Summary
This Essay shows the relevance that business prestige has today, starting with considering this factor as an asset within the company, since it is one more element for the client to select from a range of commercial options that exist today. day. In the same way, it is taken into account in what way globalization plays in prestige and prestige in globalization, the opening of markets, and access to information on the Internet are punctual to achieve success and meet business objectives. And finally, the results obtained in a survey carried out in the city of Tuxtla Gutiérrez are analyzed.
Abstract
This work shows the relevance of today´s corporate reputation, starting with considering this factor as an asset within the company, as it is more an item to the customer to select from a range of commercial options available today. Similarly it is taken into account so that globalization plays in the prestige and prestige in globalization, open markets, and access to information on the internet are point to achieve success and meet business objectives. And finally the result of a survey conducted in Tuxtla Gutierrez.
Background
Prestige is a word commonly used to describe the reputation, fame or awards of a person, group of people, institution or cultural aspect linked to some of the above. There are different related meanings although its use is not free from inconsistencies. Each meaning is applied depending on the historical context and the person who uses the word.
Originally, prestige referred to pomposity, which was taken as a sample of bad taste (affectation, prosopopeia, arrogance). In this respect, the word had absolutely negative connotations. In fact the word "prestige" comes from the Latin præstigum, meaning a deception, or a trick, or a ruse. In some Romance languages prestige preserves this original meaning.
Later, prestige developed a positive meaning: it describes high esteem and a solid reputation. Institutions, grants, and events may be described as prestigious; in this case, it would be favorable to be associated with them. Some legacy examples from the past of prestigious personalities.
Prestige or reputation is achieved when admiration, respect and trust are earned and combined. (wikipedia, 2014)
Once the definition and origin of the word prestige has been established, I would like to establish that although the phrase "you have a good reputation", or "you have recognized prestige" is common, it is a pleonasm, or a redundancy, since it was seen that within the meaning of this word these terms are already denoted.
Active
In accounting, an asset is a tangible or intangible asset owned by a company or natural person. By extension, what a company owns is also called an asset. The asset is part of the real or balance sheet accounts.
Active is a system built with goods and services, with functional and operational capacities that are maintained during the development of each specific socio-economic activity.
The concept of an asset in accounting has evolved from a legal consideration that required the ownership of the assets or rights to the current one that requires only the control of the asset or right. Currently, assets or rights that have a future economic benefit are considered "assets". That doesn't have to mean that ownership, tenure, or money is necessary. Assets are a resource or economic asset with which benefits are obtained. The assets of the companies vary according to the nature of the activity carried out.
Business Prestige
It is the reputation and recognition that is given to a company or company, by all who make it up (workers, founders, administrators, suppliers, shareholders, creditors, competitors and customers among others), and this is undoubtedly based on quality of the products and / or services it offers, the fulfillment of the commitments it makes with its creditors and shareholders, the level of satisfaction that the people who work in it have and the responsibility with which it operates for / with society.
It is, therefore, the product, of how a company or company is perceived based on its past actions as well as the way they face challenges, and their projection, it can be said that it is emotional, difficult to rationalize and express, since in what way we can determine which company has a higher percentage or a greater amount of prestige than another.
Prestigious businesses and companies demonstrate a differentiating ability to attract investment, retain customers and employees, while building higher levels of satisfaction and loyalty towards their products and brands. Today, corporate reputation is one of the two most popular non-financial indicators in the world of organizations, both private and public. (Ángel Alloza, 2013)
Research methods: qualitative research and quantitative research. In this investigation that I am going to carry out it can be classified as a qualitative investigation since I am going to base myself on elements such as: financial risk, administration, and its relationship with SMEs, among others.
The method that I am going to use to obtain the necessary information to develop this topic will be through theoretical research and conducting surveys.
As part of the methodology, I establish a hypothesis that will be the center of the development of this essay. Being as follows:
Hypothesis
The prestige of a company is an important factor for decision-making in consumers in Tuxtla Gutiérrez.
To corroborate or discard this hypothesis, I am going to carry out a survey of 30 people as a sample in the center of the city of Tuxtla Gutiérrez, Chiapas; Mexico.
The structure of the survey is as follows:
Gender: MF
Age range
- When you buy a product or service, do you take into account the prestige of the company in which cases? When you have to choose between 2 or more products or services, what is the criterion to select? How do you know what is the prestige of a company? How important do you consider the prestige of a company to be? For you, what type of company does prestige affect you the most?
Business prestige Is it an Asset?
Previously I have already tried to establish a theoretical framework on the concept of both prestige and the concept of asset, now I intend to explain why in my opinion business prestige is an asset, and later evaluating the results of the surveys, I hope to determine its importance.
Although an asset can be tangible or intangible, both the image, brand (if the company has it) and prestige are intangible, since they are the letter of introduction to the market niche or niches, and of its potential clients, causing or Including the acquisition of the product and / or service, by definition they generate a benefit for the company (asset). And if, in addition, with the acquisition and consumption of the product and / or service, the client achieves maximum satisfaction, it can also generate loyalty towards the company, the product and / or the brand.
