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Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Defining the Concept of Brand Equity With Radical Transparency

Defining the Concept of Brand Equity With Radical Transparency
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Author(s): Elena Veselinova (Goce Delčev University of Štip, Macedonia) and Marija Gogova Samonikov (Goce Delčev University of Štip, Macedonia)
Copyright: 2020
Pages: 17
Source title: Global Branding: Breakthroughs in Research and Practice
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-5225-9282-2.ch001

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Abstract

Every company must seek the formula that works best for its particular culture and industry. There is no one right way to transform a conventional company into a value driven company. But all the authentically responsible companies subscribe to a set of principles about: the mission, vision, transparency, working, responsibility, openness, authenticity and innovation – all this put in an agenda for value driven companies which are prepared for the challenges we all face. This chapter analyses how the transformational forces: the tangible worth of intangible assets, the war for top-grade talent, the impressive power of inspired employees, the transparent supply chains, the global impact of NGOs, the informed global consumer reshape the business landscape. The insurgent companies that seize on these drives will create real value and increase their long-term profitability. The concept of radical transparency in business gives the companies the opportunity to win the battle for success differently from the competitors, which would ensure the company's sustainable growth and profitability, arousing from the well-shaped relationships with the stakeholders who provide value for the company. The company's brand would be a synonym for those connections.

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