BE/U1 Topic 9 Organizational Resources, Company Image
Organizational Resources represent all resources available to the organization and necessary for the performance of its activities. In this resource are included:
- Human Resources: represent all people (as well as their qualifications and capacities) that cooperate with the organization and are currently their main asset.
- Material and Technological Resources: include all of the equipments and tools used by the organization, the manufacturing and administrative facilities, technologies and processes used in the production and management, among many others.
- Financial Resources represent the monetary funds held by the organization (or the capacity to obtain them) and that can be used in the financing of the current activity or in the attainment of new investments.
- Market image and credibility abroad: represents the positioning of the organization and its brands, that is, what the consumers think about the goods or services produced by the organization.
Company Image is the perception held about an organization by the various stake holders in the company (like investors, customers, vendors & government), public and the society at large. It need not reflect the actual position but rather it is a view that the society has about the company. It is simply the impression that comes to the mind when one comes across the name of the company.
One of the onerous tasks on the field for marketing professionals is to project this image and thereby hit the target market. It can be done in various ways – by branding promotion, launching advertisement campaigns, interaction with media, communication with customers at different levels etc.
For example let us consider ITC which attempts to build an image of being a socially responsible company. Through its various initiatives like solid waste management, using energy from renewable sources, getting their hotels to be LEED® certified etc.
How to project a good company image?
So, how should you go about altering that brand image, or creating a new one from scratch? Let’s go over some of the basics…
(i) Create a recognizable, tangible brand
First thing’s first; in order to have any success with your company’s image you need to create a brand that is both identifiable and real – something that your customers will instantly recognize and connect with, encouraging them to seek you out whenever they’re thirsty, in need of financial advice, or looking for a new appliance. Think Coca Cola and you’ll no doubt hum the jingle to yourself, or find you’re very strongly drawn to the color red all of a sudden… Your character, and the personality and color scheme that you choose to assign to your brand are what will speak to the market, so you need to think big, or go home. A half-hearted effort at this point will do little to further your reputation, after all.
(ii) Think carefully about the language you use
It doesn’t matter how good your product or service is, nobody is going to look twice if your literature is sloppy, or your public presence is half-hearted. You don’t have to be a walking dictionary to succeed in business, but taking the time to prepare marketing material, online content, and speeches with the correct grammar and spelling will ensure you’re given a second look. Would you want to give your business to a company that hadn’t bothered to proofread its own marketing material first, or listen to a speech peppered with errors? The chances are your prospective clients wouldn’t either. Such care will ensure your company is always thought of in high regard; if you pay close attention to your wording, you’re likely to be very passionate about your product.
(iii) Consider the wheel that you’re behind
We said that image is everything and it really is; that includes the type of car you drive, too. You see, while you may think of it as a means of getting from A to B, the company vehicle you’re regularly seen in will say so much about you, both as an individual, and as the face of a company. Whether we want to admit it or not we’re rather good at judging people based on the wheels they park in front of their house or workplace, so imagine what prospective clients will think when they see that rust bucket taking up valuable curb space…
The good news is that you needn’t spend all of your company’s profits on a chauffeur driven limo, or the latest sports car to make a good impression – in fact, choosing an understated set of wheels can actually work in your favor. Think company car, think reliable, strong, and businesslike, such as a Mazda, or similarly trustworthy brand; you want your clients to know they’re in a safe pair of hands when they turn to you, and for them to view your car as symbol of your commitment to the job, rather than a status symbol.
There are, of course, other ways to project a good company image; watching your conduct when you use social media, paying attention to your clothing and accessories every day, and taking the time to network in order to further your business’s reach are just some of the additional ways that you can ensure your company goes places. Remember, image is everything; your company needs you.