Role And Impact Of Corporate Image In Organization

INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Every aspect of business and industry is undergoing rapid change in terms of philosophy and technology and there is more rapidly changing function of corporate image of image is often considered to be an important of long term sales and profits.
Corporate image of an organization according to Keith Davis (2005) conveys its mission, professionalism, competence of employees and its roles in the political landscape of marketing environment. It reflects the organizational commitment to its employees, customers; competitors etc. in the whole role of image promotion programme according to Mark (2009) stated that really makes a company profitable are its fundamental attributes, caliber of management, resources products and marked organizational structure and if these are sound then, the use of appropriate technique will reinforce their efforts, on the other hand if there major attributes are sound then there is an amount of thinking of the techniques that will make a company highly profitable and improve organizational performance.
Mass merchandizing, new method of advertising increased competition and government regulation into public view and cause executive to seek more favorable reactions. The concept of corporate image is often considered to be an important determinant of organizational performance. Therefore, it is reasonable to consider the use of image as an objective, not only for advertising programmes and an organization as a whole.
Ejiofor (2004) said that corporate image the function of organizational signal which determines the perception of various stakeholders, regarding the act of the organization because of its relationship to the action of the organization. He said that image has been studied as an indicator of social performance of the organization. Recent research determined that social performance has direct effect on the behavior and attributes of the organization employee.
A sound corporate image is no substitute for dealing and quality products. However, first impressions have a lasting effect. A company’s ability to communicate a favorable and progressive image to its many publics places it ahead of its competition and subsequently has a profound effect on the bottom line. Advertising and publicity are only two aspects in the establishing a firms image. Everything a company says and does is a component of its corporate image. According to Bernstein (2004), image is the global evaluation comprises of a set of beliefs and felling a person has about an organization. To identify the strength and weakness of your organizations corporate image based on four basic dimensions, namely quality, performance, responsibility and attractiveness on the mind of each stakeholders including the public, management and journals.
Some of the warning signs that a business might have an image problem according to Oliens (2010) are, high employee turnover, the disappearance of major customer, a drop in total value, and poor relationships with vendor or government officials advertising and publicity.
The critical importance of corporate image becomes apparent when consumers protest provokes from large organizations series or explanation and apologies for the faults they are accused of companies must therefore give to finance, marketing and research in the table of rapid, social and technological change. Otherwise it cannot expect its command public respect and support in the market place.
To live and grow to command respect and regard, the corporate image must be more than a product of public relation. Therefore corporate image promotion should not be left in the hands of the public relation men, but should be the responsibility of top management and indeed every member of staff. This implies that the image programme should be part of the over all planning for the company’s future. No matter how impressive a firm’s achievement are, they must be properly presented in the public for them to be acknowledged. Thus corporate planning is an integral part of policy decision. For some companies, image programmes is part of board planning for greater sales and profit. This is one of the fundamental objectives of management and all its activities will be programmed to that end.
Oxford Advanced learners dictionary new 7th edition page (743) defined image as the impression that a person, an organization or product, etc gives to the member of the public vocabulary defined image as a picture or other representation of a person or thing, it can be someone public perception. Image has its roots in Latin word “Imitari” meaning to copy or imitate.
Finally in order to gain the support of its publics the corporate image must show that management is progressing, mobile, open to innovation, fair to all and free of dogns and consections.

1.2 STATEMENT OF PROBLEM
Statement of the problem is an identified problem that prompted the study.
Corporate image as described is the manner in which a company, its activities and its products or services are perceived by outsiders.
Some of the identified problems associated with bad corporate reputation are as follows:
– Loss of customers patronage
– Loss of revenue/profit: that is the inability of organization to generate revenue for future expansion.
– Lack of shareholders support high employee turnover, drop in stock value and poor relationship with vendors or government.
If an image problem of an organization left unaddressed a company might find many of its cost of doing business rising dramatically, including the shareholders dividend, employee wages et. In addition, since the majority of consumers base their patronage decision on trust, current and future sales level are likely to suffer.
This and other factors have necessitates the study to explore ways and areas to fluid solutions to the problems confronting the organization in general and Federal Polytechnic Nekede in particular, so as to lead to economic buoyancy of the nation.

