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FULL EXAM SUMMARY: CORPORATE COMMUNICATION (9.4/10)
Full summary of Corporate Communication (lectures + reading). The key concepts were presented in a logical and systematic way, easier to learn and memorize. Grade: 9.4/10
[Meer zien]Voorbeeld 8 van de 35 pagina's
Voorbeeld 8 van de 35 pagina's
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CORPORATE COMMUNICATIONKey concepts
Week Concept Term Explanation
1 Defining corporate Definition A management function that offers a framework for the effective
communication 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.
→ Integration of strategic communication functions
Key concepts Mission A general expression of the overriding purpose of the
organization, which, ideally, is in line with the values and
expectations of major stakeholders and concerned with the scope
and boundaries of the organization.
Vision The desired future state of the organization. It is an aspirational
view of the general direction that the organization wants to go
in, as formulated by senior management, and that requires the
energies and commitment of members of the organization.
Corporate The more precise (short-term) statements of direction – in line
objectives with the formulated vision – which are to be achieved by
strategic initiatives or strategies.
→ Statement of overall aims in line with the overall purpose
Strategy Involves actions and communications that are linked to
objectives and are often specified in terms of specific
organizational functions (e.g. finance, operations, human
resources).
→ The ways or means in which the corporate objectives are to
be achieved and put into effect
Corporate The basic profile that an organization wants to project to all its
identity important stakeholder groups and how it aims to be known by
these various groups in terms of its corporate image and reputation.
→ organizations need to go to great lengths to integrate all their
communication, from brochures and advertising campaigns to
websites, in tone, themes, visuals and logos.
→ The profile and values communicated by an organization
Corporate The way a company is perceived, based on a certain message and
, image at a certain point in time/the immediate set of meanings inferred
by an individual in confrontation or response to one or more
signals from or about a particular organization at a single point in
time
Corporate An individual’s collective representation of past images of an
reputation organization (induced through either communication or past
experiences) established over time.
→ The general evaluation of an organization (compared to its
nearest rivals), leading to likability and preference
Stakeholder Any group or individual who can affect or is affected the
achievement of the organization’s objectives
Integration The act of coordinating all communication so that the corporate
identity is effectively and consistently communicated to internal
and external groups
Market A defined group for whom a product is or may be in demand (and
for whom an organization creates and maintains products and
services)
Traditional media Communication Broadcasting: stakeholders as audiences receive messages from
environment approach the organization in a controlled and planned manner
Communication One-to-many
model
Underlying Corporate positioning: planned and controlled transfer of
principle corporate messages and campaigns
Key metaphors Medium, channels
Rules of Fixed and controlled
communication
Costs of content Expensive/high
production/
publishing
threshold
New media Communication Crowd-casting: stakeholders as participants produce or forward
environment approach content about the organization
Communication Many-to-one, many-to-many
model
Underlying Content generation: impromptu and free generation and
principle dissemination of corporate content
Key metaphors Platforms, arenas
, Rules of Messy and emergent
communication
Costs of content Cheap/low
production/
publishing
threshold
Classification of Figure
social media
Blogs Blogs are online platforms where bloggers can publish diary or
journal-style information and moderate non-author comments.
→ It's important for corporate communication practitioners to
engage with influential bloggers, such as opinion leaders and
journalists, or maintain a corporate blog to engage with all
stakeholders.
→ Corporate blogging allows stakeholders, including journalists,
to engage in a direct and unfiltered conversation with the
organization
Collaborative - Collaborative projects involve joint online collaboration between
projects individuals, mainly through wikis or social bookmarking apps.
- However, corporations face challenges as the information
presented may not always be factually correct or thoroughly
checked.
→ Nevertheless, organizations often use wikis and other
collaborative tools to enable and support teamwork.
Social Social networking sites like Facebook and LinkedIn allow users to
networking create online profiles and share personal information, forming
sites small communities of friends and colleagues who communicate
through messages and posts. These sites can be an important
channel to reach consumers and strengthen ties with them.
Content - Content communities are applications for sharing media content,
communities such as text, photos, videos, and presentations.
- They can pose a risk to corporations if copyrighted materials or
corporate documents are shared without permission.
→ However, companies can also benefit from content communities
like YouTube, which allow them to connect with users and promote
their brands.
Virtual social In virtual social worlds, users create an avatar and interact in a
, worlds three-dimensional virtual environment. Companies have adopted
the platform for marketing, communication, and recruitment
purposes.
→ However, virtual interaction is not the same as real-life
interaction, and not all stakeholders may be familiar with the
medium. Therefore, they are not a primary means of engaging with
stakeholders.
Virtual game Virtual game worlds are similar to virtual social worlds, except
worlds users have limited behavior and role-playing options as avatars.
These games involve multiple players and run on the web and
game consoles like Xbox and PlayStation.
