Following previous theory and research (Dutton and Dukerich 1991, Dutton et al. 1994), we posit that the industry’s collective identity is shaped by its image. Industry image is defined as the industry’s internal perception of how outsiders think about them, their values, and their beliefs (Dutton and Dukerich 1991) as distinct from the industry reputation, defined as the status ascribed to the industry by outsiders (Fombrun and Shanley 1990). While image results from internal sense-making (Gioa and Thomas 1996), reputation results from external attributions
(Hoffman and Ocasio, 2001:416)
Hoffman, A. and Ocasio, W. 2001. Not All Events Are Attended Equally: Toward a Middle-Range Theory of Industry Attention to External Events. Organization Science, Vol. 12, (4), pp.414-434.