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Corporate Social Responsibility always adds value to the brand Essay Example

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Corporate Social Responsibility always adds value to the brand

This is because these stakeholders are usually vested in ensuring that their brands remain in the minds of present clients as well as potential customers. For brands to be marketable in Western nations today, they have to be linked to some type of socially conscious agenda. Organisations can no longer create interest by defining their brands in terms of their functions or abilities; they also have to include culturally related, environmentally-related, or socially-related statements in their marketing messages in order to attract customers- while also retaining the ones they have.For the most part, in past years, tangible assets were perceived as being the major source of transactional business value. These assets included land, financial assets like investments, manufacturing assets, and even building structures. Even though the market remained cognisant of the fact that there were intangibles assets that were possibly of more value, the true value of the intangibles could not be quantified; and so they were disregarded. Brands, for example, defined corporate success; however, because marketers could not determine how best to capitalise on them in order to attract more customers, they were mainly disregarded (Hull and Rothenberg 2008). More than a decade ago, business organisations were quite aware of the significance of their brands, as could be deciphered through their creation of the position of brand managers. However, in regards to the stock market, stock investors considered tangible assets as being the main source of value assessment.A business’s reputation essentially comprises of its stakeholder’s assessment of it over a definite period of time (Lockett, Moon, and Visser 2006). This assessment will comprise of the stakeholder’s familiarity with the organisation’s behavior along with the images that the organisation has built (Sotorrio and Sánchez 2008). A good image basically comprises of qualities of an organisation that have to do with its manufacturing processes, merchandized goods, leadership styles and corporate objectives, financial performance, environmental responsibility, engagement initiatives with workers, and emotional appeal to the public. These factors may be adjusted over time so as to reflect any subtle changes that occur in the surrounding community. Just two decades ago, the most important factors for an organisation’s image were considered to be its financial records

References

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preview essay on Corporate Social Responsibility always adds value to the brand
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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