Personal Experience
Not only do companies have an identity, image, and reputation, but so do people. When I was in high school I had an identity based on my image and reputation. I was involved in many activities such as chorus, county chorus, band, county band, newspaper, art club, yearbook staff, drama club, and a majorette. I also worked as a lifeguard in the summer time and taught swimming lessons. With those activities a certain image is portrayed. When I went off to college, I found a new identity, image and reputation. No one knew who I was. I started over. My high school was very small, so when someone said my name, pretty much everyone knew who I was. Now that I was in College, no one cared what you did or didn't do in high school. It was a new start and I could decide what kind of image, identity and reputation I wanted these students to have of me. I could decide to be in activities or put my emphasis on my school work. By joining a sorority, that also helped to develop a new identity.
References
Here are some websites that can help you understand the importance of Identity, Image and the Reputation of a company:
http://www.referenceforbusiness.com/small/Co-Di/Corporate-Image.html
http://www.referenceforbusiness.com/encyclopedia/Con-Cos/Corporate-Identity.html
http://www.mbs.ac.uk/research/corporatereputation/reputation-chain.aspx
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