Scandals and unethical corporate governance practices have caused the public to lose trust in the larger corporations. Those corporations strive to maintain a positive brand persona to sustain in the current dynamic times. This loss in the intrinsic brand image of the people has caused the companies’ loss intangible sales, even reputation. In events of scandals and negative reputation the companies try to rebuild the lost positive brand image that they once held. This is imperative for the sustenance of the modern day corporations to sustain in the current environment. In the event of a scandal, the companies try to rebuild the lost image by using appropriate CSR strategies. The ways in which they have embarked on creating real change in the society have been probed in this analysis.
In this analysis, there will be the focus on three specific companies to understand the relevance of CSR in the modern times. These have been elucidated in the following. Organizations that will be the probed are Nongfu water, Fiji water, and TEI Company. They have been able to sustain after a tainted scandal. These companies have been able to develop community rapport and develop sales based on these CSR activities. These have been probed in detail in the following analysis.
The potential question that will be derived from this analysis is how the companies can develop innovative practices to overcome the issue of negative publicity.
The ways is to address the gaps after implementation of the process.
The methods of continual evaluation ensure that the brand regains credibility and stakeholder patronage. This will be probed in the research analysis.
As mentioned earlier, the case studies of TEI, Nongfu Spring water and Fiji Water will be used to understand and evaluate the impact of CSR on rebuilding consumer patronage. Each of these companies has faced negative public images. These are based on unique set of issues that each company faced. This led to the companies to lose consumer patronage and loss of brand image.
These three companies used unique methods to develop an innovative CSR strategy that was restructured based on the needs of the situation.
There is a need to probe into these processes in detail to understand the nuances and the intricate methods in which each of these companies is able to sustain in the current paradigm. There should be more analysis of the methods followed by the companies. They can be used as a formula for the future companies to address and develop the CSR to garner public support. These will be probed in the analysis. There will be more focus on the qualitative aspect of the secondary research data that was detailed in the previous section. All the ethical considerations will be done in order to gain consumer support.