Title: Island branding, identity and economic self-discovery: a simulation model
Authors: Michel Leseure
Addresses: School of Enterprise, Management and Leadership, University of Chichester, Bognor Regis Campus, Bognor Regis, PO21 1HR, UK
Abstract: This paper argues that challenges faced when implementing a nation brand can be better understood and visualised through a simulation approach. A conceptual model of the collective learning process triggered by branding is formulated and its properties are investigated through a Monte Carlo simulation. The implications of the model are illustrated through two different branding projects in the Isle of Man: the Freedom to Flourish brand and the development of the Isle of Man International Tax Personality. The paper shows that a successful nation branding project depends more on an effective management and support of a set of social dynamics processes rather than on formulating a brand statement accurately in the first place.
Keywords: nation branding; economic self-discovery; simulation; modelling; islands; social dynamics; island branding; collective learning; identity; Monte Carlo simulation; Isle of Man; Freedom to Flourish; International Tax Personality; brand statements.
International Journal of Applied Decision Sciences, 2014 Vol.7 No.4, pp.343 - 360
Received: 19 Nov 2013
Accepted: 15 Mar 2014
Published online: 27 Oct 2014 *