The limelight, and is becoming more and more important

The subject
of corporate reputation management has come into limelight, and is becoming
more and more important with time. This increasing importance that managers
place on the value of sustaining a favorable corporate reputation (Van Riel et
al, 1998), has been reflected through the whole industry being devoted to
profiling corporate reputation.The subject
of corporate reputation management has come into limelight, and is becoming
more and more important with time. This increasing importance that managers
place on the value of sustaining a favorable corporate reputation (Van Riel et
al, 1998), has been reflected through the whole industry being devoted to
profiling corporate reputation.Being a
well-established corporate constantly interacting with and depending on many
stakeholders (refer appendix 01), it is important that Sampath bank takes
measures to manage its reputation in an effective manner. It will result in a
positive reputation which will act as a distinctive feature from the
competitors, build trust from within the organization and to attract quality
staff, partners and allies. (Fombrun and van Kiel, 2004).

The
Reputation quotient (Fombrun, 1996) in appendix 02 can be used to evaluate the
current role and purpose of reputation management within Sampath.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

·        
Sampath
bank maintains a fairly good reputation with regard to its products and
services where innovation is promoted throughout the portfolio, where they
emerged the winner of Finacle Client Innovation Awards 2016. (Refer 2.1,
appendix 02). As for the workplace environment, the management ensures employee
satisfaction by maintaining extensive programs for employee wellbeing such as
the introduction of the Sampath Special thanks and Recognition Scheme (refer
2.2,appendix 02) thus, managing these aspects so as to have a minimum negative
impact on its reputation.

·        
However,
financial performance works as a drawback on reputation when compared with
competitor performance where Sampath bank falls to be the 3rd place
in its market (refer 2.3, appendix 2). Vision and leadership as well, is seen
to lacks certain aspects that adds on to the reputation. The positive
contribution from CSR to the reputation of Sampath is fairly low, for instance,
the low GHG emissions recorded by Sampath bank is not much related to the
banking industry, where as important aspects such as the ethical
responsibilities which are of very much relevance given the nature of the
industry, are not given priority and focus (refer 2.5, appendix 02).

·        
The
conclusion is that Sampath bank’s role and purpose of reputation management
appears to be unevenly distributed among the various aspects that determine the
reputation of Sampath, where some areas such as employees are well managed and
associated with reputation management as oppose to some other. The management
has not clearly identified the importance and thus has failed to maintain a
consistent reputation management strategy which overlooks the entire
organization as a whole.

Incidents
like the damage done to the reputation of HSBC bank in Sri Lanka, with the
unexpected release of client information, which was due to uncontrollable
online activity, proves as a great example in relation to the importance of proper
reputation management both online and offline.

The following table
adopted from Van Reil and Frombrun further explains the importance of
reputation management for Sampath bank Those mentioned as outcomes in table 2 are what’s considered as the 4
facets of corporate reputation by Frombrun (1996), which further establishes
the importance of the management of the above mentioned activities for the
effective management of reputation itself. As of present, Sampath bank is
reputed for being an innovative, creative bank which acts as the agent of
change. Further
appendix 5 explains the status of Sampath bank’s social media presence and the
extent to which they are utilized to improve the image of the bank. As per the
analysis, and no proper social media strategy being mentioned in the annual
reports extending from 2011-2016 it is eminent that the online reputation of
Sampath is under no proper control. Thus it lacks the proper mechanism to
manage the online reputation especially via social media. Although Sampath
bank’s online presence is marked with the online banking portal and the
website, it is clear that enhanced efforts and resources needs to be allocated
for the optimum results of all  online
channels possible, through the proper online reputation management. 

Actual identity

The comprehensive reward mechanism
constantly drives and motivates the employees to achieve higher levels of
performance. A learning culture that promotes innovation and value for
customers (Annual report 2016). Operates under the strategy based on
innovation and service differentiation. Bureaucratic control systems prevail.
(cultural web)

Communicated identity

Leading bank in the industry with
constant value addition to customers through innovation (Daily mirror, 2016).
Striving to deliver creative and innovative products and services with
enhanced digital engagement (Annual report, 2016)

Conceived identity

Ambitious, achievement oriented
organization which is less biased towards a rough and rugged, arrogant
nature. Is known to be reliable and secure to a fair extent. (as per appendix
3)

Ideal identity

Being the pioneer in delivering
products with new features in par with the updating technology, such as the
first robot bank in Sri Lanka. Digitalizing the banking experience further
enhancing the customer experience.

Desired identity

Striving to develop
and nurture a healthy and inclusive culture that can inspire people to learn
and grow (Annual report, 2015)