Corporate Communication Strategies Essay

Introduction In this report, corporate communication strategies in companies are discussed. The essentiality of corporate communication strategy and its  link with the corporate objectives is discussed in this report. The report aims to know what impact that a corporate communication strategies, either an internal communication strategy or an external communication strategy can create on the business success as well as on the internal and external stakeholders of the company like employees, customers, suppliers, government and so on. The need for corporate communication audit and monitoring of corporate communication strategies are also another highlights of this report Task 1 1.1Purpose of Corporate Communication Strategies Corporate business Communication strategy gears up its relevance in the contemporary business scenarios. This is a prominent ingredient in an effectual business strategy that helps the company to lead its path to ultimate success. Business communication seems to be complete with an effective corporate communication strategy which forms a base for a transparent communication among different people within a company as well as outside the business organisation. Public relations, advertising, marketing etc form a part of corporate communications, some other tools of corporate communication. Looking at the internal perspective, operational employee, team managers etc can increase their work efficiency through improved corporate communication among them. In the external perspective, through corporate communication, company can build good relationship with suppliers, customers/clients, shareholders, funding organisations, local communities, the media, etc and ensure smooth business operations. This is considered as a key ingredient of a business function that enables the coordination of work done by all individuals in each department. A proper synchronization of both external and internal communication is essential to ensure more business success. This leads to increased support of each stakeholder to the company. 1.2Assessment of how corporate communication is linked to corporate objectives within organizations Corporate communication plays a significant role in attaining the corporate  objectives. Customer satisfaction is a vital corporate objective, wherein communicating the product features and specifications is enabled through an effective corporate communication. How far the customers get attracted to the company’s product is linked with how extensively and effectively corporate communication techniques like advertising, marketing etc indulge in customer minds. Corporate communication strategies ensure the achievement of corporate objectives as when target customers get a clear picture about the product through various corporate communication strategies they get more attracted to the product. This will increase the sales volume, profitability, market share, brand image etc of the company. Thereby, corporate communication has a good linkage with the corporate objectives and its achievement. 1.3Analysis of relationships between Corporate Communication and Corporate Branding Corporate branding is build with the strong foundation of corporate communication. A proper sync of corporate branding and corporate communication helps a company to meet its ultimate business goals smoothly. A company aims to formulate most effective communication strategy for a better brand image. Branding distinguish the company product from another similar product. It is an identity of a product. Effective corporate communication reaches the customers in a successful manner and thereby they will be able to make out the unique and distinct features of the product. Corporate communication strategies improve the brand image of a product and thereby the product sustain in the minds of customers, who start treating the product as a premium brand. A better customer relationship is promised through branding and effective corporate communication. By communicating all the product details to the customers, brand awareness in the minds of the customers will be enhanced, leading to more brand loyalty. Thereby, customer retention is enabled using the most appropriate corporate communication and branding strategies (Kim, S, 2011). Task 2 2.1 Demonstration of how you would plan an internal corporate communication audit Any corporate communication strategy would not serve the purpose of business effectiveness. Hence, a company conducts corporate communication audits both internally and externally to evaluate the efficiency of a corporate communication strategy. This evaluation can be made by exploring the delicate areas of communication strategy and thereby forming a major part of corporate communication audit. A detailed communication audit demands for a considerable amount of fund utilization or expenses related to invoices and bills on stationary, travelling and so on. The financial budget for a communication audit needs to be planned well before its conduct and approved by the concerned authorized personnel. A transparent communication between the auditor and the company representatives is ideal for a smooth flow of auditing process. Various assessment techniques like interview, observation, content analysis etc are practiced by the auditor during the audit. The time limit for the entire audit process is pre determined so as to ensure successful completion considering every aspects in the auditing (Cornelissen 2014) 2.2 Explain how you would conduct an internal corporate communications audit The internal