Corporate Branding and Corporate Reputations †MyAssignmenthelp

Question: Discuss about the Corporate Branding and Corporate Reputations. Answer: Introduction: Samsung is a South Korean multinational corporation. Its headquarters is situated in Samsung Town, Seoul. Under this brand name, numbers of business are associated and this is also known as the largest business corporation in South Korea. Company was founded in 1938 and initially it was diversified in three areas i.e. textile, food processing, securities, insurance and retail. Later on, Samsung entered into consumer electronics market which turned as the crucial factor in terms of the companys success and growth (Samsung Electronics, 2018). Organizational structure of Samsung Corporation is divisional and it is divided into three sub-categories i.e. IT Mobile Communications, Device Solutions and Consumer Electronics Goods. Primary objective behind adaptation of the divisional organizational structure is large product portfolio. Apart from this, organization delivers various products and services which is another crucial factor for adaptation of divisional organizational structure (Jones Jones, 2010). Samsung Corporations mission is focusing over emerging markets and setting up their effective brand image in those markets along with acquiring the leading position. Its primary competitor is Apple Inc. and in order to gain competitive advantage, organization has adopted various effective and advanced strategies so that they could become the leader of the target market till 2020. Samsungs mission statement is inspire the world, create the future and it is their vision which needs to acquired till 2020. In relation to their vision, they have adopted various strategies such as innovation, introduction of advanced products, etc. Apart from this, organizations another vision is to reach to the $400 billion revenue mark by 2020 (Singer, 2011). In relation with the adaptation of the code of ethics and best practices in the workplace so as to attain its desired goals and objectives, organization has decided to execute their functionalities in an effective manner by following all types of laws and regulations of all countries in which company exists. Apart from this, organization has developed and implemented global personal data security policies in relation with keeping personal information of its customers and employees safe and secure. Samsung has developed a department which manages all the ethical risks and other factors according to the Samsung Global Code of Conduct and the Business Conduct Guidelines. These considerations have been conveyed to each and every member of the organization so that these could be followed in an effective and efficient manner (Soo, 2014). Ethical Business Strategies In relation with increasing the organizational effectiveness, they have adopted various ethical business strategies. Samsungs code of conduct policies i.e. Samsung Businesses Principles include numerous policies related with the companys customers, suppliers, and for stakeholders. These policies provide a channel to report against any violation regarding ethical standards. Company have developed a separate website which focuses over ethics management. Company has conveyed this information to its stakeholders, customers and suppliers using internal communication strategies so that they could raise their voices in exploitations related scenarios. With the help of this practice, organization would be able to make effective relationship with them (Wambui, 2013). Corporate Legal Office of Samsung operates under the control of CEO regulates Privacy Steering Committee and Compliance Team. This has been done to improve the compliance management and both these teams help the top level management in decision making process. Organization is operating in various countries and in order to make their processes smooth and effective, they have included the laws and regulations of every country in their policies and code of conducts in terms of avoiding the chances of glitches in their functionality. This has helped the organization to develop an effective image in the marketplace along with attaining desired goals and the objectives (London Hart, 2010). Compliance management, privacy legal management system and other measures have also been included in the ethical business practices of organization which has increased the effectiveness of the organization along with the increasing the opportunities for acquiring leading position in the global market. Following are certain crucial ethical business practices which help to save stakeholders interest at national and international level: Development and implementation of ethical standards: This is the first step under which code of ethics are being developed and implemented within the workplace so as to perform the functionalities in an effective manner (Mellahi, Morrell Morrell, 2010). Leader exhibit proper behaviour: It is necessary for every organization to develop and maintain effective organizational behaviour. Initiative needs to be taken from the top management so that lower level management and employees could follow the same. In this procedure, leaders play crucial role because they seems