EFFICIENT CORPORATE IMAGE MANAGEMENT AS A STRATEGY FOR ENHANCING PROFITABILITY
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- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
Business organization in Nigeria have failed to realize the role a good corporate image policy has in business dealings. This is probably because they do not understand the concept of corporate image and necessary toold for promoting them.
Corporate image, in fact goes beyond attractive products or reminding quality service, advertising paying good salary and so on. It pervades every aspect of a business concern from the least workers personality to the dialing within the organization and with larger society.
In the fact of the dynamics of our society, especially in the business world, brought about by technology, companies are faced with stiff competition that maintaining a competitive edge requires aggressive strategies. One of such strategies is efficient corporate image management and promotion.
The focus on this research work was to determine the strategies that could be employed to build and promote corporate image efficiently and enhance profit margins of an organization. A case study of Phinomar Nigeria Limited, Ngwo was therefore undertaken.
The finding revealed that:
a. Phinomar Nigeria Limited has a lay down corporate image policy though not effectively managed.
b. Strategies employed to promote corporate image are limited.
c. Response to Phinomar products is fairly high, hence it can be said to be profitable.
d. Employee welfare and work environment need improvement.
e. Phinomar needs to increase the scope of its social responsibility.
f. Phinomar need a well managed corporate image which should be reviewed periodically for improvement.
g. Customers’ response to Phinomar product is high.
h. Communication among workers in Phinomar Nigeria Limited is not adequate.
i. Phinomar Nigeria Limited lays emphasis on public relations.
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