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Corporate personality - Essay Example

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Summary
During the contemporary period, businesses operate in a dynamic and competitive environment whereby they seek to gain advantage in terms of market share over the other competitors. Against this background, it can be noted that businesses strive to create unique brands that will…
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Corporate personality
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Corporate personality

Download file to see previous pages... ive Officers (CEO) of large corporations as well as marketing managers of even smaller organisations are not hesitant to spend large sums of money in creating brand awareness through advertisements which also helps create the identity of the organisation among its customers. Against this background, it can be noted that the concept of “corporate personality” is topical and is indispensable especially to organisations which are seriously concerned about making profits as well as ensuring their survival and viability in an environment characterised by stiff competition.
In order to get a clear understanding of the concept of corporate personality considering the attitude of the courts to this important part of company law, it is imperative to begin by explaining what corporate personality is. Corporate personality is mainly concerned with establishing and maintaining the identity of a company (Gibson 1998). This involves creating the brand name or logo of the company which will be used as its identity to distinguish itself from the other companies operating in the same industry. In a free market, competition by various players is so intense such that there is need for companies to come up with strong brands that will make them different from the other players. This is particularly very important in that it will allow the customers to choose and identify with particular products which can help generate more revenue on behalf of the customer. This also helps the organisation to position its unique brand in the market which can give it a competitive advantage.
However, gaining competitive advantage is not the only purpose of corporate personality but there is more to that than what is generally believed by many people. The operations of different companies are guided by the legal framework obtaining in that particular country. The laws in different countries are also particularly designed to protect the citizens from losing their money when they enter into ...Download file to see next pagesRead More
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