Research On The Relationship Between The Performance Of Social Responsibility And The Damage And Repair Of Reputation Of Mengniu Group

In recent years,the reputational damages caused by the quality and safety issues of Chinese companies have emerged in an endless stream,especially in the consumer goods industry,the issue of product quality and safety is a core social responsibility issue for the consumer goods industry.And today,as information becomes more and more rapid and transparent,the reputational effects of listed companies are further amplified,companies need to fulfill their corporate social responsibility to maintain their reputation.Although profitability can enable companies to survive and develop and bring management and management motivation tomanagement.Moreover,the fulfillment of social responsibilities by enterprises will certainly bring certain short-term costs to enterprises.However,a large number of literature studies have shown that,from a long-term perspective,if the lack of corporate social responsibility is exposed,then the corporate reputation will be damaged and produce a series of bad social and economic consequences.It will even threaten the survival of the company.The active fulfillment of corporate social responsibility can restore the reputation of a damaged company to a new height and become a specific resource for the company.Based on t he information asymmetry theory,stakeholder theory,corporate social contract theory and corporate reputation theory,this article organizes and comments the existing literature on the management motivation,process and economic consequences of corporate reputation,and the relationship between corporate reputation and corporate social responsibility.Then,the relationship between corporate social responsibility and corporate reputation is expatiated both pros and cons,and the mechanism of the repair of enterprise reputation through fulfilling corporate social responsibility is analyzed,which provides the theoretical basis for the case part of the article.This article takes Mengniu Group as the research object.Mengniu experienced a series of product quality and safety incidents ranging from the ‘melamine incident' to the ‘aflatoxin' incident,and so on.It exposed that the inside story of the great deficiency of core social responsibility of Mengniu.It's reputation was seriously damaged.The enterprise was in jeopardy.Internal and external pressures urged Mengniu to develop and implement longterm and short-term social responsibility plans to repair corporate reputation.Judging from the current capital market reaction,the short-term restoration has a definite stop-loss effect on Mengniu's reputation,but the reputational damage has not improved.From the third party evaluation of the medium and long term operating performance and its own steady recovery situation,Mengniu's final reputation has been restored.The Mengniu Group's initiative in assuming and fulfilling its social responsibilities,as well as the different stages of social responsibility fulfillment programs at different stages,not only can repair the damaged corporate reputation,but also have a positive effect on Mengniu's economic value and social value.This research has positive significance for Chinese enterprises,especially the consumer goods industry.Attaching importance to social responsibility has an important impact on corporate reputation and it can improve the domestic and international image of Chinese enterprises.