to be role model for employees. Leaders are required to adopt adequate code of ethics in their functionalities which will influence other employees to perform in the same manner. Enforcing policies: While imposing policies within the workplace, every aspect should be considered along with analysing all realistic scenarios. It is necessary to take reviews from employees in relation with the application of policies. This helps the organization to develop appropriate relationships with the employees and it is useful to take out the best from employees. With the help of these ethical practices, organization will be able to protect the interest of its employees, customers and other stakeholders at both national as well as international level. Ultimately, it will improve organizational functionalities which will impact over its overall performance. Efficiency of these practices could be measures by their effectiveness. Performing organizational functionalities in ethical manner is the most appropriate way to attain desired goals and objectives of the organization. Offensive/defensive strategies Companies use marketing strategies in order to accomplish its goals and objectives in relevance with the attainment of competitive advantage. These strategies are also used for defending and attaining competitive advantage in the market. Amongst these strategies, primary strategies are defensive and offensive. Role of offensive strategy is to keep secure organizational competitive advantage whereas defensive strategies are used for defending the competitive advantage of the organization (Yannopoulos, 2011). Defensive strategy of Samsung focuses on maintaining the competitive advantage and other achievements which are already attained. As a result, firms position in the market does not get affected. For instance, Samsung is a leading mobile phone brand in terms of Android operating system market. Thus, to maintain its position as well as to compete with the existing and with new entrants, they promote their products rapidly along with providing unique and various offers to its customers (Bear, Rahman Post, 2010). Offensive strategies are implemented with the objective to gain competitive advantage in the market. Samsung continuously invent new measures and features through which their products in order to gain competitive advantage as well as to showcase their product more effective and advantageous from its competitors. Effects of corporate reputation and ethical branding Branding is done to add value to the products and services as it promotes lifestyle and sets the benchmarks in terms of quality of the product, customer satisfaction capability, etc. Branding is considered as the social and economic construct and it seems beyond to the advertising and marketing strategies. While promoting the brand, companys core values should be considered because for creating a brand name, it takes several years while destroying the name requires one negative indent. For instance, Samsung was doing a great job in consumer electronic market but due to negative incident, organizations goodwill was affected in negative manner. This was when its effective Galaxy series S7 was launched. It was an effective phone for that time with great features but after sometime of its launching, organization gets several complaints regarding blast in phones. This decreases the value of the brand as well as brand loyalty of Samsung was also affected (Abratt Kleyn, 2012). Corporate reputation of Samsung is high as they are engaged in electronics market since a very long time and in their entire tenure, they have done various inventions and developments through they have made a positive image in the global market. Apart from this, their ethical policies and the standards are effective enough to protect interest of its customers, suppliers and other stakeholders. References Abratt, R., Kleyn, N. (2012). Corporate identity, corporate branding and corporate reputations: Reconciliation and integration.European Journal of Marketing,46(7/8), 1048-1063. Bear, S., Rahman, N., Post, C. (2010). The impact of board diversity and gender composition on corporate social responsibility and firm reputation.Journal of Business Ethics,97(2), 207-221. Jones, G. R., Jones, G. R. (2010). Organizational theory, design, and change. London, T., Hart, S. L. (2010).Next generation business strategies for the base of the pyramid: New approaches for building mutual value. Pearson Education India. Mellahi, K., Morrell, K., Wood, G. (2010).The ethical business: Challenges and controversies. Palgrave Macmillan. Samsung Electronics, 2018. About Us. Retrieved on 18th March 2018 from: https://www.samsung.com/us/aboutsamsung/sustainability/ethics/ Singer, P. (2011).Practical ethics. Cambridge university press. Soo, K. G. (2014). Building your company with strong vision platform.International Information Institute (Tokyo). Information,17(7), 3021. Wambui, E. (2013). Samsung Smartphone strategic marketing: analysis of Samsung Smartphone marketing strategy decisions and the consumer perception to the implemented strategies. Yannopoulos, P. (2011). Defensive and offensive strategies for market success.International Journal of Business and Social Science,2(13).