communication audit aims to identify and evaluate the methods in the internal communication process. As a first step, the senior management personnel and other staffs of a company are interviewed to know more about the thought pattern of each employee regarding the prevailing communication strategy. Surveys in the form of questionnaire are another typical method of communication audit to evaluate the varying responses on communication process within the organization. As a result of this, quantitative data on the same can be drawn. Qualitative data is achieved through group meetings with the concerned individuals in the company. This helps the auditor to know impact of communication process in the actual business executions 2.3 Critically evaluate the effectiveness of current levels of practice in your organization Evaluating the current communication strategy in the company fosters more business communication effectiveness. Considering the company, Coca Cola, a US based multinational company corporate communication strategies are very relevant for the company. This is due to the fact that the company has several branches across the world, where business communication is a challenging aspect. Also, increased customer base, supply chain management etc is some other challenging elements that demand for an effective corporate communication strategies in Coca Cola. Transparency and clarity in communication to both internal and external stakeholders of the company strengthen the bonding of the stakeholders within Coca Cola. This ensures more reliable and loyal stakeholders including its employees, customers, suppliers, dealers and so on. This imparts effectual business operations by the company with the complete support from all its stakeholders. The successful business communication networks between different branches of the company all over the world, the effective supply chain management, increased customer base, loyal employees etc form evidence of existing communication practices in a company and its effectiveness (Doorley & Garcia 2011). Task 3 3.1 Demonstrate how you would plan an external corporate communications audit Planning an external audit is another crucial aspect for a company. Hence, expert handling of communication audit is recommended. The company decides whether to hire an expert auditor or to entrust this duty to the concerned PR staff inside the organization. The time allotted for each step in the external audit process is planned in advance so that there will be no delays or issues in between. Also, the company plans the sources to collect the data proving the effectiveness of the current external communication, is determined well in advance. This may include people or corporate to approach, interviewing its external stakeholders and so on (Parguel et al. 2011). 3.2 Demonstrate how you would conduct an external corporate communications  audit Conducting an external communication audit involves several steps, starting with the identification of the key elements in the company, like its logo, symbols, letterhead, business cards etc. External communication audit is done by either one to one interview with the concerned people, customer survey, telephonic talks, discussions etc. The ideal research method for each external audit depends and may vary from one to another. The past communication audit need a thorough evaluation so as to ascertain the loopholes or untouched arenas in the previous external communication audits. Welcoming feedbacks, suggestions from customers, employees, suppliers etc form another integral part of external communication audit, to know the current status of external communication(Kaplan, R. S., & Norton 2001). 3.3 Critically evaluate the effectiveness of current levels of practice There exists an inevitable need for the evaluation of existing external communication process in the company so as to ensure business growth. External environment of this multinational giant in no doubt, is a critical element, where medias, political ups and downs, changing economic trends etc demand for apt external communication strategies. Hence, to know the effectiveness of such existing external communication methods requires a need to look in to its each and every aspect. It is essential to know whether the stakeholders are communicated well and are in sync with the business dealings, resource allocation and mobilization is proper or not etc. In a successful company, external communication process outstands with the expert touch where all the stakeholders are coordinated and communicated effectively. There sees a widening of their business horizons in the light and support of ace external communication methods adopted by the company. Reliable and transparent communication approach is a trademark of a successful company, that leads its business to new heights (Kim 2011). Task 4 4.1 Explain how you would plan the objectives of a corporate communication  strategy Planning of corporate communication strategy is the prior step to the formulation of this strategy. Corporate communication strategy, at its planning stage, determines how to achieve the corporate goals of the company. The clarity and relevance is sought in the objectives planned in order to make the communication strategy more applicable and effective. Monitoring the objectives effectiveness after the planning stage can lead to more improvisation on the same, wherever needed. It is essential to include all the mandate objectives and goals of the company to ensure there is a smooth execution corporate communication, both internally and externally (Coombs, W. T., & Holladay 2011) 4.2 Select the audiences to influence with a corporate communications strategy Customers or audience of a company forms a crucial part of the company, impacting its sales volume and profitability. Audience influence is hence associated in each aspect of its communication strategy. When the product is properly communicated to the target customers, the message will become clear to the customers and thereby more customers are attracted to the product. This can increase the sales of the products of the company. Hence, it is essential for the firm to formulate the ideal and most efficient communication strategies that will have an impact on the customers in a higher degree. More clarity and reliability are sought by customers through communication strategies and this need to be incorporated in the corporate communication strategies for better audience base(Keller et al. 2011). 4.3 Plan appropriate measures to monitor a planned corporate communications strategy Monitoring the effectiveness of a corporate strategy is an integral part in the company as this will help to identify the pitfalls and the necessary corrective steps can be taken on an immediate basis without any delays. This will also helps to improve communication with internal and external stakeholders. One of such measuring element is to create SMART (Specific,  measurable, attributable, realistic, time bound) objectives. Also, needs to look at both the quantitative and qualitative aspects of corporate communication strategies. The outcome of the strategy needs to be evaluated so as to identify the rectifications (Karaosmanoglu & Melewar 2006). Task 5 Reflective Learning Statement From this report, it can be understood that corporate communication strategies forms a prominent part of any organization. There is a vital need to ensure these are framed considering every aspects of communication related to both internal stakeholders as well as external stakeholders. The effectiveness of corporate communication strategies is ensured by conducting corporate communication internal and external audit. This involves a series of steps wherein all the stakeholders both inside and outside the company are surveyed to identify the impact of the prevailing communication on them. This helps the company to know where it lags behind and what all improvements it needs to take in the future to ensure a more effective corporate communication strategy. Corporate communication strategy is also related to corporate objectives as the attainment of business goals and selling of products, influence of the target audience etc are based on the effectiveness of corporate communication stra tegies(Roth 2014). Conclusion To sum up, it is noted that corporate communication strategies are the foundation of business growth and success. When there is an effective communication by the company towards its internal and external stakeholder, it will bring more trust factor on the stakeholders and who in turn support all the business activities. Suppose, If there is a transparent and timely communication of product details to the customers through the communication tools like advertisement, marketing techniques etc, it will increase the brand image as well as brand loyalty by the customers. In this report, the relevance of corporate communication strategy of a company is discussed.  Corporate communication strategies have a great link with the ultimate business goals. Corporate branding and communication are linked together. When the brand is communicated effectively to the customers, it will lead to more business success. To know the effectiveness of corporate communication strategies, internal and external corporate audit is conducted. There is a need to monitor a planned corporate strategy to make necessary improvements on the same (Becker-Olsen et al. 2011). References Becker-Olsen, K.L. et al., 2011. A Cross-Cultural Examination of Corporate Social Responsibility Marketing Communications in Mexico and the United States: Strategies for Global Brands. Journal of International Marketing, 19(2), pp.30–44. Available at: http://journals.ama.org/doi/abs/10.1509/jimk.19.2.30 [Accessed February 3, 2015]. Coombs, W. T., & Holladay, S.J., 2011. The handbook of crisis communication (Vol. 22). J. W. & Sons., ed., Cornelissen, 2014. Corporate communication: A guide to theory and practice, sage. Doorley, J. & Garcia, H.F., 2011. Reputation Management: The Key to Successful Public Relations and Corporate Communication, Routledge. Available at: https://books.google.com/books?hl=en&lr=&id=TWqUAgAAQBAJ&pgis=1 [Accessed February 3, 2015]. Kaplan, R. S., & Norton, D.P., 2001. business environment. Harvard Business Press. Available at: file:///C:/Users/Joseph/Downloads/02bfe50d1e9e9e6bfb000000.pdf [Accessed February 1, 2015]. Karaosmanoglu, E. & Melewar, T.C., 2 006. Corporate communications, identity and image: A research agenda. Journal of Brand Management, 14(1/2), pp.196–206. Available at: http://www.palgrave-journals.com/bm/journal/v14/n1/abs/2550060a.html [Accessed February 3, 2015]. Keller, K.L., Parameswaran, M.G. & Jacob, I., 2011. Strategic Brand Management: Building, Measuring, and Managing Brand Equity, Pearson. Available at: https://books.google.com/books?hl=en&lr=&id=cofhZbwwFuYC&pgis=1 [Accessed February 3, 2015]. Kim, S., 2011. Taylor & Francis Online. Available at: http://www.tandfonline.com/doi/full/10.1080/1062726X.2011.555647#.VNBrz2iUdMA [Accessed February 3, 2015]. Parguel, B., Benoà ®t-Moreau, F. & Larceneux, F., 2011. How Sustainability Ratings Might Deter â€Å"Greenwashing†: A Closer Look

