Managing Corporate Reputation Assignment Sample

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Introduction: Corporate Reputation Management at Tata Motors

For the success of any business, the most essential thing is managing corporate reputation. Corporate reputation management is the action of forming and maintaining a positive public image for an organization. An organization`s reputation is closely related to its brand image, trustability and viewpoint in front of customers, employees, investors, stakeholders and the public. In the era of digitalization, the spread of negative rumors affects an organization's goodwill which damages the organization`s reputation.

Corporate reputation management helps boost brand image, strengthen trust and maintain a professional image of the organization. In this report, we discuss Tata Motors Organization`s corporate reputation. It is an Indian multinational automobile manufacturer that deals in cars, sports vehicles, trucks and defense vehicles. In this, we evaluate the organization`s current communication strategies, environment, external and internal opportunities and threats that affect an organization. Also, discuss about new corporate reputation strategy to assess the impact of the strategy on stakeholders, organizations and society.

Main Body

Tata Motors focuses on reputation-building through innovation, sustainability, and customer engagement. Understanding corporate reputation strategies is key to success. Get expert assistance from Affordable and High-Quality Assignment Help Online to ensure well-researched, top-grade academic work tailored to your needs.

Reputational Audit of TATA Motors on current communication strategies

Tata Motors is a global automobile company. For the succession of a business, an effective communication strategy is necessary, Communication strategy aids a business in flowing information internally and externally. It is a strategy to communicate with a target audience. For effective communication, Tata Motors Company use a two-way communication strategy. According to this strategy, communication flows downward means from top-level management to employees and flows upward means from employees to top management. As a part of communication top managers give instructions and orders to employees to complete the assigned task and employees give their feedback and suggestions to top managers. This communication strategy is essential for an organization to achieve its goal and helps build trust among employees and improve the free flow of ideas and opinions in the workplace. It gives a feeling of belongingness to the employees. To communicate with the target audience the company use social media platforms like Facebook, and Instagram to engage more customers while promoting its product.

Stakeholders

Stakeholders refer to a group or person that has an interest in the company`s decision-making activities. For better performance and sustainability in the long run stakeholder engagement is efficient. Employees, customers, suppliers and investors are stakeholders of the company.

Reputation

Tata Motors has a good and powerful brand image in India as well as globally. A strong reputation is maintained by the company because of its quality, reliability, safety measures and innovation in products. A strong brand reputation enables a company to attract more loyal customers. By using the Flexible Strategy Framework, Tata Motor can gain a global presence by establishing footprints in the global market, increasing market share for its product and becoming a leading global automobile company.

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Environment

The success of any business depends on the ability to cope with the changing environment. In the dynamic environment, the company emphasis on the PESTLE-

• Political factors- Tata Motors is doing business in different countries like Africa, Australia and the Middle East. The company has to focus on the rules, regulations, laws and policies to operate their business in the global market. The company needs to know the rules and regulations while making a deal with Ford to purchase Jaguar and Land Rover.
• Economic factors- Tata Motors operates business globally, and some things need to be considered like exchange rate, interest rate, inflation and so more. Variation in foreign currency impacts the profitability of the business.
• Social factors- This environment includes social factors like public perception or views and social work. For Tata Motor Company, the public has the perception that the company deals in cost-efficient vehicles that attract customers. To make a strong brand image Tata Motors is engaged in several charitable and social welfare projects.
• Technological factors -To operate in a competitive environment, Tata Motors has to stay innovative to establish its footprint in the market, as an innovation in technology. Tata Motor significantly invest in electric vehicles. In today`s time, electric vehicles are a growing industry.
• Legal factors- As Tata Motors doing its business in several countries, the company needs to be alert about rules of production, purchasing raw materials, production process and import and export of the automobile industry,
• Environmental factors- The automobile industry significantly impacts the environment through carbon emissions. It makes it a social responsibility of the company to do eco-friendly projects. To fulfill its responsibility Tata Motor made a huge investment in electric vehicles.

The Reputational Opportunities and Threats of Tata Motor

Opportunities

• Market Expansion- Tata Motor has the opportunity to expand its business in emerging markets like Africa and Asia where demand for affordable vehicles increases.
• Market for Electric Vehicles- Due to concerns regarding the environment and pollution, global demand for electric vehicles is increasing continuously. By investing in advance technology and improving infrastructure the company use this opportunity to increase profits.
• After-Sales services- Tata Motors can improve customer satisfaction and increase brand loyalty by using opportunities for after-sales services like maintenance and repairs.

