Relationship between corporate image and corporate reputation in Polish banking sector

Main Article Content

Danuta Szwajca

Abstract

Research background: Corporate reputation and image are two valuable intangible resources of the company, aimed at building its long-term competitive ad-vantage and market value. Although reputation and image are interrelated categories, they should not be identified with each other. The differences are not only in the definition and the character, but also in the mechanism of formation and tools to create these resources by the company. Image is a picture, perceptions and associations about the company in the minds of consumers, which may be created using the tools of PR and advertising in a relatively short period of time. Reputation is a review of the company and its activities, formulated by various stakeholder groups, on the basis of not only advertising, but also on the basis of the assessment of real activities of companies in the long term.


Purpose of the article: The cognitive objective of the article is to point out the fundamental differences between reputation and image on the basis of the analysis of approaches and theoretical concepts. The practical objective is to make an attempt to identify the differences and relationships between reputation and image on the basis of empirical analysis, therefore the research was conducted in the Polish banking sector.


Methods: In order to evaluate image and reputation, the survey method was used aimed at the customers of banks operating on the Polish market.


Findings & Value added: Reputation and image are two separate, intangible assets that support each other and the company needs each of them to build its competitive advantage. The results of empirical study allowed formulating the thesis that the banks, whose reputation is rated better by the customers, also have a better and more coherent image in their minds.

Article Details

How to Cite
Szwajca, D. (2018). Relationship between corporate image and corporate reputation in Polish banking sector. Oeconomia Copernicana, 9(3), 493-509. https://doi.org/10.24136/oc.2018.025
Section
Articles

