This document is an in-depth summary of all the theory taught in the corporate communication lectures and seminars. The summary also includes summaries of the book, divided by each week. I received an 8.5 in my final exam. Everything that you need to know for Corporate Communication exam is in this...
Lecture 1 - What is Corporate Communication? (Ch. 1 & 4)
CORPORATE COMMUNICATION
- Corporate communication = corporation & corpus
- Definition → “a management function that offers a framework for the effective
coordination of all internal and external communication with the overall purpose of
establishing and maintaining favorable reputations with stakeholder groups upon
which the organization is dependent”
- Characteristics → (i) complex in nature, especially for organizations with wide
geographical range; (ii) demands integrated approach for it to be effective; (iii)
harnesses the interest of the organization at large.
Corporate Communication is integrated around one
mission/vision/corporate identity.
Public relations (until 1970s consisted of
communication with the press) vs. Corporate
Communication (focuses on the organization as a
whole and how it presents itself to the internal and
external key stakeholders).
- Aim →is to oversee and coordinate all communication employees and
departments of the organization.
- Corporate Communication is Strategic → it has to be used and managed
strategically as a way of guiding how organizations can communicate with
stakeholders. Communication professionals decide on the strategy of how the
organization is going to look in the eyes of key stakeholders and possible customers.
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- Corporate reputation → the collective evaluation of an organization (induced
though either communication or past experiences) established over time.
The sustainability and success of a company depends on how it is viewed by key
stakeholders and communication is a critical part of building maintaining and
protecting such reputations.
Good reputation can buffer the organization (give the benefit of the doubt) if
something goes wrong (e.g. a scandal about the very organization).
Key concepts in corporate communication:
Mission overriding purpose in line with the values and expectations of stakeholders.
Mission statements are created by communication professionals in order to see
where the organization sees itself in the future
Vision desired future state, the aspiration of the organization
Corporate objective statement of overall aims in line with overall purpose
Strategy the way or means in which the corporate objectives are achieved and put
into effect
Corporate identity the profile and values communicated by an organization
Corporate image the immediate set of associations of an individual in response to
one or more signals or messages from or about a particular organization at a single
point in time
Corporate reputation an individual’s collective representation of past images of an
organization established over time
Stakeholder any group or individual who can affect or is affected by achievement
of the organization’s objectives
Market a defined group for whom the product may be in demand
Communication the tactics and media that are used to communicate with internal
and external group
Integration the act of coordinating all communication so that the corporate identity
is effectively and consistently communicated to internal and external groups
ORGANIZATIONS
- Organizations could not exist without communication.
- Definition → “a group of people working together to reach a common goal”
- Organizations AS Communication → Communicative Constitution of Organizations
(CCO), where organizations consist of communication.
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Approaches to Corporate Communication
Key Information Cognitions Relations Meanings Emancipation
concept
Emphasis Transmission Persuasion Relationship Meaning Cultural
on comm. of development construction
function information
Level of Transmission Target Subsystems Social actors Society
analysis process groups
comm. Information Effect models Balance Meaning Power models
model tranmission (eg Petty & models (eg contraction (eg Issue arena
models (eg Cacioppo) co- models (eg model)
Shannon & orientation) sense-
Weaver) making)
Key How do I How do I How do I How do What are the
question reach my cause develop a people in and consequences
target intended communicati outside of
group? effects at my on system organisation communication
target that supports contract management
group? lasting meaning society?
relationships about their
with environment
stakeholder (eg the
groups? organisation)?
STAKEHOLDER MANAGEMENT
Theoretically, the now widespread adoption of the stakeholder perspective in
business marks a move away from a neo-classical economic theory of organizations
to a socio-economic theory.
(I) The neo-classical economic theory suggests that the purpose of
organizations is to make profits in their accountability to themselves and to
shareholders, and that only by doing so can business contribute to wealth
for itself as well as society at large. Reflected in the Input-Output Model
where the organization is the center of the economy, where investors,
suppliers and employees are depicted as contributing inputs. Power lies
with the organization, on which the other parties are dependent, and that
the interest of these other parties and their relationship to the organization
are only financial.
(II) The socio-economic theory suggests, in contrast, that the question of ‘who
counts’ extends to other groups besides shareholders who are considered
to be important for the continuity of the organization and the welfare of
society. Reflected in the Stakeholder Theory Model – where all persons or
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groups who hold legitimate interests in an organization do so to obtain
benefits and there is, in principle, no priority for one set of interests and
benefits over another. All those groups which have a legitimate ‘stake’ in
the organization, whether purely financial, market-based or otherwise, are
recognized, and the relationship of the organization with these groups is not
linear but one of interdependency.
NATURE OF STAKEHOLDERS
- Stakeholder → each group or individual that can influence or is influenced by the
behaviors of the organization. In other words, it is the group or individual who can
affect or be affected by the achievement of the organization’s purposes and
objectives.
- Stake → an interest or stake in a corporation, which can vary from personal interest
to ownership of the organization.
(I) Freeman → Equity (direct ownership e.g. shareholders, directors, owners)
Economic or Market (economic interest e.g. employees, customers,
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