Threats

• Competition- There is high competition in the automobile industry, they have to face domestic and global competition. Tata Motors has to introduce new products and technology to remain in the market.
• The downturn in the Economy- Slowdown situations in the economy affect consumer demand for vehicles. Tata Motor Company needs to adjust production levels and costs to be able to cope with this type of problem.
• Technological changes- Tata Motors operates its business with the help of technology. In a complex environment, there are continuous changes in technology that become a threat to a company. The company need to invest in research and development to keep changing with the technology.

New corporate reputation strategy to build and maintain Tata Motors' corporate reputation

To build or maintain a corporate reputation Tata Motors makes efforts to enter a new market to increase its market share leads to increased revenue and profits. To build more reputation Tata Motors entered the market in Europe with its star products Electronic Vehicles like the Tata Nexon EV and the Tata Tigor EV to attract more customers (ETAuto Original: How Tata Motors wins the EV game in spite of Mahindra’s decade-old head start, 2023 ). In the digital era, the company use online marketing and social media to attract new as well as existing customers. To reach a vast spread target audience, Tata Motors invests in advertising through social media platforms like Facebook, Instagram and Twitter. To keep updating existing customers about new products company should send Emails to customers.

To provide more customer satisfaction Tata Motor pay attention to reviews or feedbacks of the customer through platforms like Google. This aids the company in understanding customer needs and preferences. By working on this feedback company can increase customer satisfaction and be able to increase more customers for their product. Providing after-sales services and quickly responding to the issues of customers helps engage more customers. The company build their reputation by fulfilling their social responsibility. By contributing to social responsibility, the company can protect society and the environment from the adverse effects of their business.

Impact of Strategy on Organization, Stakeholders and Society

Every business runs to achieve its goal. The goal of a firm is achieved with a good strategy effectively. The impacts of strategy are-

• Increase profitability- To maintain or build a reputation, the company use the strategy of online and social marketing that grabs large customers and helps increase the profits of the organization. The investor enjoys their returns on investment, customers enjoy quality products and employees enjoy becoming a part of a reputed organization.
• Reach a large segment of the customer- By entering a new market, the organization can establish their footprint in a new market attract more customers, able to get new resources for its product. By entering a new market, businesses can bring economies of scale, which helps society in getting products at affordable prices.
• Protect the environment- To build a reputation and as a part of social responsibility, the organization use an eco-friendly production process. To reduce pollution, organization introduce electronic vehicles that help the organization maintain their reputation and protect society or the environment from adverse and harmful effects of pollution.

Conclusion

As expressed, managing corporate reputation is a valuable asset. It impacts customers, employees, shareholders, competitors, the government and the environment. Quality of product or service, company values, workplace environment, and customer service all this factor indicate corporate reputation. To maintain a good corporate reputation Tata Motors uses various strategies, these strategies escape a business from negative factors that damage the company`s reputation. It maintains a positive image that aids in protecting its brand and building good customer trust.

The report states about Tata Motors' two-way communication strategy helps in effective communication between top management and employees, This report outlined opportunities for market expansion, a market for electric vehicles, after-sales services and threats to business including competition, economic downturn and technology changes. There is a sum of strategy and impacts on reputation strategy on organization, shareholders and society. Thus, maintaining a good corporate reputation is an essential requirement for any business to successfully achieve of goals of the business.

References

Books and Journals

• Balbhim, K.M., 2023. A STUDY OF CORPORATE SOCIAL RESPONSIBILITY ISSUES AND CHALLENGES WITH SPECIAL REFERENCE TO TATA MOTORS IN INDIA.
• Mukherjee, D., 2022. A case for Tata Motors' acquisition of Jaguar Land Rover: strategic implications of the takeover. International Journal of Strategic Business Alliances, 7(1), pp.69-80.
• Nayak, Y.G. and Shinde, R.M., 2022. Implication of Business Strategy in Indian Automobile Industry: A Case of Tata Motors. International Journal of Case Studies in Business, IT and Education (IJCSBE), 6(1), pp.126-138.
• Shafiulla, B., 2019. Tata Zica to Tata Tiago: Digital Marketing Strategy of Tata Motors for Rebranding. IUP Journal of Marketing Management, 18(3), pp.40-59.
• Sharma, S.A. and Aggarwal, A., 2019. Aspects of marketing strategy impacting the commercial vehicle industry–A critical review of literature.
• Sushil and Garg, S., 2019. Internationalization of Tata Motors: strategic analysis using flowing stream strategy process. International Journal of Global Business and Competitiveness, 14(1), pp.54-70.

Online

• ETAuto Original: How Tata Motors wins the EV game in spite of Mahindra’s decade-old head start. 2023. Online. Available through: < https://auto.economictimes.indiatimes.com/news/how-tata-motors-wins-the-ev-game-in-spite-of-mahindras-decade-old-head-start/84408734.>