References

Balmer, J. M. T. (1998). Corporate identity and the advent of corporate marketing. Journal of Marketing Management, 14(8). doi:10.1108/03090560610669964.
Barnett, M. L., Jermier, J. M., & Lafferty, B. A. (2006). Corporate reputation: the definitional landscape. Corporate Reputation Review, 9(1). doi: 10.1057/pal grave.crr.1550012.
Berens, G., & Van Riel, C. B. M. (2004). Corporate associations in the academic literature: three main streams of thought in the reputation measurement litera-ture. Corporate Reputation Review, 7(2). doi:10.1057/palgrave.crr.1540218.
Bernstein, D. (1986). Company image and reality: a critique of corporate commu-nication. Eastbourne: Holt, Reinhart and Winston.
Bravo, R., Montaner, T., & Pina, J. M. (2010). Corporate brand image in retail banking: development and validation of a scale. Service Industries Journal, 30(8). doi: 10.1080/02642060802311260.
Britt, S. H. (1971). Psychological principles of the corporate imagery mix: some of the guesswork can be overcome. Business Horizons, 14(3). doi: 10.1016/0007-6813(71)90118-2.
Brown, T. J., Dacin, P. A., Pratt, M.G., & Whetten, D. (2006). Identity, intended image, construed image, and reputation: an interdisciplinary framework and suggested terminology. Academy of Marketing Journal, 34(2). doi: 10.1177/0092070305284969.
Caputa, W. (2015). Customer capital in building company`s value. Warszawa: CeDeWu.
Cohen, R. (1963). The measurement of corporate images. In J. W. Riley Jr. (Ed.). The corporations and its publics. New York: John Wiley & Sons Inc.
Cornelissen, J. P. (2006). Metaphor and the dynamics of knowledge in organiza-tion theory: A case study of the organizational metaphor. Journal of Manage-ment Studies, 43(4), doi: 10.1111/j.1467-6486.2006.00607.x.
Cornelissen, J. P. (2002). On the "organizational identity" metaphor. British Jour-nal of Management, 13(3), doi: 10.1111/1467-8551.00242.
Crissy, J. W. (1971). Image: What is it. MSU Business Topics, Winter.
Dąbrowski, T. J. (2010). Corporate reputation. Creation of trust capital. Kraków: Oficyna a Wolters Kluwer business.
Dowling, G. R. (1988). Measuring corporate image: a review of alternative ap-proaches. Journal of Business Research, 17(1). doi.10.1016/0148-2963(88) 90019-7.
Figiel, A. (2013). Reputation in business management. A Marketing approach. Kraków: Wydawnictwo Uniwersytetu Ekonomicznego w Krakowie.
Fiol, C. M., & Kovoor-Misra, S. (1997). Two-way mirroring: identity and reputation when things go wrong. Corporate Reputation Review, 1(2). doi: 10.1057/palgrave.crr.1540035.
Foley, J. (2006). Balanced brand. How to balance the stakeholders forces that can make or break your business. San Francisco: Jossey-Bass.
Fombrun, Ch. J., & Foss, C. (2004). Business ethics: corporate responses to scan-dal. Corporate Reputation Review, 7(3). doi: 10.1057/palgrave.crr.1540226.
Fombrun, Ch. J., & Rindova, V. (1996). Who taps and who decides? The Social Construction of Corporate Reputations. New York University, Stern School of Business, Working Paper.
Fombrun, Ch. J., & Van Riel, C. B. M. (1997). The reputational landscape. Corpo-rate Reputation Review, 1(1/2). doi: 10.1057/palgrave.crr.1550012.
Forcadell, F. J., & Aracil, E. (2017). European banks' reputation for corporate social responsibility. Corporate Social Responsibility and Environmental Man-agement, 24(1). doi/10.1002/csr.1402.
Gray, E. R., & Smeltzer, L. R. (1985). SMR forum: corporate image – an integral part of strategy. Sloan Management Review, 26(4).
Ho, S. S., Li, A. Y., Tam, K., & Tong, J. Y. (2016). Ethical image, corporate social responsibility, and R&D valuation. Pacific-Basin Finance Journal, 40. doi: 10.1016/j.pacfin.2016.02.0020.
Hu, H. H., Kandampully, J., & Juwaheer, T. D. (2009). Relationships and impacts of service quality, perceived value, customer satisfaction, and image: an empirical study. Service Industries Journal, 29(2). doi: 10.1080/0264206080229 2932.
Jha, S., Deitz, G. D., Babakus, E., & Yavas, U. (2013). The role of corporate image for quality in the formation of attitudinal service loyalty. Journal of Service Research, 16(2). doi: 10.1177/1094670512466441.
Kaczmarczyk, S. (2011). Marketing research. Methodological basis. Warszawa: PWE.
Kończak, G., Trzpiot, G. (2014). Statistical methods using computer programs. Katowice: Wydawnictwo Uniwersytetu Ekonomicznego w Katowicach.
Kotler, Ph., Barich, H. (1991). A framework for marketing image management. Sloan Management Review, 32(2).
