The Research Of Chinese State-owned Enterprises' Reputation Capital Management

Recently, World Economic Forum and Fleishman Hillard International Communications have been conducting a survey of 132 transnational corporations and the result indicated: reputation capital of enterprise has exceeded financial performance, and become important target to judge whether a corporation is successful. Reputation capital management, as the carrier of all managements in corporation, is a new thing to modern enterprise management, and also a new weapon to competition among enterprises. In the context of economic globalization, increased competition led scholars to explore the driving force of sustainable competitive advantage, and research fields have been extended from tangible assets to intangible assets, many specialists and scholars expressed their views and recommendations on the reputation capital management from different angles.This paper studies on the status of the reputation capital management of Chinese state-owned enterprises, and explores the measures to improve reputation capital management of Chinese state-owned enterprises, which will help the state-owned enterprises to effectively manage the reputation capital, and gain competitive advantages in the fierce market competition. Enterprise is an organization made up of people, corporate reputation relys on the positive response from all staff, their good image helps the accumulation of reputation capital for business; Corporate vision is the forward-looking of the future direction of enterprise development, and any proactive corporation would expect the importance of reputation capital management for development of enterprises in long-term; Media is a double edged sword, it can accelerate the spread of the negative news which is detrimental to corporate reputation, as "destructive force", and it can also help to spread the positive news which is conducive to the accumulation of corporate reputation; It takes about four years to reconstruct the damaged corporate reputation, while it needs a longer time to repair an outstanding corporate reputation. Based on these ideas, we believe that in order to establish a high capital reputation in Chinese state-owned enterprises, we must mobilize all staff of state-owned enterprises to join in the management of reputation capital, pay attention to the reputation capital management in media communication, focus on the management in the crisis, and foster a sense of responsibility to the citizens of State-owned enterprises for the management of reputation capital.This paper reviews the different views and perspectives on reputation capital in theoretical literature, and sort out, and based on them, summarize the theory of reputation capital management. As a case study, this paper research on the reputation capital management of China National Petroleum Corporation (CNPC) and the Haier. We hope this study will contribute to both the theory and actual application of reputation capital management.