Stakeholder Management Concepts

Corporate Communications Intro

• Corporate communications is the way businesses and organizations communicate with internal and external audiences.
• Key areas include media relations, sponsorships, crisis communication, CSR communication, and international/intercultural communication.

Corporate Communications 1

• Definitions:

  • Management function coordinating internal and external communication.
  • Purpose of establishing and maintaining reputations with stakeholders.

• Characteristics & Concepts:

  • Broader focus on the organization as a whole.
  • Integrated approach addressing all key stakeholders.
  • Focus on building, maintaining, and protecting reputation.
  • Combines managerial and tactical activities.

CorpComm Key Concepts

• Mission: General expression of the organization's purpose, aligning with stakeholder expectations.
• Vision: Aspiration; desired future state of the organization.
• Corporate Objectives: Overall aims aligned with the organization's purpose.
• Strategies: Means to achieve objectives.
• Corporate Identity: Organization's profile and communicated values.
• Corporate Image: Immediate impressions of an organization.
• Corporate Reputation: Collective representation of an organization's image over time.
• Stakeholders: Individuals or groups affected by or having influence on the organization.
• Market: A defined group for whom a product is in demand.
• Communication: Tactics and media used to communicate internally/externally.
• Integration: Coordinating communication to consistently convey the corporate identity.

Corporate Communications 2 (Development)

• Phase 1 (Industrial Revolution 1930s): era of mass production characterized by a need for organizational communication officers, organized publicity, advertising, and a gullible public.
• Phase 2 (1930s-1980s): public skepticism towards big business, rise of marketing and PR departments as separate disciplines.
• Phase 3 (1980s-Present): integration of PR and marketing into a single corporate communications function.

Corporate Communications 3 (Organization)

• Evolution of communication disciplines: from distinct, to complementary, to integrated.
• Strategic Role of the CorpComm Officer (CCO): manages internal and external communications; central figure in coordinating communication of an organization.

Corporate Communications 7 and 8 (Media Relations)

• Media relations are a key communication aspect to establish and shape brand perceptions.
• Media relations help to create, strengthen, and shape public opinion.
• The need for media relations is critical for reputation and public perception of the company.
• Journalists need interesting, verifiable information, or “newsworthy” items.
• Successful communication efforts have awareness, trust, and a good understanding of the news environment; effective presentation of stories and understanding of needs of various stakeholders.

Corporate Communications 10 (CorpComm Strategy & Planning)

• Process of Communication Strategy involves bringing stakeholder reputations in line with the organization's vision and values.
• Enhances reputations of important stakeholders, aligned with the organization's vision.
• Communication strategy is the combination of tactics and activities, affecting stakeholders’ beliefs, knowledge, and behavior.
• Communication Strategies need to be based on deep understanding of stakeholders, public, and environment.

Corporate Communications 14 (Intercultural & International Communication)

• Globalization and digitalization have increased the importance of intercultural communication.
• Intercultural communication is the communication between people from different cultures, existing in today's globalized world.
• Cultural factors impact communication choices. Understanding cultural differences is essential to ensure effective communication between people from different cultures.

Corporate Communications 16 (Internal & International Communication)

• International Communication: planned and organized communication efforts to establish and maintain positive relationships with global stakeholders.
• Strategies include standardization (uniform global approach) and adaptation (country-specific approaches).
• Adaptation strategies consider contextual variables like the political and legal systems, economic development, and socio-cultural contexts of a country.

Corporate Communications 17 (Research & Measurement)

• Research plays a critical role in improving the success/performance and relevance of communication strategies.
• Measurement and evaluation are essential elements in corporate communications; essential for demonstrating the value of communications work.
• Evaluation focuses on identifying, categorizing, and measuring outputs, outcomes, and the potential impact of communications activities. Qualitative and quantitative methods both play a role to understand the full impact.

Corporate Communications 19 (Social Media Communication)

• Social media provides a platform for corporate communication enabling broader reach and dialogue.
• Social media can be used strategically for communication internally and externally.
• Platforms like YouTube, Facebook, etc., offer companies opportunities to share content with their stakeholders.
• Social media communication involves carefully planning content to achieve desired responses and engagement from stakeholders.

Corporate Communications 21 (Employee Communication)

• Communication with internal stakeholders (employees) establishes a crucial link between the organization and its employees.
• Effective internal communication fosters employee morale, engagement, and productivity which enhances organizational performance and success.
• Employee communications should be structured to manage internal and external reputations and communications.