1.
After reading the topic of
corporate reputation, summarize in your own words, three main takeaways from
the reading.
a.
Having strong branding is
very important in any companies
b.
Having sponsorships gives companies
an opportunity to create more publicity
c.
Authenticity is key
2.
What is corporate
reputation? Corporate reputation is the overall estimation
in which an organization is held by its internal and external stakeholders
based on its past actions and probability of its future behavior.
3.
Identify the best corporate reputation companies
(at least two) and explain what this company is doing (in terms of social
responsibility).
a.
LinkedIn’s non-profit initiative, LinkedIn
for Good, works with various organizations to connect underserved communities
to economic opportunity. They partner with youth training organizations, veterans' career services, refugee resource networks, and more.
Being
a social networking service, they also utilize their platform to provide
LinkedIn members with channels to participate in mentorships, donate time, and
find volunteering opportunities through their Volunteer Marketplace.
b.
The IKEA Foundation focuses
on the Circle of Prosperity — funding home, health, education, and sustainable
income for communities in need. As stated by the founder, their mission is to
“create a better everyday life for as many people as possible around the
world”. In 2017, the foundation’s Brighter Lives for Refugees campaign funded a
solar farm to bring renewable power to Jordan’s Azraq refugee camp. This is the
world’s first solar plant built in a refugee setting and will save $1.5
million, as well as reduce CO₂ emissions by 2,370 tons annually.
4.
Read the two case studies
and answer the following questions for each case study:
Hertz
a.
Review the Hertz website
and get familiar with the company and review ongoing social responsibility or
sustainability initiatives. Follow that up with some basic research of the area
(Tampa Metro area and Lee county) to identify major issues facing the people
and businesses in the area.
i. Tampa – Transportation
Hillsborough County will begin to see the first improvements in 2019 from the
transportation tax that county voters approved in November. More buses expanded
routes and road improvements are on the way - the first steps in a 30-year plan
to modernize the county's transportation grid. At the same time, a partnership
between intercity passenger operator Brightline and the Virgin Group is moving
to establish rail service between Tampa and Orlando, which ultimately would
connect commuters from the bay area to South Florida.
ii. Lee County –
Hackers have brought down Lee
County government's main website.
What are the pressing social
issues in the area? How is the government dealing with them?
· Flood insurance in
Tampa – Unless Florida can find a solution to skyrocketing flood
insurance rates, the economic ripple of people trapped in homes they can no
longer afford will be felt beyond the real estate market.
·
Congress adjourned earlier
this month without fixing the crisis it created in 2012 when it passed the
Biggert-Waters Act in an attempt to shore up the National Flood Insurance
Program. Starting Oct. 1, subsidies for homes built before federal flood maps
existed are being eliminated over the next five years, or immediately if a home
sold. The rates have been so outrageous in some neighborhoods that home sales
have been stopped cold. Now state lawmakers are suggesting Florida should
create its own private flood insurance market. But the quickest and surest way
to stave off the economic impact here and elsewhere in the country is for
Congress to delay implementation of the federal law and go back to the drawing
board.
b.
Look for synergies and
identify additional opportunities for local social responsibility activity for
Hertz-either in partnership with the city, county government, a nonprofit, or
community-based organization. Think at
least two ideas (potential social responsibility initiatives) that are related
to their core business that also provides an opportunity for employees and the
community to get involved.
i. How might you promote these initiatives? So, I think they could
partnership with meals on wheels. Or even just help volunteer for them. They can
help deliver food and promote their own business at the same time.
ii. How would you know these are succeeding (establish metrics)? I think
it would be successful because wheels on means is a nonprofit business and help
from other businesses would be good for them and as well as the companies that volunteer
for them
SNAP
a.
Suggest at least three
programs or sponsorship activities that the company should consider.
a.
Enhance business, consumer, and VIP relationships. Many
events will offer special opportunities to sponsors, such as exclusive
networking settings, VIP receptions, or outings with high-profile people in the
industry. You can take advantage of these events to meet key customers and
solidify business relationships, especially if you have a plan for following up
once the event is done.
b. Build brand awareness.
Sponsorships with in-kind products are often cheaper than traditional
advertising. If you choose your events carefully, it guarantees you an audience
that needs your products, unlike traditional media ads, which can be seen by
anyone. For example, a pet store owner who provides branded leashes for a local
kennel club's annual dog show knows their brand's name will be seen in action
repeatedly by their target customers.
c. Shape consumer attitudes.
Sponsoring events that your customers care about creates positive feelings
about your brand. If customers feel you care about the same things they do,
they are more likely to have a positive attitude toward your company.
b.
When thinking about these
ideas, consider how you might get the employees involved in volunteering and what
issues or community needs are of interest and apply to the company’s business? Honestly,
all you need to do is to make sure the company that to wants to get a sponsorship
with knows that you are truly interested in their product and whiling to do what’s
best for them.
c.
Suggest how the company might promote these activities
and their progress to gain the interest in the community.
a.
Have volunteers that can help with some events and give
out some stuff and will take people attention and interest of that certain company,
and make sure to advertise it online and around people for example billboards.
Sources:
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