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Corporate reputation management-reality or spin?
March 9, 2005
 
Our starting point -source of clarification
•Underlying assumption
 –Commercial institutions (companies) contribute to the functioningand wellbeing of society –As social ‘actors’ companies formulate their actions based on theexpectations of other members of society
•More than just an organization engaged in business
 –‘The limited liability joint-stock company is a distinct legal entity (sodistinct, in fact that its shareholders can sue it) endowed bygovernment with certain collective rights and responsibilities’ (TheCompanies Act of 1862)
•It is the company’s performance of these collective rights andresponsibilities that can so often be the focus of stakeholderinterest.
 
Two dimensions of corporate action
•“Legal-rational”
 –Has been acknowledged in economic organizations (Weber, 1947),and complements
•“Effective-emotional”
 –The ‘reinforcing network of factors that helps companies build strongand favourable reputations with their principal constituencies’:acompany’s credibility, reliability, responsibility and trustworthinessFombrun(1996) .
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