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Chapter 13 Reading Notes

“Corporate responsibility must evolve from being seen as an unwanted cost to being recognized as an intrinsic part of a healthy business model, an investment that creates competitive advantage and helps a company achieve profitable, sustainable growth.”

– Demonstrating corporate responsibility is a key challenge for business leaders, and effective communication is a central element of every successful corporate responsibility program.

– Corporate responsibility means meeting the expectations of stakeholders; it goes beyond philanthropy and legal compliance.

– The first challenge is defining corporate responsibility. Companies use “corporate responsibility,” “corporate social responsibility,” “corporate citizenship,” “business ethics” and “sustainability” interchangeably to describe corporate initiatives ranging from philanthropy, to legal compliance, to social and environmental programs.

The business case for adopting responsible corporate practices includes:

  • managing and mitigating risk
  • protecting and enhancing reputation, brand equity and trust
  • attracting, motivating and retaining talent
  • improving operational and cost-efficiency
  • ensuring a license to operate
  • developing new business opportunities and
  • creating a more secure and prosperous operating environment

Source: Reputation Management

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Chapter 12 Reading Notes

Effective crisis response––including both in what a company does and what it says––provides companies with a competitive advantage and can even enhance reputation. In particular, companies that handle crises well tend to protect those things they hold most dear, including:

  • Stock price
  • Operations
  • Employee morale and productivity
  • Business relationships
  • Demand for their products
  • Support of public policymakers
  • Strategic focus.

– Whether a company survives a crisis with its reputation, operations, and financial condition intact is determined less by the severity of the crisis––the underlying event –– than by the timeliness and quality of its response to the crisis.

– The single largest contributor to reputational and other harm in the aftermath of a crisis is perception of indifference, especially when there are victims.

Source: Reputation Management

Chapter 11 Reading Notes

Issues Management Overview

Issues management is a corporate process that helps organizations identify challenges in the business environment—both internal and external—before they become crises and mobilizes corporate resources to help protect the company from the harm to reputation, operations, and financial condition that the issue may provoke. Issues management is a subset of risk management, but the risks it deals with are public visibility and reputational harm.

The elements of a typical issues management structure are:

1. Governance.  There needs to be some senior body to whom the standing issues management team reports.  That governance structure is responsible for review and approval of major recommendations and plans; identification and assignment of resources to manage issues; and supervision of the work of the issues management team.

2. Issues Management Team.  This is a standing group of people who represent core functional areas across the organization (e.g., legal, manufacturing, human resources, public relations, marketing/advertising, sales, security, administration, information technology, etc.).  It meets on a set schedule, and also whenever a pressing or breaking issue warrants.

 

Source: Reputation Management

Chapter 10 Reading Notes

Web involvement allows marketers to better understand two key positioning questions:

(1) Who are the potential customers, and (2) does the product fit their needs? Answers add to traditional demographic, geographic, and lifestyle information. The process is abbreviated as STP: segmentation, targeting, and positioning. If a firm can solve its positioning problem, it can address its marketing mix.

Effective persuasion

Organizational behavior professor Jay Conger pointed to four essential steps in effective persuasion: (1) establish credibility, (2) frame your goals in a way that identifies common ground with your audience (positioning), (3) reinforce your position by using vivid language and compelling evidence, and (4) connect emotionally with your audience.

 

Source: Reputation Management

Chapter 9 reading notes

Global Model.

―Global public relations superimposes an overall perspective on a program executed in two or more national markets, recognizing the similarities among audiences while necessarily adapting to regional differences. It connotes a planning attitude as much as geographic reach and flexibility.

Multinational Model.

―International PR practitioners often implement distinctive programs in multiple markets, with each program tailored to meet the often acute distinctions of the individual market.

The Global Corporate Communication Role

Most global corporate communication practitioners have responsibility for the following functions:

  • Employee communication
  • Media relations
  • Corporate identity and brand management
  • Public and community relations
  • Crisis communication
  • Public affairs /Government relations
  • Investor relations
  • Annual report and other publications
  • Corporate social responsibility/sustainability/philanthropy
  • Influencer relations (industry analysts, academia)
  • Executive positioning
  • Corporate publishing and production including Web site

Source: Reputation Management

Chapter 8 reading notes

What Is Investor Relations?

IR is most often employed by companies whose shares are held and traded by the public. Privately owned companies may also use IR in circumstances such as when they have bonds trading on the public markets or when they are owned by a dispersed group of private shareholders.

Why Do Corporations Exist?

The corporation is the dominant form of economic organization in the world today.

shareholders have two rights:

1. the right to select individuals to represent their interests who in turn to direct the CEO and other senior managers on what to do

2. the right to have access to a steady, accurate stream of information about the company and its actions.

 

Source: Reputation Management

TOW #11

Public Speaking can be a really scary thing. I personally do not enjoy it one bit. But there are ways you can overcome that fear. Here are some tips to help you be the best public speaker you can be.

1. Gather your Facts – It is never good to go into a presentation not knowing what your talking about. Hopefully if your giving a presentation in the first place, you know a little something about the subject your presenting. If you do not, do your research. Find facts about the presentation and look deeper into those facts. Gather your own thoughts on the information so that you can expand on the topic with your own opinion.

2. Dress the Part – It is always nice to dress professionally during a presentation. People will listen to you more if they think you are coming off professional. This even means your look. You do not want to go into a presentation wearing sweatpants and a t-shirt. If your audience things you don’t care, they wont care.

3. Have some Visuals – Visuals can always help add that little extra something to a presentation. It keeps your audience’s attention and gives them visuals to view alongside your presentation. Powerpoint slides are great visuals to use!

4. Speak Clearly – Speak loud and clearly when presenting. Make sure everyone in the room can hear you, even those in the very back of the classroom. Also, do not rush your sentences. Make sure every sentence seems important and you take your time on each.

5. Eye Contact – Maintain eye contact throughout the entire presentation.

6. Ask questions – Ask questions to your audience members. Get them involved in the presentation to not only keep their attention, but to give you a breather!

7. Organize – Make sure your presentation is organized and has a great flow to it. Keep subjects consistent and within the same topic.

8. Make an outline – sometimes its good to do an outline of your presentation. It keeps you on track and helps you remember the important stuff.

9. Practice – Practice makes perfect! Do not forget to practice your presentation a few times before presenting it. It will give be confidence during the presentation and you will not feel that terrible feeling of “procrastination”.

10. Have fun – Do not forget to have fun! Even if you hate public speaking, make the best out of it! It is your time to shine and speak your mind! The attention is on you, and have fun with it!