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Chapter 3 An Overview of the Corporate Communication Function

Chapter 3 An Overview of the Corporate Communication Function. 3- 1. What is Corporate Communication?. A department with many functions A process to communicate key messages An attitude or set of mental habits A set of communication products. 3- 2.

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Chapter 3 An Overview of the Corporate Communication Function

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  1. Chapter 3An Overview of the Corporate Communication Function 3-1

  2. What is Corporate Communication? • A department with many functions • A process to communicate key messages • An attitude or set of mental habits • A set of communication products 3-2

  3. Sample Structure for Corporate Communication 3-3

  4. Communication heads report to? • Chairman/CEO/President 45.6% • Head of Marketing 31.6 • Other 14 • Chief Operating officer 4.8 • Chief of human resources • Chief financial officer • General Counsel

  5. Title of Senior Corp Comm Exec • Senior VP 17.1% • VP 31 • Director 26.3 • Manager 17.1 • Other 8.3

  6. Functions Within the Function • Corporate image and identity • Marketing communications • Media relations • Investor relations • Internal communications • Corporate advertising and advocacy • Government relations • Corporate Social Responsiblity 3-8

  7. CORPORATE COMMUNICATION • Functions of Corporate Communication • From Pr to Corporate Communication • - To centralize or decentralize communication • - The functions within the function

  8. CORPORATE COMMUNICATION Managing Image, Identity and Reputation -What is image and identity -Using image and identity to strengthen the corporate communication function -Building a solid reputation -Is Corporate Identity a trend -Differentiating organizations through image and identity

  9. CORPORATE COMMUNICATION Managing Media Relations -still central to the corp comm unit -actively set the discussion agenda of the firm in the media -Technologu advancement -Rely on one another, make the best of these relationships

  10. CORPORATE COMMUNICATION • CORPORATE ADVERTISING/ADVOCACY • Selling company, not product • Influence public opinion and facilitate for approval for increase or allocations in the budget, etc • direct from CEO’s office • Fastest growing segment of the advertising industry • Issue advertising – famous but risky

  11. CORPORATE COMMUNICATION • CORPORATE RESPONSIBILITY • Socially responsible – more likely to purchase and recomment • Internal implications – less likely to leave, “job will make a positive difference in society • Corporate philantrophy – more than just give back to the community. Obligation to donate funds to organisations that could benefit the firm’s stakeholders. Eg: fund research • environmental

  12. CORPORATE COMMUNICATION • Investor Relations • Fastest-growing subset, an area of intense interest • Move from “just the numbers” to the way numbers are communicated • Shareholders and securities analysts (source for financial media) • - Coordinated effort between comm professionals and vp finance

  13. CORPORATE COMMUNICATION • Employee Communication • Retaining a contented workforce • Changing values and demographics, must plan strategic internal comm • employee trust and loyalty • Sensitive messages by VIPs only • Blurring constituencies lines – employee, investor, members of community advocacy group at the same time

  14. CORPORATE COMMUNICATION • Managing Government Affairs • More important in some industries than others • Benefit by having ties with local and national legislators • Lobbying • Government affairs efforts

  15. CORPORATE COMMUNICATION • Managing Communication in a crisis • - Communication professionals in crisis planning and crisis management • Legal agenda – shortsighted and costly • Communication strategies – consider how actions might be perceived by constituencies. • - Working collaboratively – in house counsel and corp comm professionals.

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