THEORETICAL AND METHODOLOGICAL FOUNDATIONS OF TAKING ADVANTAGES OF SUCH BUSINESS TOOLS AS NATION’S BRANDING AND REPUTATION MANAGEMENT BY STATES

Abstract

This article is devoted to the issue of management processes related to a nation’s brand and its reputation as intangible resources. Branding and reputation management have  been used to increase the success of private companies for a long time. More recently they are becoming more and more popular for developing states power in the international arena. At the same time, the existence of significant differences between those two entities requires the adaptation of traditional business approaches to the needs of states. They should serve the strengthening of a state’s authority instead of the promotion of a company in markets. Given these differences, the authors examine a brand and a reputation as the objects to be managed as well as their multifaceted nature. The article discusses a question of the relationship between a nation’s brand and its reputation, considering the general meaning of those terms. The authors explain the phenomena of nation branding and reputation management. The article describes some theoretical and applied problems that arise when the tools of a state’s intangible resources management are used. One of the problems is the defining a target audience. The results of the study might be valuable for scholars as they continue to debate the nature of a nation’s brand and its reputation as well as for state authorities and government agencies for the benefit of the entire population.