What it means…
The way a company is thought of is through its identity, its image, and its reputation. Image--is a reflection of an organizations identity. It is the organization as seen from the viewpoint of its constituencies.
Identity—is the visual manifestation of the company’s reality as conveyed through the organization’s name, logo, motto, products, services, buildings, stationary, uniforms, and all other tangible pieces of evidence created by the organization and communicated to a variety of constituencies.
Reputation—comes from customer identity, community image, investors, and employee image.
Branding and Management makes good image and identity to have good credibility (reputation).
When consumers think of different companies, the feeling the person gets is due to the image the company portrays, the identity, and what the companies reputation is. The reason some companies thrive in the consumers minds is because they have a strong management team that increase the image, identity, and reputation of the company.
How Companies are recognized:
Companies are recognized by the color, and shape of the building, the color and image of their logo, and the words that make up their tag lines. They are recognized through out the world by all of these. They make up business cards, stationary, magazine, and television advertisements that use the color and design they picked to represent their company. There are many companies’ logos that are identified by just the logo that represents them, McDonalds, Wendy’s, FedEx, Ford, Ohio State Buckeyes mascot, and the Bud Light logo.
Examples:
McDonalds: When people think of McDonalds they first think about the Golden Arch. This is a sight that is known around the world for the company. It is the logo recognized by all, children, and adults.

McDonald’s reputation is good because of the things they do for the community including the Ronald McDonald fund. Ronald McDonald is another visual aspect that everyone recognizes as being linked to the company.
Ford: When people hear the word, they think of trucks. They think of men and the country. They link Ford with built strong vehicles that are safe. “Built like a Rock” is the tag line of Ford Trucks, this stands for a strong vehicle that will be reliable.
Links:
There are a few links that I am providing that have helped me better understand why image, identity and reputation are so important for companies. Image, identity and reputation can not be built in a day, or a week, or a year, they are a continual process striving to get the perfect logo to identify your company and making sure it works.
http://englishimpact.com.mx/Community_responsability/Corporate%20reputation,%20Image%20and%20Identity.pdf
http://www.morrisseyco.com/insight/pdfs/MVRv6_1.pdf

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