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

Sample Structure for Corporate Communication 3-3

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

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

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

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

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

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

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

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

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

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

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

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.