Chapter 1: What is Corporate Communication | Public Relations by Joep Cornelissen

Summary

This video delves into the realm of corporate communication, highlighting its evolution from basic PR to a multifaceted function critical for stakeholder relations. It illustrates the importance of aligning corporate messaging with actions, using Barclays Bank's campaign as a case study. The video underscores the significance of maintaining a positive corporate reputation and the role of communication in shaping stakeholders' perceptions, ending with a call to action for viewers to explore more on the topic.

Takeaways

• 😀 Corporate communication is a management function that nurtures relationships with stakeholders and protects a company's reputation.
• 🏦 Barclays Bank's rebranding campaign in 2003 aimed to appear more humane, contrasting with their previous powerful and big corporation image.
• 📉 Barclays faced an image crisis due to closing branches and high CEO pay, which conflicted with their 'big ideas' campaign.
• 📈 The future of a company depends on stakeholder perception, including shareholders, investors, customers, employees, and community members.
• 📚 Corporate communication has evolved from simple PR in the 1900s to a comprehensive function that includes advertising, internal communication, and crisis management.
• 🌐 The term 'corporate communication' comes from Latin words meaning 'body' and 'forming into a body,' emphasizing a unified approach to internal and external communication.
• 🎯 The main objective of corporate communication is to establish and maintain a positive reputation with stakeholder groups.
• 📊 Corporate communication strategy involves creating a corporate identity that projects the desired image and reputation to stakeholders.
• 💡 Companies use various communication channels, including brochures, advertising, logos, and staff behavior, to transmit their corporate identity and values.
• 🔗 Stakeholders are anyone affected by or affecting the company, and good relationships with them are crucial for business success.
• 📅 The evolution of corporate communication has seen a shift from separate departments to integrated communication, positioning, and now stakeholder engagement.

Q & A

What is corporate communication?

Corporate communication is a management function that coordinates all internal and external communication to establish and maintain a company's reputation with its stakeholders.

Why is nurturing relationships with stakeholders important for organizations?

Organizations are economically and socially dependent on their stakeholders, so nurturing these relationships is crucial for their success.

What was the issue Barclays Bank faced in their communication campaign in 2003?

Barclays Bank faced an image crisis when they promoted a 'big bank' image while closing branches and disclosing high CEO pay, which led to public anger and damaged their reputation.

How did Barclays Bank attempt to manage the crisis caused by their communication missteps?

Barclays Bank extended opening hours at 80% of their branches and recruited 2,000 extra staff to improve their image, despite the cost.

What is the role of corporate communication in a company's overall strategy?

Corporate communication plays a role in protecting the company's reputation, which is key to its success, by building, maintaining, and protecting its image among stakeholders.

How has the concept of corporate communication evolved over time?

Corporate communication has evolved from separate disciplines like publicity and promotions to an integrated function focused on stakeholder engagement, positioning, and transparency.

What are the key components of corporate communication?

Key components include corporate design, advertising, internal communication, issues and crisis management, media relations, investor relations, change communication, and public affairs.

Why is corporate identity important in corporate communication?

Corporate identity is important as it represents the basic profile an organization wants to project to its stakeholders and helps in building a consistent image and reputation.

What does the term 'corporate mission' mean in the context of corporate communication?

The corporate mission is a general expression of the overriding purpose of the organization, often answering the question 'what business are we in?' and aligning with its values and stakeholder expectations.

How does corporate communication aim to influence stakeholders?

Corporate communication aims to build a favorable relationship and image with stakeholders, leading to customer loyalty and support for the organization.

What is the difference between corporate communication, business communication, and management communication?

Corporate communication focuses on the organization as a whole and its representation to stakeholders, while business and management communication focus on practical skills like writing and presenting for individual managers and professionals.