1.3 OBJECTIVE OF THE SYUDY
The objective of this study is to evaluate the role and impact of corporate image in an organization with particular reference to federal polytechnic nekede Owerri focusing on the following:
1. To determine what is corporate image
2. To ascertain the impact of corporate image on the organizations performance
3. To find out whether the strategy adopted to promote corporate image can enhance consumer patronage.
4. To find out how organization build their corporate image

1.4 RESEARCH QUESTIONS
The following research questions would be necessary to make this research a success.
1. What actually is corporate image?
2. What are the factors militating against corporate image of organization?
3. How does corporate image adopted promote consumers patronage in organization?
4. How does organization build their corporate image?

1.5 RESEARCH HYPOTHESIS
Hypothesis is a statement of relationship between variables. It is a reality and this prediction is made from the world of theory. In this study, two types of hypothesis are used namely:
i. Null hypothesis denoted by “Ho”
ii. Alternative hypothesis demoted by “Hi”
HYPOTHESIS ONE
Ho: How organization build their corporate image does not significantly affect their level of performance.
Hi: How organizations build their corporate image significantly affect their level of performance.
HYPOTHESIS TWO
Ho: corporate image has no relationship with consumer’s patronage.
Hi: corporate image has relationship with consumer’s patronage

1.6 SCOPE OF THE STUDY
This study is focused on the role and impact of corporate image in organizations with particular reference to federal polytechnic Nekede, Owerri Imo State.
Date collection will be restricted to textbooks, journals, internet browsing, magazines and other relevant material that deals with the study.

1.7 LIMITATIONS OF THE SYUDY
The researcher in the process of gathering information and relevant fact face some naturally and manmade constraints such as:
i. Time factors, owing to the fact that this study is carried out within the time the researcher is battling in her semester work, she could not have enough time to gather some information and materials needed for the work at its disposals.
ii. Lack of finance: the researcher as a student still depends mostly on the goodwill of the parents and sponsors for the research finance. As a result of this, the resources work is not enough. It therefore handicapped her from getting access to all the materials needed for the research.
iii. Human element, this study has some human element and such cannot be said to be perfect. It base of the concept of reasonable assurance despite the existing limitation of the study, the researcher assumes that all the information obtained is the best of her knowledge.
iv. Material sources, the researcher find it difficult to reach some text books, journals, thesis to carry out the work due to inability of the researcher to cope with time and finances to carry out the time assign to the task.

1.8 SIGNIFICANCE OF THE SYUDY
This research work will be significant to the following:
a. To the Organization: the study will enable managers to realize that corporate image as a strategic tool for enhancing organizational performance is one of the management responsibilities and is necessary to command the support of the public and to increase performance in the organization.
Meanwhile, the main significance of the study is to increase awareness among the management of indigenous institution of the potency of a good corporate image in an organization.
b. in the Field of Academics: it will help to impact knowledge on most of the scholars/student that are anticipating to become future great manager of an organization or institutions of promoting corporate image as a strategic tool for enhancing organizational performance.
c. To the Researcher: This research work will serve as a reference material for researcher and a basis for further researches.

1.9 DEFINITIONS OF TERMS
Technology: The application of scientific knowledge for practical purposes especially in industry.
Corporate: The term corporate is the total of an impression of a company in the consciousness of the organization.
Performance: The accomplishment of a given task measured against present know standard of accuracy completeness, corts and speed.
Image: It is an impression that a person, organization or a product gives to the members of the public.
Profitability: The ability of a business enterprise to make profit, revenue or surplus at the end of the year.
Organization: A group of people who form a business in order to achieve a particular aim.
Quality: A properly or an attribute that differentiates a thing or a person.
Impact: The effect that something has over somebody or something.
Philosophy: The study of general and fundamental problems such as those connected with, reality, existence, knowledge, value, reason, mind and language.