Human Arrangements Essay

The increase of poverty in the recent years is one of the major problems which the United States has to face. As the survey shows, the highest poverty rates in the United States were witnessed during the years of recession, for example 1960, 1975, 1983 and others. However, the poverty rates increased dramatically through 2001-2003. In 2002, the number of people in poverty reached 34. 4 million, which is 12. 1% of the population. The poverty rate was at its lowest level between 1970-1980 years, but since that time it never decreased until that level. In the last years, it was the lowest in 2000 (at the level of 11%) but since that time it kept increasing annually. In 2003, poverty rate reached 12. 5% which is 0. 4% higher than in 2002. The dynamics of poverty in the United States also shows that the most vulnerable members of the society are people under the age of 18 (17% of them are in poverty). Citizens aged 18-64 have had the lowest poverty rates up to 2002, when the level of poverty rates of seniors (aged 65 and older) reached their level. According to the regional characteristic, states in which poverty rates increased the most included Florida, Illinois, Utah, South Carolina and others. It is also necessary to analyze the dynamics of poverty rates among different races. According to the survey, poverty rates increased greatly among all of the races present in the United States. At the same time, the income level of White, Asian and Black households remained unchanged while the income of Hispanic households experienced some decrease. Among these groups, Black households have the lowest level of income and thus have the highest poverty rates among the groups in the society. In 2003, the median income of Black families reached only $30,000 which was only 62% of the $48,000 income of White households (non-Hispanic origin). The group with the highest income level, and thus the smallest number of people below the poverty line was Asians. Their average income reached $55,000 in 2003. It is possible to conclude that among all of the groups, Blacks are experiencing the most problems with obtaining income. Asian households receive almost the double income of what Black households receive. Due to the fact that poverty rates are increasing with years, it means that Black citizens are going to become more and more vulnerable in the society. In 2003, 24. 4% of Black people were below the poverty line, and the percentage has increasing by 2005. For comparison, only 11% of Asian people were below the poverty line in 2003. There are many reasons why the poverty rate among Blacks has changed the most during the recent years. First, due to discrimination, many Black people are still unable to get high-paying jobs which people of other origins get easily. The experience of New Orleans shows that despite the hopes of African Americans hat discrimination would be reduces with time, this process is very slow. Most of the people affected by hurricane in New Orleans lost their houses and jobs, and it will be very difficult for them to achieve their previous level of income in the following years. Unfortunately, the government did not take any measures to assist the people whose houses were devastated by the hurricane. Situation with New Orleans is only one of the examples of how discrimination occurs in the United States and Black population is unable to reach the same income level as other races. Another reason of high poverty rate among Blacks is their inability to enter prestigious establishments of higher learning. Due to the low income level of their families in comparison with other races, they are often unable to obtain good education which would lead them to high-paying jobs. At the same time, it is necessary to mark that due to the introduction of Civil Rights legislation, the poverty level of Blacks in the recent years is much lower than it was before the adoption of legislation. Even though the poverty rate has been increasing during the last years, the average rate is much lower than it was in the 50s. Despite the fact that Blacks are still experiencing some sort of discrimination, it is much less noticeable as it was before the adoption of Civil Rights legislation. Owing to the legislation, they finally got an opportunity to have the same rights as white people and thus the overall poverty level among Blacks declined dramatically in comparison with previous decades. Bibliography. 1. Poverty in the United States- 2002. Issued September 2003. Available at URL: http://www.census.gov/prod/www/abs/popula.html 2. Income, Poverty and Health Insurance Coverage in the United States 2003. Issued August 2004. Available at URL: http://www. census. gov/prod/www/abs/income. html.

