Waters (2010) provides various definitions of organizational reputation as “the general estimation in which a person is held by the public,” “the state or situation of being held in high esteem” or “a cognitive representation of a company's ability to meet the expectations of its stakeholders.”
Just two days back, FORTUNE magazine released its annual list of the world’s most admired companies. Guess who made it to the top of the list for having the best reputation? Apple topped the list for the third year in a row!
A total of 667 companies from 33 countries were surveyed with more than 4,200 respondents, including executives, directors and analysts, who were asked to rate companies in their own industry on nine criteria, from investment value to social responsibility. According to FORTUNE magazine, the list represents an annual ranking of corporate reputation. This list of most admired companies will appear in the print edition of FORTUNE magazine on 22 March 2010, so check it out.
There must be multiple reasons why Apple has received this honor for the third time in a row. Apple does project an image that is true to the organization, it encourages interactions with stakeholders, it gives back to the community, it listens to its consumers, many people have emotional attachments to Apple, and the company seems to be concerned with long term success not just short term gains.
Waters (2010) says: "brand is your personality, but reputation is your real character." Apple has clearly paid attention to both brand-building and reputation-building. Why do you think Apple has the world's best reputation?
I think it may have a great reputation because it does so many good works throughout the world (like giving computers to underprivilaged children). I also think that it is due to product quality, innovation, and great branding. To trully build a great reputation one must think about the many variables that create a good reputation.
ReplyDeleteI think Apple builds products that just work for their consumers. That fundamental fact is such a strong basis for their reputation.
ReplyDeleteWell said, Eileen! I totally agree that there are many variables involved in creating a good brand - from the actual quality of one's product/service, to contributing to the community, to creating a strong brand image. Hats off to Apple for achieving all of these. : )
ReplyDeleteAbsolutely Rachel. If the product itself is really solid, that's what counts the most toward building a good reputation. Other factors like community service and customer service are important but secondary factors. : )
ReplyDeleteTheir good reputation can be seen at the Apple Store in Crabtree mall. God that place is always busy. I think with a great customer service and experience center like Apple's, it is hard for people to not fall in love with it. I mean, reputation and brand/products shall be integrated together. Just having good products is far from enough in the modern market.
ReplyDeleteExactly Jing - Apple has a winning combination of a great product and great customer service which equals to a great reputation! And yeah, I do feel Apple has made an effort to make its stores very welcoming - I like to walk into their store at SouthPoint Mall, it's so inviting. : )
ReplyDeleteIt is all about the product and Steve Jobs. The numerous applications that keep sprouting up from finding your car in the parking lot to voice recognition texting and e-mailing just makes the Iphone such a useful product and Apple the choice of brand. Of course the secrecy behind the product launches adds to the consumer expectations and excitement.
ReplyDeleteThat's a great point Suramya! The fact that Apple products are so innovative and user-friendly are definitely a contributing factor to the company's reputation. And of course, the product launches as you said, do create hype and buzz around the Apple brand.
ReplyDeleteKudos to Apple for hiring creative geniuses in its team!: )