Demarcating the Field of Corporate Brand Management

The corporate brand relates to multiple stakeholders and is represented by the covenant or brand promise to its stakeholders. The process of corporate branding is aimed at building the desired image and reputation. There are three concepts that are at the core of the corporate brand: brand identity, brand values, and brand positioning. The outcomes of corporate branding are the establishment of differentiation among the organisation’s rivals, providing credibility and trust among its stakeholders, and helping to develop a good image and reputation for the organisation. The purpose of the corporate brand is to ensure a sustainable competitive advantage. The characteristics of corporate brands is discussed. There must be alignment of three interdependent elements: vision, culture, and image; brands should be authentic to enable the organisation to put their values at the core of their actions, develop good brand experiences for stakeholders and, where possible, use their brand heritage to build their identity. In the future there will be stakeholder co-creation, increased ethical compliance, and sustainability in decision making. The traditional perspective on ethics and corporate social responsibility is currently being challenged and there is a move towards a more conscientious approach to management.