→ However, corporate communication potential is limited
compared to virtual social worlds, with less room for organizations
to advertise and promote themselves.
Differences between Owned media Online media that an organization owns and thus controls
owned, paid and
earned media Paid media Paid-for content or exposure on other (non-owned) online media
Earned media Stakeholder-generated online word-of-mouth about the
organization that, in effect, becomes the medium
2 The neo-classical Definition The neo-classical economic theory suggests that the purpose of
economic theory 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.
→ Corporate communication based on input-output (one-way)
Model
→ The organization is the center of the economy, where investors,
suppliers and employees are depicted as contributing inputs
→ The ‘black box’ of the organization transforms into outputs for
, the benefit of customers.
→ With this model, 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.
The socio-economic Definition The socio-economic theory suggests, in contrast, that the question
theory 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.
→ More actors with legitimate interests (not only financial) are
recognized
→ Corporate communication based on two-way interaction
Model
→ The stakeholder management model recognizes the mutual
dependencies between organizations and various stakeholder
groups
→ One significant feature of the stakeholder model is that it
suggests that an organization needs to be considered ‘legitimate’ by
both ‘market’ and ‘non-market’ stakeholder groups
Reasons why the Descriptive It is a way to visualize and strategically map the organization
stakeholder model is in/and its environment.
used
Instrumental Instrumental reasons point to a connection between stakeholder
management and corporate performance. ⇒ Stakeholder
, management may lead to increases in revenues and reductions in
costs and risks as it increases transactions with stakeholders
→ It’s a way to reach (communication) goals
Normative Normative reasons appeal to underlying concepts such as
individual or group ‘rights’, ‘social contracts’, morality, and so on.
→ It’s a way to acknowledge a broader set of legitimate stakes
(beyond only financial/economic claims)
Stake Definition An interest or a share in an undertaking. Stakes are multiple and
they vary.
The first way of 3 types of stakes:
viewing stake 1. Equity stakes: Held by those who have some direct
‘ownership’ of the organization, such as shareholders,
directors or minority interest owners.
2. Economic/market stakes: Held by those who have an
economic interest, but not an ownership interest, in the
organization, such as employees, customers, suppliers and
competitors.
3. Influencer stakes: Held by those who do not have either an
ownership or economic interest in the actions of the
orgInflanization, but who have interests as consumer
advocates, environmental groups, trade organizations and
government agencies
Second way of Consider whether stakeholder ties with an organization are
viewing stakes established through some form of contract or formal agreement, or
not.
1. Contractual stakeholders: Those groups who have some
form of legal relationship with the organization for the
exchange of goods or services.
2. Community stakeholders: Those groups whose
relationship with the organization is non-contractual and
more diffuse, although their relationship is nonetheless real
in terms of its impact.
Third way of 1. Primary stakeholders: Without whose continuing
viewing stakes participation the organization cannot survive →
Financial/vital transactions.
2. Secondary stakeholders: Those who generally influence
or affect, or are influenced or affected, but are not engaged
in financial transactions with the organization and are not
essential for its survival.
,Stakeholder salience Model
model Salience is defined as how visible or prominent a stakeholder is to
an organization based on the stakeholder possessing one or more of
three attributes.
3 key attributes 1. Power: The power of the stakeholder group upon an
organization
2. Legitimacy: The legitimacy of the claim laid upon the
organization by the stakeholder group
3. Urgency: The degree to which stakeholder claims call for
immediate action
Type of
stakeholders - 1. Dormant stakeholders: Those who have the power to
Latent impose their will on others, but because they do not have a
stakeholder legitimate relationship or an urgent claim, their power
groups remains dormant. → Power but no legitimacy, urgency
(possess one 2. Discretionary stakeholders: Those who possess legitimate
attribute) claims based on interactions with an organization but who
have no power to influence the organization, nor any urgent
claims. → Legitimacy but no power, urgency
3. Demanding stakeholders: Those who have urgent claims,
but neither the power nor legitimacy to enforce them. →
, Urgency but no power, legitimacy
Type of
stakeholders - 1. Dominant stakeholders: Those who have both powerful
Expectant and legitimate claims, giving them a strong influence on
stakeholder the organization.
groups 2. Dangerous stakeholders: Those who have power and
(possess two urgent claims, but lack legitimacy. They are seen as
attributes) dangerous as they may resort to coercion and even
violence.
3. Dependent stakeholders: Those who lack power, but who
have urgent, legitimate claims. They rely on others for the
power to carry out their will.
Type of
stakeholders - Those who have legitimacy, power and urgency.
Definitive
stakeholder → Definitive stakeholders are powerful and legitimate
(possess three stakeholders who, by definition, need to be communicated with.
attributes)
Power-interest matrix Model
Stakeholders
- The reaction or position of ‘key players’ (quadrant D) must be
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