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CORPORATE REPUTATION AND SOCIAL MEDIA

Reputation is the distilment of impressions and emotions derived from a firm's behaviours and actions. It is very important since it is disseminated to the public, thus providing information and influencing attitudes towards the company at stake. Corporate reputation is an intangible asset and resource that provides competitive advantage to the company.

A good corporate reputation attracts investors and high-level employees, supports long-term relationships with customers, suppliers and local communities and strengthens employee loyalty. Positive experiences and interactions with the company create a good reputation, while rumors of acts and behaviors considered as negative create a bad reputation that is detrimental to the organization.

In the era of Web2.0+, reputations are propagated quickly and widely. Social Media can be an effective corporate reputation management tool, since through them the company presents itself to its audience, promotes its positive acts and responds to negative reviews. Corporate monologues are now replaced by two-way communication and the co-production of meanings.

The awarded research of Zarkada and Polydorou of the Athens University of Economics and Business showed that corporate reputation management on social media is a particular challenge, which few executives who handle corporate visibility and communication worldwide are ready to face.

Consumers are the ones that determine the flow and the fate of corporate communication in social media

THE AWARDED PUBLICATION

The awarded research by the Assistant Professor of the Athens University of Economics and Business Dr. Anna Zarkada and the graduate of the Masters in Services Management Ms. Christina Polydorou examines how the 50 most reputable companies in the world are using the 'Facebook Fan Page' to promote the building blocks of their corporate reputation through presentations of their products and corporate social responsibility activities, narrations, images and stories about their workforce.

The results have shown that few companies have managed to exploit the tools provided by Facebook to manage their reputation whilst consumers build their own version of them by commenting on, sharing and, often, altering the corporate message in the process. A most notable feature and strength of Facebook is the ease and speed by which one post or a photo comment can be reproduced and therefore increase the positive or negative corporate reputation. In the 'Fan Pages', comments can be seen not only by the corporations’ friends but also by the friends of all their friends. Thus, reputation spreads exponentially and the ability of the corporate communication executives to manage it is diminished.

On social media platforms, it is consumers that are the ones who determine the flow and fate of corporate communication. Only by providing interesting content, listening and responding to consumers’ views with humor and sensitivity can the company can co-create an attractive corporate reputation.

International Award

The research of the Assistant Professor of the Athens University of Economics and Business, Dr. Anna Zarkada and the graduate student of Business Administration Mrs. Christina Polydorou, entitled: «You Might be Reputable but are you" Liked "? Orchestrating Corporate Reputation Co-Creation on Facebook», was included in ‘Social Media in Strategic Management’, the 11th volume of the ‘Advanced Series in Management’ of Emerald publications. It was edited by Miguel R. Olivas-Lujan and Tanya Bondarouk and received the Emerald Literati Network-Awards for Excellence 'Outstanding Author Contribution Award 2014'

This is the top prize awarded annually to Emerald Group Publishing authors who have added something new and important to scientific knowledge. Emerald has a portfolio of 290 scientific journals, over 2,350 books and 106,000 authors in 130 countries.

ATHENS UNIVERSITY OF ECONOMICS AND BUSINESS

Zarkada Anna, Assistant Professor of Marketing, Department of Business Administration.

Polydorou Christina, Graduate of the Masters in Services Management.

http://www.aueb.gr/ Emerald Book Publication (pdf) Emerald Literati Network-Awards for Excellence Outstanding Author Contribution Award 2014