The value of feasibility studies in corporate reputation management : an exploratory investigation

Lloyd, HLE

Abstract

Normally, feasibility studies would be commissioned for industrial projects to assess
the worth of undertaking them, in terms of their content, timing, costs, and internal
and external stakeholder and environmental influences. The study concentrates on the
corporate communications and public relations working environment, and uses the
various elements of a feasibility study as a basis for investigating the extent to which
the same or similar principles are used, or are applicable, or both, to corporate
reputation management.
The fieldwork phase of the study was conducted using an iterative, interpretive
approach, consisting of two rounds of unstructured interviews. This type of research
method was selected for its flexibility which matches the exploratory, developmental
and unpredictable nature of the research.
Several parallels were drawn between feasibility study elements and corporate
reputation management, in particular the importance of maintaining stakeholder
contact; looking at other organisations' experiences; paying attention to corporate
objectives, culture and values; business operations; costs and benefits; timescales and
resource; environment and risk identification and the strategy for resolving them.
During the course of undertaking this research I discovered that one of the potential
drawbacks identified with using feasibility studies was some lack of understanding of
the formal and informal mix of processes among interview respondents within a
corporate communications or public relations environment. This could also suggest
that this type of environment is unsuitable for a rigid process due to its responsiveness
and fluidity. I would argue, however, that feasibility studies are very adaptable and
flexible and as a consequence, they can be regularly brainstormed and reviewed
throughout a project's lifecycle. This can also apply to corporate reputation
management concerns, since failure to regularly review these issues can result in
manager being unprepared if a crisis hits.
I believe that my research clearly shows that feasibility study principles, to a greater
or lesser extent, can be applied to event management as an indicator of the robustness
or otherwise of a firm's corporate reputation management. It also demonstrates that,
despite their apparent incompatibility, the two disciplines of corporate
communications and project management can comfortably co-exist, both
academically and corporately.

Citation

Lloyd, H. The value of feasibility studies in corporate reputation management : an exploratory investigation. (Thesis). Salford : University of Salford

• Thesis Type: Thesis
• Deposit Date: Oct 3, 2012
• Additional Information: Access Information : At the author’s request this item is not available. You may be able to access the hard copy by visiting the University of Salford Library
• Award Date: Jan 1, 2008