Conceptual approach to corporate reputation modeling

Abstract

Based on the proven influence of corporate reputation on the business performance and market value of the company, primarily through positive impact on the attitudes and behavior of consumers and key stakeholders, the attention of scientists and practitioners dedicated to the modeling and measurement of corporate reputation increased. Scientists have not yet reached a consensus about the theoretical framework for managing and measuring reputation. The main point of differences in approaches are constituents of reputation - what reputation comprises and what are the antecedents and consequences of reputation. The paper contains an overview of the contemporary theoretical models of reputation, systematized in three main conceptual approaches: concept based on social expectations, concept based on 'corporate personality' and concept based on trust. Cultural or geographical determination of the model has a significant impact on the type and importance of the elements comprising the construct of reputation. The scientific discussion about the validity of the application of the same model for measuring reputation in various countries and cultural environments resulted in the necessity of adaptation of the model in order to be valid and comparable. Therefore, the paper presents a model for measurement of corporate reputation in Serbia, which contains six basic dimensions associated with 23 attributes identified by empirical research.

Keywords

• corporate reputation
• corporate reputation models
• stakeholders
• consumers