In the world of the internet where organizations are under constant public scrutiny, protecting the corporate company’s reputation and sending out the right communication messages is very vital for their survival in the online world. From crisis management to corporate social responsibility, communication plays an important part in all business strategies and Companies with good reputations are able to attract stakeholders like customers, investors and quality employees. Therefore, business houses are giving more importance to building, maintaining and protecting a good corporate reputation to stay ahead in the race. The definition of Reputation Management and corporate communication is that corporate communications is something like traditional public relation, which is strategic with focus on organizational and external communications whereas corporate reputation management manages and guides the stakeholders on how well an organization meets its customer requirements.
Corporate reputation management of a company is based on the past, current and future actions of the company and it needs a collective representation based on the stakeholders opinion and a holistic approach to negative, positive and neutral impressions. Corporate reputation is shaped by a combined effort of public relations, corporate communication and behavior like managerial credibility, ethics, customer relations and corporate sustainability. Corporate communications usually adopts strategic and integrated approach, which focuses on various external communication channels by engaging stakeholders and informing them of the various strategies and issues. Corporate communications portrays the best image of the company by informing, persuading, exploring various views and opinions, implementing changes and negotiating which is the fundamental tool of corporate reputation management. The fundamental purpose of corporate communications is to persuade and influence opinions largely using online and traditional media to create a favorable perception.
The modern day corporate communication for reputation management involves three main functions like organizational communications, Management communications and Marketing communications. Some of the tools used for Reputation Management and corporate communication are Corporate advertising, Risk analysis, Strategic issue management, Intelligence gathering, Social media engagement, Social media monitoring, Events and sponsorship, Community relationship, comments, features, articles, third party endorsements, Internal communications and employee engagement, Social marketing, Co-branding and Monitoring customer services. Corporate communication involves creating and shaping different opinions and influencing main stakeholders’ views in the online platforms and use social media to shape social influence.