adjusts any negative perceptions that key stakeholders may be having on the enterprise. Rebranding redefines the company, its products and services in the market creating a larger market share thus resulting into a sustainable growth of the business.

 

Definition of Terms

Corporate image components: these includes corporate identity, corporate communication and feedback

Corporate identity: is the reality of the corporate unique, individual personality that differentiate it from other companies

Corporate communication is the aggregate of sources, messages and media by which the corporation convey its uniqueness or brand to its various audiences

Corporate image is in the eye of the beholder the impression of the overall corporation held by its several audiences

Rebranding strategy: The act of changing the current brand e.g. by changing the name graphics logos etc. in order to give a new corporate image to the publics

 

Content

Reviewing corporate image component

Corporate image is the reputation of the firm by the various audiences that are important to it. The principal stakeholders with whom most large corporation must be concerned with are: customer distributions and retailers, financial institutions and analysts, shareholders, government regulatory agencies, social action organizations, the general public and employees. Companies’ sales and profit decline when a customer develops a negative perception about a company or its products.

Reviewing corporate image components is important because of the following reasons:

 

  • Customers will continuously support the company and its products
  • Corporations can gain access to financial assistance as need may arise from time to time
  • Ensures good working relationship with regulatory agencies g. tax bodies, county and national government etc.
  • Enhances community acceptance of the company and its products
  • Promotes employees satisfaction with a company that has a good corporate image
  • This ensures that components employees are attracted and retained

 

The following steps can be applied in carrying out rebranding process

 

  1. Start with the business reason. Any rebranding strategy should start with a thorough understanding of the business reason behind the rebranding. Is it driven by a need to accelerate growth? Does your firm need to corporate with large , more established completion/
  2. Research on your firm and your target clients
  • Carry out an independent research on your firm and clients; the goal is to have an objective understanding of your current brand perception and competencies. Without objectives research, you are likely to build a brand on false
  1. Use positioning and messaging to capture your brand
  2. Balance who you are as a firm and who you want to become

 

  1. Build your brand identity

 

This is part of the rebranding strategy where you develop the visual elements that will communicate your brand. Think firm name, logo, tagline, colors, business card design, stationery and the like.

Building your website and online services is your single most important communication and business development tool.

Brand building plan helps to develop a plan to promote and strengthen your new brand. How will you launch it internally? It is essential that the employees embrace the new brand.

The brand in a way that they will communicates your firm’s reputation and expertise as well as its name.

 

Conclusion

Monitoring and evaluation ensures that the current corporate image is evaluated so that any necessary changes are made to maintain or enhance the corporate image of organizations. This is essential in order to maintain a good image with all the company’s key stakeholders’. A monitoring and evaluation team should report their results to the corporate management for action to be taken.

 

  • Self-Assessment

 

 

  1. When customers perception on a product changes to negative a good manager should consider
    1. carrying out feasibility study
    2. Rebranding
    3. Public relations

2.

  1. Define the following terms Corporate communication Rebranding Strategy
  2. Why is it important to review corporate image components?
  3. What process should one adhere to when conducting rebranding for a company
  4. What is the importance of reviewing corporate image?
  5. Open different accounts (Facebook, WhatsApp, twitter, Instagram etc) and form groups that enable interactions between different stakeholders.
  6. Identify the mainstream media used to promote corporate image of companies in your locality
  7. Describe components you will use in developing a rebranding strategy for your institution?
  8. Illustrate how an organization of your choice undertook corrective action (Observation)

 

 

  • Tools, Equipment, Supplies and Materials for the specific learning outcome
  • Computer
  • Digital device
  • Internet connectivity

 

  • Stationery

 

  • References
  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations (10th Edition), Prentice Hall
  2. Fraser Seitel( 2010). The practice of Public Relations (11th edition), PrenticeHall
  3. David Guth, Charles Marsh, Allyn and Bacon( 2008). Public Relations: A values Driven Approach (4th Edition), Boston

 

 

  • Learning Outcome 10. Monitor and evaluate corporate image
    • Learning Activities
Learning Outcome #No 10 Monitor and evaluate corporate image
Learning Activities Special Instructions
·         Visit a reputation firm within your locality obtain stakeholder , feedback, evaluate corporate image and make recommendation on corrective actions to be undertaken

·         Prepare and share corporate image report based on

your findings in question above

 ·         Organize the visitation activity for the local firm

 

  • Information Sheet No 6/LO10

Introduction

Corporate image is an essential aspect to most organizations. Companies must protect their corporate image to the general public and be able to give a positive outlook of the general view of the organization. Monitoring and evaluating of this corporate image is an important act to enable organizations understand their position on how the public view or rate them.

 

Definition of Key terms

  1. Stakeholder’s feedback- the perception or responses obtained from people who have an interest on the the response so obtained should be able to assess the perception they hold about the company
  2. Evaluation of corporate image – an assessment from the stakeholder about their held perspectives about the company
  • Corporate image report – a report prepared detailing the stakeholder perception of the company

 

Content

Obtaining stakeholder feedback

This can be done through collecting views from various stakeholders, employees, customers, suppliers, the general public and government agencies etc. The following methods can be used to collect data on corporate image from the stakeholders

  1. Observation methods
  2. Interview method
  • Use of questionnaire
  1. Analysis of media reports both form social media and mainstream a data
  2. Evaluating corporate image
  3. An assessment of the corporate image is done using the data collected from The analysis should be done objectively to determine the stakeholder’s perception of the company.

 

  • A sample that is representative of all the stakeholder will give objectives results on the stakeholders perception of the company
  • Undertaking corrective actions and preparing and sharing corporate image report.
  1. The management should be informed of the results upon evaluation so as to institute corrective This helps to create a better image among all its stakeholders.
  2. A conclusive report detailing the strength and weakness identified should be This will provide an opportunity to the management to take appropriate actions e.g rebranding, modify certain strategies to boost its corporate image.

 

Conclusion

Monitoring and evaluation involves the art of ensuring there is adherence to plans and instituting corrections where necessary. Monitoring and evaluation of corporate image helps in ensuring the corporate image remains relevant for sustainability. Evaluating corporate image enables organizations to rethink on ways to better the corporate image

 

  • Self-Assessment
  1. The following are used in obtaining stakeholders feedback which one is not?
  2. Observations
  3. Advertisement
  4. Interviews
  5. Opinion polls
  6. Online sharing and websites are very important components for enhancing corporate True /False
  7. Explain the importance of evaluating corporate image?
  8. What are some of the corrective measures a company can undertake to boost its corporate image
  9. How can a manger share corporate image reports
  10. Identify a company within the locality and identify areas that require improvement in the brand image of the company
  11. Propose changes that will in effect rebrand the company to positively change the corporate

 

  • Tools, Equipment, Supplies and Materials for the specific learning outcome
  • Computer
  • Digital device
  • Internet connectivity
  • Stationery

 

  • References
  1. Glen Broom (2008). Cutlip and Center’s Effective Public Relations (10th Edition), Hall
  2. Fraser Seitel( 2010). The practice of Public Relations (11th edition), Prentice Hall
  3. David Guth, Charles Marsh, Allyn and Bacon (2008). Public Relations: A values Approach (4th Edition), Boston
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