Lai, F., Griffin, M., & Babin, B. J. (2009). How quality, value, image, and satisfac-tion create loyalty at a Chinese telecom. Journal of Business Research, 62(10). doi: 10.1016/j.jbusres.2008.10.015.
Leiva, R., Ferrero, I., & Calderón, R. (2016). Corporate reputation in the business ethics field: its relation with corporate identity, corporate image, and corporate social responsibility. Corporate Reputation Review, 19(4). doi: 10.1057/s41 299-016-0008-x.
Lindgreen, A., Xu, Y., Manon, F. & Wilcock, J. (1012). Corporate social responsi-bility brand leadership: a multi case study. European Journal of Marketing, 46(7/8). doi:10.1108/03090561211230142.
Maldonado-Guzman, G., Pinzón-Castro, S. Y., & Leana-Morales, C. (2017). Cor-porate social responsibility, brand image and firm reputation in Mexican small business. Journal of Management and Sustainability, 7(3). doi: 10.5539/jms.v7n3p38.
Mann, B. J. S., & Ghuman, M. K. (2014). Scale development and validation for measuring corporate brand associations. Journal of Brand Management, 21(1). doi: 10.1057/bm.2013.22.
Martineau, P. (1958). The personality of the retail store. Harvard Business Review, 36(1).
Minor, D. B., & Morgan, J. (2011). CSR as reputation insurance: Primum Non Nocere. California Management Review, 53(3). doi: 10.1525/cmr.2011.53. 3.40.
Nawrocki, T. L., Szwajca, D. (2016). The concept of corporate reputation assess-ment model – the stock market investors perspective. In A. Kavoura, D. P. Sa-kas and P. Tomaras (Eds.). Strategic innovative marketing. Springer Proceed-ings in Business and Economics. doi: 10.1007/978-3-319-33865-1_21.
Ojo, M. (2011). Building on the trust of management: overcoming the paradoxes of principles based regulation. Banking & Financial Services Policy Report, 30(7).
Polonsky, M., & Jevons, C. (2006). Understanding issue complexity when building a socially responsible brand. European Business Review, 18(5). doi: 10.1108/09555340610686930.
Pradhan, S. (2016). Impact of corporate social responsibility intensity on corporate reputation and financial performance of Indian firms. Business: Theory and Practice, 17(4). doi: 10.3846/btp.17.11123.
Rayner, J. (2003). Managing reputational risk. Curbing treats, leveraging oppor-tunities. England: John Wiley & Sons.
Reina, D., & Reina, M. (2010). Rebuilding trust in the workplace. Seven steps to renew confidence, commitment, and energy. San Francisco: Berret-Koehler Publisher Inc.
Rindova, V., Pollock, P. T., & Hayward, M. L. (2006). Celebrity firms: the social construction of market popularity. Academy of Management Review, 31(1). doi: 10.5465/amr.2006.19379624.
Rindova, V. P., Williamson, I. O, Petkova, A. P., & Sever, J. M. (2005). Being good or being known: an empirical examination of the dimensions, antecedents, and consequences of organizational reputation. Academy of Management Journal, 48(6). doi: 10.5465/amj.2005.19573108.
Siltaoja, M. E. (2006).Value priorities as combining core factors between CSR and reputation – a qualitative study. Journal of Business Ethics, 68(1). doi: 10.1007/s10551-006-9042-4.
Schnietz, K. E., & Epstein, M. J. (2005). Exploring the financial value of a reputa-tion for corporate social responsibility during a crisis. Corporate Reputation Review, 7(4). doi: 10.1057/palgrave.crr.1540230.
Scott, S. G., & Lane, V. R. (2000). A stakeholders approach to organizational iden-tity. Academy of Management Review, 25(1). doi: 10.2307/259262.
Srivastava, K., & Sharma, N. K. (2013). Service quality, corporate brand image, and switching behavior: the mediating role of customer satisfaction and repur-chase intention. Services Marketing Quarterly, 34(4). doi: 10.1080/15332969. 2013.827020.
Szreder, M. (2004). Methods and techniques of opinion polls. Warszawa: PWE.
Szwajca, D. (2016a). Corporate reputation and customer loyalty as the measures of competitive enterprise`s position – empirical analyses on the example of banking sector. Oeconomia Copernicana, 7(1).doi: 10. 12775/OeC.2015.007.
Szwajca, D. (2016b). Corporate reputation management. Building and rebuilding stakeholders` trust. CeDeWu, Warszawa: CeDeWu.
Wallace, E., Buil, I., & de Chernatony, L. (2013). Brand orientation and brand values in retail banking. Journal of Marketing Management, 29(9-10). doi: 10.1080/0267257X.2013.796323.
Walker, K. (2010). A systematic review of the corporate reputation literature: defi-nition, measurement, and theory. Corporate Reputation Review, 12(4). doi: 10.1057/crr.2009.26.
Wojcik, K. (2009). Public relations. A reliable dialogue with the environment. Warszawa: Agencja Wydawnicza Placet.