Corporate Identity & Relationships

1. Corporate Identity & Relationships The Key to Sustained Success

2. 1. Corporate Identity • Definition: A collective understanding of the organization’s features presumed to be central and relatively stable and that distinguish the organization from others. • Features • Centrality and stability • Distinguishable

3. 2. Examples of Identity • What three words do you associate with the following firms? • K-mart • Microsoft • GE • UWGB • Taco Bell • Southwest Airlines

4. 3. Typical identity issues • Financial soundness • Ability to attract, develop & keep talented people • Responsibility to the community & environment • Leadership in field • Quality of management • Quality of products & services • Innovativeness • Wise use of corporate assets

5. Good Rubbermaid Intel Southwest Airlines 3M Home Depot Bad Humana TWA Revlon Fruit of the Loom 4. Good - Bad

6. 5. Developing a reputation • Org. Strategy • Corporate Communications • Projected images • Institutional Mandates • Reports by media and others • Refracted images • People select images

7. 6. Consequences of Reputation • Distort available but slightly inconsistent information to fit schema. • Stabilizes observer’s perceptions • Influences perception over time • Creates a valuable asset because it “buffers firms from immediate negative reactions” when unfavorable things occur

8. 7. Influences on reputations Media Communications Employee Communications Investor Communications Community Communications Corporate Reputation Consumer Communications Government Communications Crisis Communications

9. 8. Managing Media Relations • Know the terrain • Prepare appropriately • Manage the interview • Learn from your experience

10. Know the terrain • News format • Live • Taped • Documentary • Panel discussion • Forum

11. Prepare appropriately • Decide whether to do it or not • Contact them • Why are you doing this program? • Why me? • Who is the ER? • Will it be live or recorded? • Any films or props? (response to videos) • Who else will be there? • What questions will be asked?

12. Prepare appropriately (cont.) • Plan your strategy • Distill the message • Animal farm: “4 legs good, 2 legs bad” • Have a maximum of 3 points with subpoints • Tell stories & anecdotes. Compare: • “Animal fats are bad for you.” • “My friend died from eating animal fat. • Use analogies

13. Plan your strategy (cont.) • Repeat the message (It’s not that people are stupid, they may not be paying attention) • Anticipate their angle. (Example: Archbishop of Canterbury visit to NYC) • Dress Appropriately • Avoid narrow stripes & checks • Watch out for flashy jewelry etc. • Remember “nothing is off the record”

14. Manage the interview • Adopt the appropriate manner • Lean slightly forward • Look at the ER • Use your hands • Have notes • Be sincere and enthusiastic

15. Manage the Interview (cont.) • Use these rules of thumb • Don’t let the ER butt in without a fight. • Refute incorrect statements. • Avoid jargon. • Stay off the defensive. • Don’t get sidetracked. • Let audience know when the ER “springs” something

16. ROT (cont.) • If the ER rephrases your statements, make sure s/he got it right. If not, correct the statement. • Tape the interview (unless it is live)

17. Practice this scenario • Think of something you’d like to say of importance • Think up the nastiest, most loaded question about the subject. • Put the two together

18. 9. Managing Investor Relations • Who are the investors? • What might be their concerns? • How do you communicate with them?

19. Who are the investors? • Owners of the company (shareholders) • Who can own shares? • Privately-held company • Publicly traded company • Investor relations primarily deals with Publicly traded companies

20. What might be their concerns? • Pending lawsuits • Growth opportunities • Competitive environment • Projected earnings (profits) • Market position • Executive team issues (e.g., CEO succession) • Social responsibility

21. How do you comm. with them? • Annual report • Requirement • Financial results • CEO letter • Controlled Mass Media (e.g., Gates in WSJ) • Press Releases • Special Mailings • Web sites