Graduate School

I have had many dreams about my future and where I would go in life. In all my dreams I do in fact attend graduate school. This is so because I would like to attain a job that requires more than just a four year degree, so that I may receive a high paying salary. The benefits from an advanced degree are numerous. I would like to obtain an advanced degree because unlike undergraduate school, graduate school is more of a narrower field of study. The schooling may be more difficult and more work but I do think it will pay off in the end. As a graduate student I will develop clearer goals as to what I want for my future.As a graduate student I will create many opportunities for myself to receive practical experience in my field of study. Learning in an atmosphere where the professors and other students love my field of study just as much as I do will be truly refreshing. It is also no secret that most companies look for advanced education beyond a bachelor’s degree because a gradu ate degree is more prominent. With a graduate degree I will most likely earn a considerably higher salary than if I just settle with a bachelor’s degree. I would like to succeed in my lifetime to become wealthy.With an advanced degree I will have opportunities for advancement over than I solely had my bachelor’s degree. I would like to be one day be a hospital administrator or a manager of my branch. Having an advanced education will help me achieve this goal. I have a dream of becoming a successful person that will have financial stability. I would love to eventually earn a graduate degree that will help me further my career. I would love to earn a degree that will give me more mobility in my career. There will be more hard work and effort put forth in an advanced degree but after all the time is put in the rewards will be great.

Comparison Between Gold Rates and Sensex Essay

Correlation : Correlation is a statistical technique that can show whether and how strongly pairs of variables are related. Correlation is computed into what is known as the correlation coefficient, which ranges between -1 and +1. Perfect positive correlation (a correlation co-efficient of +1) implies that as one security moves, either up or down, the other security will move in lockstep, in the same direction. Alternatively, perfect negative correlation means that if one security moves in either direction the security that is perfectly negatively correlated will move in the opposite direction. If the correlation is 0, the movements of the securities are said to have no correlation; they are completely random. Regression analysis: It involves identifying the relationship between a dependent variable and one or more independent variables. Case Analysis The initial analysis compares two Asset index prices the SENSEX and the GOLD. The Sensex has the top 30 stocks. The Gold is an important Asset in terms on Investment as it also offers the benefit on diversifying the Portfolio risk. To apply the Correlation and regression concept, we consider an investor who plans to invest in Gold looking at the rise in the gold prices. He is still reluctant if he should choose Gold as an investment option or if he should consider investing in some other investment options based on Sensex. as on 15th September 2012. Hence, he plans to carry out a research on the same, for which he attends a seminar on â€Å"Investment Opportunities†. There was a debate amongst the Financial Analysts – â€Å"Does Sensex rates affect Gold prices?† Analyst1 : Gold prices have been on an uptick since 2000, while the stock market declined from 2000 to 2003 and then again in 2008. Hence, Sensex fluctuation does not determine the Gold prices i.e. rise in Sensex might not always lead to rise in gold price. Analyst 2: Through the recovery phase that commenced in 2003, gold prices kept rising. Analyst 1: Gold prices normally appreciates in value. Analyst2: Fluctuations in Gold prices are determined by the fluctuations in Sensex i.e.: Decline In sensex. This created a confusion. Hence, to clarify the confusion he plans to study the price trends of the Gold rates and the Sensex for the dates ranging from June 1st’2012 – August 31st2012. After checking the correlation he found that the correlation between the closing prices on Gold and Sensex was 0.24 which was weak. Thus, he decided that Sensex rates was not the only factor to consider investment in Gold. Otherwise, Gold is a good option for investment as it provides diversification and hedging in investment. Conclusion: Correlation between Gold and Sensex is 0.24 which is positive and weak. Thus, based on this correlation change in Sensex has an effect on Gold rate but it is very small.

