Midterm Exam Answers.docx

There are a lot of challenges facing a new leader

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There are a lot of challenges facing a new leader coming into the 21 st century between strategy, image, identity, and social responsibility. First and foremost, the biggest challenge affecting all of these is social media and effective communication strategy. I think for a leader or CEO to be successful in today’s world and uphold their reputation, identity and image is by backing him or herself with teams specifically for social media interaction, as well as, effective communication strategies which encompasses crisis management. Many companies today are reactive rather than proactive in gaining support for social media needs, or they don’t have specialized social media teams. Setting both of these teams up to support can help the company maintain and uplift both its image, reputation, and identity. Some examples of how social media can boost a brand as noted by Popali, “By using social media, companies now can create strategies after they analyze the analytics to understand the target consumer’s demands and likes/dislikes” (2017). Companies are creating focused market groups just by using social media by creating hashtags or tag lines that the internet can use repeatedly. By creating these virtual networks of not only the products for a company that resonates with identity, you can link it all together by creating positive brand image and a marketing strategy based around the fact that products don’t exist separately. All of this in one cohesive motion can propel a company from a startup brand to threatening some of the large corporate titans. Take for example the company Honest, which launched in 2012 as a company that “began with a simple desire: to make the right choices for our families. We were parents in search of safe options, but unsure of where to turn” (Honest.com). Founded by Jessica Alba and sold on the fact she wanted to provide safe products to families to give them peace of mind. Honest according to Forbes.com, “In 2012, its first year selling products, it hit $10 million in revenue. By last year [2014] it was $150 million, and industry insiders are predicting over $250 million this year” (2015). This company has affected the way bigger companies, such as, Johnson & Johnson, Unilever, Pampers, etc. are doing business. Honest has gained a lot of market share that bigger Fortune 500 companies never expected to see, and how did they do it…social media. Not only did they have a great (and famous) brand ambassador they did all their marketing and advertising via social media. They ran polling and focus groups via Instagram and Twitter and continue to gain more millennial moms by joining the “in crowd”. Honest has created not only a strong social media strategy, but an identity through safe products and an image to the public that is one in the same. They also within their brand image tackle the point of social responsibility, this is where the product doesn’t just stand out on its own. According to Honest.com “We're a wellness brand with values rooted in consciousness, community, transparency and design. And we're on a mission to empower people to live happy, healthy
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  • Spring '10
  • Dr.Thomas
  • Corporate social responsibility

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