Universities Approach to Environmental Sustainability and How it Enhances Their Brand Values
There are many debates that seem to capture the attention of the world quite as spectacularly as Environmental Concerns have. The ultimate result of such a mass attention to a topic has meant that much media coverage besides the administrative and Government Level Attention has been given in this direction, with the ultimate aim of finding a solution of curbing this problem that can go on to effect the entire humankind.
Therefore it is not surprising at all that this awareness and the concern regarding the Environment has meant that there has been an overall change in the way Institutes, no matter of what category, deal with this issue. This awareness has also meant that there has been an overall change in the way policies are drafted which can impact the image of such Institutes.
Today the concept of Environmental Sustainability is more or less found in all major cooperation's and Institutions and steps are being taken to make it more and more part of the policies so that its effects can be felt and seen across the board (Brown, 2005). The World Bank defines Environmental Sustainability as,
"Ensuring that the overall productivity of accumulated human and physical capital resulting from development actions more than compensates for the direct or indirect loss or degradation of the environment" (World Bank, n.d.)
This awareness and its implications have become quite apparent especially in the fields of Art and Architecture. Today many projects, both in the Commercial and Residential categories are taking the green road and including Sustainability as a must have factor. This aspect tends to have a double meaning to the image building of a Project and therefore it is not surprising that 68% of the Fortune 250 companies now publicly report about their social and environmental initiatives besides their financial performance (Strandberg Consulting, 2009). The impact of this step has been seen on the financial indexes as well with the Dow Jones Sustainability Index performing 36.1% better than the traditional DOW Index. This is a direct repercussion of the fact that employees and customers both want to be associated with a company that has a fine reputation for serving them the best while having an Environmental concern. This has meant that a clear market driving force has been at play and therefore the apparent impact on the way companies have been doing business is visible.
Branding:
It is therefore there has been a visible change in the way products market themselves and how they tend to brand themselves. The concept of branding has been one of the most fundamental tools in the world of marketing and Cooperation's and has gone a long way in making or breaking a product. The correct branding and promotion of a brand can not only make it a desirable household man but can even go a long way in instilling an emotion of loyalty between the customers and the product in itself.
Branding as a concept has been defined as a way of identifying with a product or even an institute for that matter. As a concept it goes on to relate to more than just the logo and even goes on to include the services and benefits that one may get upon interacting with that brand.
The concept of branding is not only about selling the product, but is in a fact about the entire persona that can be associated with a brand. A brand today is marketed as an intangible item associated with the very personality of the person and how they are perceived upon the use or the purchase of that brand (JWT Education, 2006).
Branding the Educational Institutes:
The Educational Institutes in the Western Hemisphere are all big institutes with even the smaller units having budgets equivalent to that of a third world country, amounting up to millions of dollars, while those of the larger universities can go up to billions (Toncich, n.d.).
The University and the Educational Sectors have more or less been very stable markets for a considerable period of time, however the recent changes in the economy has meant that many Universities are now facing budget cuts. The impact has been felt by most of the European Countries including Latvia, which was among the first one in having its budget cut, to Czech Republic, Denmark, Greece, Italy, etc. (European Universities Association, 2011).
This has meant that Universities have had to employ new means to sustain themselves in such times. Branding has been one of the most important steps in this regards that have been taken up by universities all...
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