Discuss Hurricane Katrina Impact on Bermuda and International Research Proposal

Discuss Hurricane Katrina Impact on Bermuda and International Insurance Markets, and Explain How Storm Affected Our Attitudes Towards Insurance - Research Proposal Example We observed the complete lack of communication between federal government, state government, and the cities, officials. Inefficiency, no initiative, no clear leadership, delay in every action, and overall chaos can characterize the behavior of those who should try to prevent and minimize the damages. And on top of everything, most of the areas and people hit and affected by the Katrina were not prepared for the scale of disaster. Katrina was hugely devastating and the magnitude of its damage will linger probably for some time, in areas affected and in minds of people who witnessed that disaster. However, the federal and state officials, as well as ordinary people can derive a lesson from Katrina. This was not the first such disaster, and it surely was not the last one (Hayhurst, 2007). According to earth scientist, due to changes in climate and global warming, hurricanes and other natural disasters will appear more frequently. How can we, ordinary citizens as well as officials on different levels, prevent such after-disaster crisis? How can we better manage crisis? Are there ways to diminish peoples suffering? And mostly importantly, who should pay for everything? Money is always crucial issue and in situation of such crisis it takes another meaning. We have to be aware of the fact that we cannot rely always on the others for help. In many critical situations, we have to come up with our own solutions to the problems. In this case study, the situation of an average family living in the hurricane-prone area is analyzed. The analysis is performed on different levels. First, we closely look at the prevention and avoiding severe crisis due to disaster. We, as humans, cannot control nature, but we can and should take every measure to protect human life in the face of a disaster. Therefore, what measures people should take to protect themselves and their personal

Does it matter whether or not firms pay dividends Essay

Does it matter whether or not firms pay dividends - Essay Example This research will begin with the statement that one of the essential parts of a company investment return is a dividend. Being paid on an annual or quarterly basis, a majority of companies pay dividends to the shareholders while others retain their entire profit and reinvest. Even though reinvesting back the profit is vital for the future expansion of the company, it significantly matters whether firms pay dividends. Based on the importance of shareholders in the capital growth of any company, it is fundamental for the management to rewards the shareholders by giving them a portion of the company profits so that they can use it for their own investment or education of their children among other personal use. A company that regularly pays dividends to its shareholders indicates fundamentals. In the 1930s before firms were under legal obligation to pay a dividend, their financial health was indicated by their ability to pay a dividend. Notwithstanding the laws and legislation such as the securities and exchange act of 1934 that brought about a significant level of transparency in the financial management of firms, dividends are still a notable yardstick of the company performance. Â  Mature companies pay dividends and still retain more profits for reinvesting. A good example of a company that has benefited from giving its shareholders dividends is Microsoft. During the early years of the company operations, the company did not pay dividends but it reinvested a significant portion of its profit for future growth.

Zara Case Study Example | Topics and Well Written Essays - 500 words

Zara - Case Study Example The company has created a niche in the global retail industry through its aggressive and carefully planned out business model. The unique points of their business model that has helped them grow in relatively short time are primarily two folds. One, their turn around time that is as aggressive as it can be; where in, Zara believes in staying with the trend and comes up with entirely new chain of clothing style with in two weeks of time. They have always maintained and encouraged employees to come with clothes that are trendy and can attract customers for a certain amount of duration before going in for a complete revamp as soon as the trend is out of fashion. Secondly, its Just-In time inventory system, where it believes in having just the required amount of clothing stock. This not only helps them keeping the cost low, but also come up with entirely new style of clothing inspired from customers’ feedback in rather quick time.   The company spends almost a negligible amount in advertising as the Zara management has always maintained that what’s important is to give the customers that they want rather than force them to buy what you have. This principle has been the backbone of the Zara retails and has been the major point of success. Before launching their business in any new region, the management does a careful planning about the outlet positioning. Zara stores invariably are situated in main commercial areas and usually attract shoppers with its attractive and trendy display of stylish clothes. At the point of billing, customer service staff take extensive feedback from customers to identify the needs and the expectations of customers, this information is strictly followed while deciding on newer products. Surveys and customer feedback also allows Zara management to keep the prices competitive and within the range that the customers are happy to pay for and yet ensuring profits for the company. Th e large scale volume of business also allows Zara to