Importance Considering the saturated market and high competition, import substitution needs, Russian businesses should create and develop a positive image, which would be the most vital condition for the successful activities. The positive image will ensure a number of undisputable competitive advantages for the company and contribute to performance efficiency improvement. High business reputation will help to raise a positive awareness of the target audience and interested parties (consumers, investors, shareholders, personnel, creditors, mass media and so on). Thus, the company will strengthen its market position by attracting and retaining consumers. Therefore, the corporate image gets even more important in the current circumstances making the top executives and staffs ensure a deliberate management, plan events and activities to develop it. Objectives The study pursues the formulation of theoretical provisions and methodological and practical recommendations to improve the corporate image. Following the tasks, the study will clarify the definition and specific aspects of corporate image, devise the methodological approach to evaluate the corporate image position, set up the integral indicator of the corporate image and classification of industrial enterprises using the integral indicator. Methods The hierarchy analysis method is a reasonable tool to solve multiple criteria tasks concerning hierarchical structures, including a complicated system of factors, which influence the decision making process concerning the improvement of the Russian enterprises' images. Results The study has defined corporate image as a subjective business characteristics shaping the entity's image (positive or negative) that exists in the public mind as a result of interacting with the entity and has a significant impact on the performance results. The study has identified internal and external factors influencing the development of the corporate image, formulated and tested an algorithm for the corporate image evaluation. The authors have modeled the multiple criteria evaluation of the corporate image using the hierarchy analysis method based on indicators that describe the productivity of efforts in the best possible way. Conclusions and Relevance The authors conclude that the results may become the basis to formulate a strategy for business management and improvement of the policies of relationships between industrial enterprises and consumers.
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