Branding – is just a slogan/logo or corporate values?
This is an important topic, especially in today’s society where more and more businesses are not only carrying out business internationally in multiple countries, in multiple languages they are also opening brick and mortar offices internationally. By opening a new office overseas they are in turn employing a local work force even if they move some of their executive team to help support the setup of the office. Companies have to adapt their way of doing business abroad, they have to maintain equilibrium between the local employees values and beliefs and the company strategy and corporate values. They need to maintain their ideologies but must be mindful of the local employees values
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West culture. There are a few exceptions but no surprises with all the Scandinavian countries featuring in the high quality of life (feminist) list, they are known for their human rights, family orientation and employee benefits. Whereas at the other spectrum you have countries like Germany, South Africa, United States and Great Britain who culturally have more emphasis on succeeding in the workplace then being overly concerned with work life balance. However many years have passed since this research was carried out and it’s interesting to see that more and more countries are adopting a more work life balance as a core value, with large US multinational offering a better balance between life and work including Dell offering more and more work from home position and American Express who says “The work culture at American Express is based on a belief that "a career should be the pursuit of what you love, a way of making things better in the world around you, and the foundation for a successful future." . Also there are more companies using words like “collaboration” in their company value and vision statement like Coca-Cola and within their training programs like CISCO as they understand the changing culture and are willing to embrace what once was mainly an Eastern culture now it’s an important element across Western
Disney was founded in October 16th 1923, by the brothers Walt and Roy Disney who were recognised as the Disney Brothers Cartoon Studio and have recognised themselves as a leader in the American industry before changing into live-action film production, television and travel. Today we see Walt Disney Company with an assortment of brands related to different forms of entertainment, within these brands there is the main character a mouse better known to the public as Mickey Mouse. Through the years Walt Disney struggled for success with a number of unpopular characters but his fluke changed course with the introduction of Mickey Mouse. A trademark on Mickey mouse was quickly done so to protect the brand. Mickey was described in his creations as a friendly carefree approach that caught the hearts of people of all ages.
Hofstede, G. (1980). Culture's Consequences: International Differences in Work-Related Values. Beverly Hills, CA: Sage Publications.
Cultural differences plays a huge role in growing and sustaining a business. It helps companies understand different cultures to provide greater services not only to their customers but a greater work environment for their employees. Some aspects include gender, race, nationality, religion and age group. (Seymen 2006) proposed that values and morals each individual hold have influences on behaviours and ideas in different scenarios. According to (Bateman and Snell 2012), there are many advantages towards the organisation in terms of better market connections, improved international competition, multiplicity points of view and a better team performance.
With the proliferation of the internet international Business transactions are more common today than ever. Globalization is now a key factor when creating a business strategy for most companies whether they are small family own businesses or huge corporations. Globalization however does not just involve selling a product in other countries. There are legal and cultural concerns that must be addressed. The legal aspects are fairly simple because in most places the laws are spelled out. It's the local customs, and regional way of doing things that can be tricky. Research on globalization has shown that it is not an omnipotent, unidirectional force leveling everything in its path. Because a global culture does not exist, any search for it would be futile. It is more fruitful to instead focus on particular aspects of life that are indeed affected by the globalizing process. (1). In this new economy, as it has been in the past, it will be the people not the machines who will determine a company's success. Having an effective Human Resource Management team that effectively analyze your company's current and future personnel needs is key in any business organization.
International businesses are also finding new ways of increasing diversity abroad. Instead of using expatriate employees as management, they are starting to hire locals. Companies that operate abroad are realizing that using expatriate employees is not a permanent solution. They are often expensive, and are not capable of translating their skills into the new environment. In a company that operates globally, it is important that the company knows how to relate to the local markets, and a great way to do this is by hiring local talent. Hiring locally is cheaper, there is not a language barrier, and they are accustomed to the business environment in the area(5). They can also help the business by providing a new perspective into international markets, and offer ways that the company can improve their diversity abroa...
A major challenge of doing business internationally is to adapt effectively to different culture. Such adaptation requires an understanding of cultural diversity, perceptions, stereotypes, and values (Hodgett &Luthans, 2005). Doing business overseas has its challenges as well as it rewards.
