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16 - Reputation and Corporate Sustainability
- from Part III - Corporate Sustainability: Processes
- Edited by Andreas Rasche, Copenhagen Business School, Mette Morsing, Principles for Responsible Management Education (PRME), UN GlobalCompact, United Nations, Jeremy Moon, Copenhagen Business School, Arno Kourula, Amsterdam Business School, University of Amsterdam
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- Book:
- Corporate Sustainability
- Published online:
- 09 March 2023
- Print publication:
- 30 March 2023, pp 315-333
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Summary
In this chapter, we examine the relationship between corporate sustainability and reputation. We show that sustainability in business moved centre stage in the reputation landscape and is a critical component that influences the overall reputation of a company. We start by introducing key terms, and by defining reputation alongside other related constructs such as identity, image and legitimacy. We then discuss Corporate Sustainability (CS) as an important part of a company’s reputation, and illustrate different ways in which companies engage in CS to enhance and protect their reputation. Specifically, we distinguish between walking and talking CS. Based on an overview of the involved risks and rewards, we advocate that companies ‘walk the talk’ and transparently communicate about and report on their commitments to, and progress on, substantial CS activities such as reducing their carbon emissions and enhancing worker welfare.
Corporate Social Responsibility
- Christopher Wickert, David Risi
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- Published online:
- 05 July 2019
- Print publication:
- 04 July 2019
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- Element
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This Element offers a thought-provoking and critical examination of corporate social responsibility (CSR). CSR has entered the boardroom and become a mainstream management concept for businesses to address their ethical, social and environmental responsibilities towards society. CSR does not come without contestation, and firms engage in CSR for different reasons and exhibit different patterns of CSR activities. These activities range from sincere action with substantial social or environmental improvements to symbolic impression management and the creation of a CSR-façade that is little more than empty words. This Element illuminates and scrutinizes contemporary approaches to CSR and offers a fresh perspective for scholars, managers and decision-makers interested in the societal role of business firms beyond maximizing profitability. Christopher Wickert and David Risi take a step back from how CSR is currently understood and practiced, and stimulate readers to reflect on how to move CSR forward towards a more inclusive concept.
Chapter 13 - CSR and Reputation: Too Much of a Good Thing?
- from PART III - COMMUNICATION AND CSR
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- By Christopher Wickert, VU University Amsterdam, The Netherlands, Joep Cornelissen, Rotterdam School of Management, Erasmus University
- Edited by Andreas Rasche, Copenhagen Business School, Mette Morsing, Copenhagen Business School, Jeremy Moon, Copenhagen Business School
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- Book:
- Corporate Social Responsibility
- Published online:
- 28 May 2018
- Print publication:
- 23 March 2017, pp 328-349
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Summary
Learning Objectives
• Learn why corporate reputation represents an important intangible asset and how to distinguish reputation from related constructs such as identity, image and legitimacy.
• Gain an understanding of how companies across industries manage their reputation in relation to corporate social responsibility (CSR).
• Gain an appreciation of how efforts to manage a reputation for CSR may be a double-edged sword; it may strengthen a company's reputation with stakeholders, yet it may also create increasing expectations about good conduct.
• Be able to critically reflect on, and analyse, more symbolic and rhetorical versus substantive and material approaches that companies take to manage their CSR reputation, that may create both opportunities and risks.
Introduction
When deciding to buy a product, what do people usually think of? Probably the price, the quality of the product, and maybe also whether they like the brand. Or would consumers also consider how well this company treats its employees, how ethical it is, and whether it shows environmental responsibility? As a matter of fact, most of us would probably relate to the former set of reasons (price and quality of the product and the brand). But, according to a recent study by the Reputation Institute (2015), people's willingness to buy, recommend, work for and invest in a company is driven about 60 per cent by their perception of the company – in other words by its reputation – and only about 40 per cent is driven by how people perceive the product itself or the price alone. Many firms, in particular global brands such as H&M, IKEA, Nike, Coca-Cola, McDonald's, Apple and the like often consider brand reputation their most important asset, besides other resources such as financial or human capital. For instance, H&M's reputation for being a fashionable but low-priced clothing brand has enabled the company to outperform its rivals for many years. Coca-Cola's reputation for being the global beverage of good taste and reliable quality has allowed the company to sustain its market share in the face of fierce competition.