Impact of corporate reputation (image) on the levels of foreign funding: a case study of Kenya Medical Research Institute (KEMRI), 1989-2009
Mkoji, Davis M
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Corporate image of an organization is the impression created to the general public and other stakeholders according to the level of knowledge, information and understanding of facts about the organization. This relationship has traditionally been focused on operational and financial performance of an organization. This study investigates the relationship between corporate image and the level of foreign funding. Using KEMRI as a case study, a content analysis of press cuttings, image surveys and interactive interviews were used to analyze the Institutes' image before this was considered against the levels of funding the Institute has received since 1989. The results confirmed that corporate reputation is vital for both the survival of the firm in the long run, and financial performance especially in the case of a donor funded organization. However, the findings also show that the relation between reputation and performance is not always as straightforward because of the wide range of other intervening factors. The study concludes that, if management of an organization continue to attract donor funding, it is imperative for that organization to cultivate a strong and positive stakeholders' image of the organization.The study found that many other factors, are however, at play including communications policy, corporate culture among others that affect the actual outcome of the interplay between a corporate image and ability to attract and maintain foreign or donor financial support of an institution. The study recommends various measures that are needed to ensure that KEMRI as an organization continue to strengthen its public image for sustained high levels of donor funding in future.