Arnott's Corporate Firmutation
Corporate reputation is one of the key determines of the success of a company. The higher reputation, the more valuable and successful the firm is. Corporate reputation is difficult to define as different scholars have different definitions. According to Fombrun and Shanley (1990), corporate reputation is all about meeting the needs and expectations of firms’ stakeholders. While, Roper and Fill (2012) define corporate reputation as a composition of social image, financial image, product image and recruitment image. In the uppermost and complete definition of corporate reputation is the component of corporate personality, corporate identity/brand, corporate image and reputation which is called the building blocks of corporate reputation (Fombrun, 2012).
Corporate personality is the core nature of the organization which refers to the organizational culture and strategic process …show more content…
They established ‘The Arnott’s Foundation’, as the charitable arm of Arnott’s Biscuits Ltd. In its mission statement, the Arnott’s Foundation states that “The Arnott’s Foundation believes Australia’s future is in our families. Working together, we aim to create positive environments that allow families to build, maintain and enjoy a better quality of life”. The foundation has been supporting a number of hospitals, health organisation around Australia (Arnott’s, 2017).
Arnott’s has been dedicated to protect its revenue and reputation. In 2015, Arnott's demanded a price increase of up to 10 per cent from Coles, using Arnott’s top brand ‘Tim Tams’ as a hostage (Hatch & Lynch, 2015). Although Arnott’s allowed Coles to give a discount sale on Tim Tams to consumers, instead of that, Arnott’s made Coles rise the price of the Tim Tams varieties that it retained from $3.50 to $3.65 (Hatch & Lynch,