This paper covers all the essential basics of corporate communications, including the relationship between corporate communications and corporate branding, the evaluation of communication channels and a stakeholder analysis.
The purpose of corporate communications is to allow a company or organisation to communicate both profitably and effectively. A company depends largely on its relations with its stakeholders - clients, community, employees, suppliers etc - in order to realize its objectives. Corporate communications is used to motivate and inform employees and stakeholders and is a tool used to persuade and lead customers. It is there to provide public information, be a press agentry and create two-ways asymmetric to enhance the understanding of stakeholders.
Corporate communications is used as a tool for Public Relations as it involves constructing relations with consumers and responding to their inquiries. The company’s website, email and social media presence allows customers to engage and the company can thus monitor and respond to stakeholder interactions. All of these two-way interactions must be done timeously in order to be effective and to reinforce the public image created by the company.
It is used to create channels between the different authority levels of a corporation, which is essential for the success and growth of a business: top managers need to be aware of every aspect of their company and lower staff are going to work harder if they feel their ideas and grievances are being heard.
Depending on how well a company communicates its vision and strategy with its resource holders, determines the success of its efforts to influence context and reputation about the company and how it functions. Therefore, corporate communications is a key tool in allowing effective and timely distribution of information between the different staff levels of the company, the general public and stakeholders.
Table of Contents
TASK 1
Explain the purpose of corporate communications
Assess how corporate communications link to corporate objectives
Analyse the relationship between corporate communications and corporate branding
Analyse the reasons why business organisations conduct internal and external corporate communication audits
The importance of corporate communication to the success of Investec Bank
TASK 2
Corporate communications internal and external audit plan
Internal corporate communications audit for Investec Bank
External corporate communications audit for Investec Bank
TASK 3
Audience and Stakeholder analysis
International and cultural issues
Evaluation of communication channels (relating to stakeholder groups)
Develop appropriate measures to monitor the effects of a planned corporate communication strategy
Cost-benefit analysis
Evaluation of the effectiveness of current levels of organisational corporate communications for Investec
Reference list