How to make my company prestigious
Although, and as it was also established in the theoretical framework, business prestige is something immeasurable, since it is based on the opinion and perspective that everyone who is involved in the development of the company, AND there is no qualification or standard that establish the degree or level of prestige that a company has or does not have. Although there are standards and classifications that some of the business sectors establish, but these focus on rating the quality of the product and / or service, as well as one or more of the company's internal processes. Although quality is not equal to prestige, it is a fundamental point to achieve it. Why? A company that does what it promises speaks highly of it.
Another way to guarantee quality is through certification, and ISOs are a standard that endorses a company and its quality at an international level. ISO (International Organization for Standardization) is independent, non-governmental, and the largest developer of voluntary standards internationally. (ISO, 2014)
It is an endorsement of a company but it is also a commitment, that in each process in each interaction, each sale or each service to a customer, it is done in the best way, and there is also a commitment to continuous improvement.
Another factor to consider is that your company has something that sets it apart from others, in a positive way because of its position; that the client perceives that the product or service is different, better or even unique, is a priority for prestige and for achieving business success.
Corporate social responsibility, is a point in favor, is being aware of the environment that surrounds and is part of the company, "most definitions of corporate social responsibility understand this concept as voluntary integration, by companies, social and environmental concerns in their business operations and their relationships with their interlocutors ”. (SRE Europe Commission, 2014). Many companies carry out campaigns throughout the year or permanently, to benefit the community, or to reduce the impact it causes on the environment.
Business prestige and Globalization
With the arrival of the opening of markets, and the development of new technologies, comes a change of concepts, and priorities, just with the internet and social networks, it facilitates and reduces costs to interact with customers, and even to generate a sale, or disseminate a promotion, or analyze the market launch of a new product and its acceptance, but it also puts prestige in an online version, much more fragile, since only a bad comment, justified or not, is enough to generate an impact negative, and viral. And now with the expansion of smarthphones, a photo or an online video, it speaks more than any action or comment and leaves it to the speculation of the general public. Not only is it a defect in the product, or a customer poorly served by one of our employees, it can also be a bad decision,or a bad judgment of a collaborator inside or outside of working hours, it is essential to remember that everything and all those who carry the banner of the company, must be and have impeccable behavior. As I develop this topic, a case not too far away that happened in Chiapas comes to mind; An employee of a cafeteria located in San Cristóbal de las Casas, was in charge of removing the native people who entered the premises to sell typical things. On one occasion, this person made the mistake of requesting that a girl with typical clothing be removed. the region, unfortunately, the person who retired turned out to be a bachelor student (not a saleswoman), and annoyed shared her case along with a picture of what happened to social networks, the result, very harsh criticism of the company,.of many people supporting the young woman, including many who did not know the cafeteria before this unfortunate incident.
Now, for companies that focus on exporting their products, globalization has played both in favor and finding, first of all the opening of markets has allowed many companies to open or expand their sales in other regions of the world, but Also in many cases and related to business prestige, there have been cases in which companies have not been well received in other countries, because the consumer not only takes into account the prestige of the company, but also the prestige of the country of origin. It can be due to nationalism (supporting local companies) or due to the country's culture and idiosyncrasy, of only consuming the best, and being quite demanding not only with what they buy, but also what is sold.
Business prestige in Tuxtla Gutiérrez
Next, I will present the results of the survey carried out on October 21, 2014, in the downtown area of Tuxtla Gutiérrez.
The survey was carried out randomly, but it was based on an age range of 18 to 55 years, since it is a range where the highest percentage of economically active people is found.
In relation to the gender of the interviewees, the following is shown:
Study of business prestige and its value
And according to their age if the dispersion is shown:
Study of business prestige and its value
In the following symbology it will be determined thus:
Rank 1, 18-25 years
Rank 2, ages 26-30
Rank 3, ages 31-35
Rank 4, 36-40 years
Rank 5, 41-55 years
If, in the graphs below, you look for an age range of 18 to 25 years, for the masculine gender, it will suffice to search for Men 1.
Respondents were asked, when purchasing a product or contracting a service, when they take into account the prestige of the company.
Being the options
- All cases Most cases In some cases In none of the cases
Study of business prestige and its value
2. When you have to choose between 2 or more products or services, on the basis that you choose them
Study of business prestige and its value
Being the price and the prestige those that stood out the most in the results.
3. How do you determine the prestige of a company.
4. How important do you consider the prestige of a company to be?
Respondents were asked to choose the importance of prestige for a company from a range of 1 to 5, 5 being very important, and 1 not at all important.
Study of business prestige and its value
Most of the respondents considered business prestige very important.
6. In order to identify for which business sector prestige is most relevant to him, he was asked to select a sector.
Study of business prestige and its value
conclusion
There are many factors that define the prestige of a company, and only by investing and working in each of them can you achieve prestige. At the same time, there are other elements by which the consumer selects between one product and / or service, as confirmed in the survey, factors such as price, popularity, and tradition interact at the time of purchase.
This work shows that if there is a purchasing culture based on prestige, although it is not yet in all cases, and the way in which it is determined whether a company has prestige, in my opinion it requires that we get more involved, And let's not get carried away solely by the image shown by the company.
Bibliography
- Ángel Alloza, EC (2013). Corporate reputation. Madrid: LID.ISO. (2014). Iso. org. Retrieved on October 23, 2014, from http://www.iso.org/iso/home/about.htmwikipedia. (October 08, 2014). wikipedia.org. Retrieved on October 22, 2014, from
