[COM CM 313] - Midterm Exam Guide - Everything you need to know! (38 pages long)

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COM CM 313
MIDTERM EXAM
STUDY GUIDE
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CM313 Corporate Communication
1
1.25.16
- Follow Fortune 500 Company
- stake holders = reputation
- Exams: short answer and essay (20/20)
- Brands we love and why: Toms (style, what the company represents), Nike (established
themselves: greatness, be the best, empowering), Netflix (maternity leave), Amazon
(good customer service), Coke (hometown brand, advertisements), Trader Joes (cheap,
good frozen food), Jet Blue (snacks, leg room, efficient), Dove (new campaign is
wonderfully done, Real Beauty), Ben & Jerry’s (CSR, awesome vibe), Airbnb (worth it,
less expensive, cool apartments)
- Brands we hate and why: Verizon (bad customer service, billing), Comcast, RCN, Whole
Foods (high priced, fake health food), United Airlines (expensive, air crafts are bad),
Walmart (image problems)
- stakeholder: someone with invested interest in the company; example: employees,
executive board, investors, consumers/customers, trade organizations, ngos, government,
competitors, suppliers
o example: sells smart water (owned by coke), customer is walmart, consumer is
you
- Why love them why hate them (the brand)? (stakeholders)
- Group Exercise:
- Walmart (why should people love them)
o consumer: can find in many countries, chain so reliable, consistent products,
cheap prices, can buy in bulk, convenient, one-stop shopping (location, selection
and price), hours are good (some are open 24 hours), has pharmacy, can buy
online or in store, interactive had like 5 twitter handles
o employees: mentoring programs, leadership courses, and associate resource
groups, helps educate managers, provide lots of jobs, discounts, health care plans,
75% of store management teams started as hourly associates
o CSR: Walmart Foundation and $2 billion commitment to fight hunger in the us,
working to become environmental friendly, pressured suppliers to drive savings
and be environmentally friendly
o investors: stability and brand name (increased revenue and profit and earnings per
share in the past 20 plus years), focused effort on continuous innovation
(introduced a scan and go app to help people shop and is investing in e-
commerce), global diversification (in South Asia)
- how do you apply strategy to communication
2.1.16
- changing environment of corporate communication, case studies
- brands you love, brands you hate, stakeholders, stakeholders (employees to customers to
ngos) can effect brand reputation
o example: Volkswagen, CEO lost his job, reputation was affected, shares went
down, consumers still love their Volkswagen, but can others trust the brand?
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CM313 Corporate Communication
2
- don’t take your reputation for granted
o example: Chipotle, bringing to light a lot of challenges around the food system,
six months worth of health issues (neuro virus to ecoli), trust of consumers is low,
supposed to be food with integrity”, sales impacted
o example: private jets, massive bail outs, had to leave Michigan
- why were companies not even trusted?
o (American history) huge disparity in wealth, farms turned to cities, the wealthy
had summer homes, Rockefeller, Carnegie, Mellon; workers were exploited to
extremes, mistrust of large corporations and industries; immigrants built rail
roads, factories where kids worked
- 1920s the height, we jump to WWII
- working conditions, anti-trust laws were formed because commerce shouldn’t be
controlled by five people, making sure you can’t make monopolies, laws around hours
and standards, FDA part of the jungle” companies over stepped their boundaries
- why are there tobacco laws?
o Thank you for not smoking” documentary about tobacco executives how they
plan out marketing strategies to make tobacco look as good as possible; tried to
cover up research about tobacco killing people
- new legislation in new york about sodium, big gulp being too big, is obesity a bigger
issue than tobacco? hard to say
- WWII and Vietnam: B&W’s role in the German military, agent orange its a chemical and
Dao Chemical developed it... what’s the role of companies in relation to human health,
the environment, and their support of military campaigns? potential impacts in terms of
reputation
- 2000, Enron, Worldcom, manipulating the energy markets to drive sales, pretending their
was a shortage
- 2007, 2008, accounting laws from misdeeds, housing bubble burst, loans that had balloon
pins (0% for 18 months, jumped to 26%) people couldn’t pay for it to begin with, were
giving it to people without stable incomes, inflated bubble
- everything is reinforced by pop culture and movies, companies are not necessarily to be
trusted, 1968 people loved companies, but now they are less trusted than Congress
- how do I protect the reputation of the company when their actions aren’t up to par? what
are the things you place bets on? how do you benefit the brand to attract talent, etc.
- drivers:
o globalization: changes the clients, the markets, etc. need to know how to sell on a
global scale, being involved with a military is not a good idea
o competition for commodities: limited resources (oil, gas, energy, labor, natural
resources- wheat, corn, etc.)
o environmental problems/droughts: massive global issue, water is at the core of
most products
o health issues: emerging issue affecting future work forces
o changing communication: a ton of misinformation in market place, technology,
people learn about things quickly
o expectation of transparency: in reporting, responses, etc.
o rise of activism: ngos or sris (socially responsible investment funds- investors
give guidance without regard to their values)
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