Corporate reputation plays a vital role in organizational performance and social responsibility; it builds the society's confidence in an organization’s ability to balance between what is good for society and what is good for the marketplace. Employees increase their loyalty to a company that involves itself in activities that help to improve society and solve social problem.
Organizations show several characteristics in building corporate reputation; these include spending time and effort to shape and nurture an organization's reputation; execute specific strategies and programs, and engage in dialogue with their stakeholders to modernize their product offering. However, these characteristics are not consistent across stakeholders due to their difference in basic values, social and political structure, arts, and their key institutions.
As CEO of Coca-Cola company, I would develop clear strategies to improve performance, behavior, and communication; these are critical components of reputation. I would concentrate on a tactical and continuous management of reputation; creating advertising billboards that would raise the company rating. I would organize well developed information flow that would concentrate on relationships with customers. I would manage a constant reputation; modernize cooperation with stakeholders so that they could have no concerns about mutual work.
I think Coca-Cola's environmental initiatives are genuine and timely. For example, it supports several litter prevention organizations around the world. I believe that these initiatives are not only sincere but are also essential for high-quality environmental health.
Firestein, P. The Corporate Reputation, an electronic newsletter by, Peter Firestein, president of Global Strategic Communications Inc. Retrieved from http://www.firesteinco.com/reputation. Corporate Reputation Review: An International Journal, Henry Stewart Publications.