What is branding? Branding has been advocated as a potentially successful response to heightened market concentration; it offers the possibilities of centralized control and format standardization, and an added value or cost driven strategy can be used to differentiate the retail offering and reinforce market positioning. Brands provide informational cues for buyers about the store's merchandise quality, and favourable images of brands positively influence patronage decisions." Successful retail branding can provide a form of "insulation" against price competition and states: "Where the store brand name is itself a brand name based on a quality appeal, it will be easier to position the own brand as a premium product under the same name" (Schmidt, R., & Pioch, E., 2005). Further as consumers, we tend to think about brands as symbols like the Nike swoosh or McDonald’s golden arches; the working definition of a brand is broader. A brand is usually defined as a name, logo, symbol, words, or combination of these, intended to distinguish a particular company’s offerings from those of competitors. In this sense, the modern use of the word “brand” harkens back to its older meaning which is a distinguishing mark or burn to identify wine, livestock or other commodities by their owner (Koehn, N., 2013).
Branding is very important aspects of any business because it gives identity to company and its products for example every person is different and have unique personalities similarly companies differentiate their products through branding. The brand I have selected to analyses for this assignment is GoCompare.com. I have selected this company because it has always displayed very catchy adverts on television and it will be interesting to analysis the brand using theoretical models. Gocompare.com was first launched back in November 2006 by Hayley Parsons. The main difference from competitors was to display more detailed quotes rather than just prices stacked together. It found big success in very short time and in 2013 it is estimated to worth over 450 million express, 2013.
...e located and the human resource management to effectively manage the global workforce diversity. Furthermore, management practices across nations should be more focused in terms of enhancing expatriates’ experience with cross-cultural training. It is also highlighted that executives of international firms must efficiently devise the best strategies and plans to increase the business positive performance and for controlling resources of their foreign subsidiaries. As a consequence, global managers play a very important role in the development and success of multinational corporations in the current competitive international market since there are numerous issues that they have to deal with in the operating process. If the enterprises could overcome the management challenges, they would gain great opportunities in the global economy and achieve favorable outcomes.
Nowadays, the phenomenon of globalization has massively affected the social and cultural values and has made an assembled standard of uniqueness and obstacles. Moreover, international organizations such as multinational companies, corporate brandings, non-governmental organizations, and global media play a critical part by quickening communications among social societies worldwide (Ghodrati, Joorabchi & Muati, 2015). Especially for the effect of globalization, world has started become more culturally diverse and incorporated each and another. In today’s workplace, a constructive effect of cultural diversity in the work environment is that employees having a place
Understanding how organizational and national cultures relate, analyzing and identifying cultural similarities and differences, and addressing potential cultural conflict is crucial to the pursuit of cross-cultural harmony within an organizational environment. Cross-cultural harmony is essential to prevent misunderstandings, disagreements, and other types of conflict in the workplace. Organizational culture is highly impacted by national cultures, incompatibilities will not only result in an increased complexity of organizational management, but may also result in actions and behaviors contradictive to the organization’s mission and goals.
... all the existing meanings and definitions of brands are provided. The history and evolution of brands are also looked upon.
A brand identifies a seller’s product from a competitor’s product. There are three main purposes for branding product identification, which is the most important purpose, repeat sales, and new-product sales. Branding has a lot of terms that marketers use there is brand equity, global brand, and brand loyalty. Marketers also have different brand strategies that they use for different products or customers. It all depends on the consumer for them to decide which strategy they will use. The different strategies are generic products, manufacturer’s brands, private brands, individual brands, family brands, and co-branding. The branding purposes and the branding strategy make up the importance of branding.
Marketing and branding, two of the most common used words in the contemporary world, is closely linked to each other without doubts, but the importance of branding to successful marketing is enquired to measure in term of the question. In fact, various people have different ideas on marketing and branding. For most of people, or customers, the two are normally combined in their minds or even equal to each other. For example, people could raise Apple as the answer for both questions of "what is good branding" and "what is successful marketing". In fact, they are two separate topics on academic, and branding is just one of the numerous marketing activities apparently. However, the perception of consumers might be a good guide to answer the question.
The purpose of this research was to create a deeper consideration about the influence of