In this particular field, the finance specialists are at sea. They are hidebound by historical figures. "Intangibles" now make up most of the value of companies, and the race is on to identify, measure and manage these intangibles. This cluster of intangibles includes: intellectual property, monopolistic situations, brand equity, But it is difficult to identify where one ends and another begins, hence the recent surge in the quest to measure corporate reputation. So where should companies start?
THE FINANCE SPECIALISTS: THE INTANGIBLES
First, the meaning of reputation needs to be pinned down. How does it differ from corporate identity, corporate image or brand equity? All are related ideas. Corporate identity is how an organisation thinks of itself, while cor- porate iinage is how others see it. Traditionally marketers think of the logo and the lively as the visual expressions of corporate identity, and they think of projecting a corporate image via visual and verbal communication - advertisements, press releases, media stories and the like. They would claim both can be managed within the marketing function, but reputations are more than identity or image, and cannot be so easily managed. They exist only in the minds of other people, mostly outside the organisation.