A COM 378 Lecture Notes - Lecture 4: Newater, United Nations Global Compact, Multistakeholder Governance Model

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26 Apr 2016
Department
Course
Exam One (60 Points):
2 Matching sections (17 Points)
o9 tools & techniques for external corporate communication
Definition/Characteristics
Crisis Communication: The response when an organization’s
people, or its physical, financial, and intellectual assets come under
threat, as well as the organization’s reputation.
Corporate Citizenship & Sustainability: A long-term business
strategy, which returns on investment, growth, and transparency,
that publicly discloses the corporation’s economic, environmental,
and social performance to show that the corporation is competent
in meeting global and industry challenges. The new corporate
mandate states “corporate citizenship is the acceptance of the
corporation’s role as a responsible and significant member of its
community.”
Media Relations: A relationship building and reputation
management technique that is used to communicate, sometimes
both ways, a corporation’s contributions and actions.
Social Media & Corporate Blogging: A newly birthed technique
that a corporation can use to signal what they are interested in and
invite response to create discussions of mutual interest and benefit.
Reputation Management: A formal or semi-formal system that
includes both defensive and offensive elements that attempts to
improve a companies’ standings through a “campaign” approach.
Thought Leadership & Executive Relationship Management: The
CEO’s active presence as a visionary for the company, to meet the
challenges of the technological and economic uncertainty of the
contemporary business environment. This demonstrates to their
stakeholders that they understand where the world is going, and
that they will not be left behind in a decaying backwater of their
industry.
Investor Relations: “A strategic management responsibility that
integrates finance, communication, marketing, and securities law
compliance to enable the most effective two-way communication
between a company and the financial community and other
constituencies, which ultimately contributes to a company’s
securities achieving fair valuation.” – According to the National
Investor Relations Institute. The SEC legally requires a company
to produce an annual report that must have the following elements:
oThe Auditor’s Report
oManagement Discussion & Analysis (MD&A)
oFinancial statements and notes
oSelected financial data
oCompensation Discussion & Analysis (CD&A)
oFinancial highlights
oLetter to stockholders
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oCorporate message
oReport of management
oBoard of Directors & Management
oStockholder information
Transparency & Disclosure: The use of straightforward language
to disclose material information. Information is material if its
disclosure is likely to have an impact on the price of security, or if
reasonable investors would want to know the information before
making an investment decision.
Transaction Communication: Written, oral, electronic, or any other
communications relating to the proposed merger transaction that
are transmitted to a large audience, whether internal or external. It
is not intended to cover daily communication among co-workers.
oPath to Corporate Responsibility
5 Stages of social responsibility
Defensive
oDeny practices & responsibility
oProtect & defend reputation for the short term
o“It’s not our job to fix that.”
Compliant
oFollowing industry standards
oMitigate erosion of economic value for the medium term
o“We’ll do just as much as we have to.”
Managerial
oPut issues into management process
oPrevent erosion & achieve longer term gains
o“It’s the business, stupid.”
Strategic
oPutting societal issue into core business practice
oEnhance long term value
o“It gives us a competitive edge.”
Civil
oIndustry involvement
oFirst mover
oCollective action
o“We need to make sure everybody does it.”
4 Stages of issue maturity
Latent
oActivists
oNGOs
oLittle science
Emerging
oPolitical & media awareness
oWeak data, but emerging research
oSome businesses make changes
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Consolidating
oEmerging business practices
oVoluntary initiatives
oLitigation
oCollective action
Institutionalized
oLegislation
oEmbedded practices
Multiple Choice (23 Points)
oForces transforming corporate communication today
Media democratization
Emergence of NGOs
oActions professionals can try to adopt
The amount of information relevant to corporate communication requires
tenacious pursuit of intellectual competence in the field
The daunting skepticism about corporate business practices demands
constant and consistent demonstration of ethical understanding and
awareness
The complexity of operating in a multinational business environment with
numerous constituencies calls for professional expertise and familiarity
with research tools and techniques
Rapid changes in technology and in global business practices require
creative strategic integration of knowledge to “connect the dots,” to see
the patterns that others do not
The growing perception of corporate communication professionals as
counsel to the CEO and the corporation suggests the nurturing of
leadership capabilities – in effect, a leader is someone who will take you
to a place you would not go by yourself
The transformational impact of social media, Web 2.0, and the semantic
Internet requires corporate communication professionals to cultivate
media and technology literacy and expertise
The corporate network capability demands that companies and their
communication professionals be global through strategic intercultural and
global communication
A corporate communication professional must be a problem-solver
through strategic decision-making, every minute and on every task
As the voice of the corporation, a successful practitioner must attain
advocacy competence to become the best advocate for the company
oDefinition of Corporate communication
Communication that is used to ensure that the corporate can operate as
freely as possible
oLudlow Massacre
Colorado mine
Strike – Violence – 24 dead
John D. Rockefeller Jr. turns to Ivy Lee for Public Relations help
J.D. Rockefeller Jr. visits the site
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