Crissa

• Stakeholders


  Individuals who are recognized or acknowledged to be related in a particular business or organization
• Publics


  People in general who are recognized based on the messages they transmit or convey to anybody
• Types of publics involved in communication strategies

  • Key publics
  • Intervening publics
  • Influentials
• Key publics


  Those whose participation and cooperation are required to accomplish organizational goals
• Intervening publics


  Pass information on to the key publics and act as opinion leaders
• Influentials


  Affect the success of public relations efforts, can either support an organization's efforts or work against them
• Linkages that identify stakeholders' relationship to an organization

  • Enabling linkages
  • Functional linkages
  • Diffused linkages
  • Normative linkages

  
• Enabling linkages


  Stakeholders who have some control and authority over the organization, such as stockholders, board of directors, governmental legislators and regulators
• Functional linkages


  Stakeholders that are essential to the function of the organization, divided between input functions that provide labor and resources (employees, suppliers) and output functions that consume the products or services (consumers, retailers)
• Diffused linkages


  Stakeholders who do not have frequent interaction with the organization but become involved based on the actions of the organization, such as the media, the community, activists, and other special interest groups
• Normative linkages


  Associations or groups with which the organization has a common interest, such as competitors
• Strategy


  A means to an end, the direction that the organization chooses to follow in order to fulfil its mission
• Goodwill


  Friendly, helpful, or cooperative feelings or attitude, the established reputation of a business regarded as a quantifiable asset
• Goodwill


  Friendly, helpful, or cooperative feelings or attitude
• Goodwill (in business)


  The established reputation of a business regarded as a quantifiable asset, e.g., as represented by the excess of the price paid at a takeover for a company over its fair market value
• Goodwill in the world of business refers to the established reputation of a company as a quantifiable asset and calculated as part of its total value when it is taken over or sold
• Goodwill is the vague and somewhat subjective excess value of a commercial enterprise or asset over its net worth
• Goodwill is a vital component for increasing a company's customer base and retaining existing clients
• Goodwill attracts investors and encourages stakeholders to forgive you if you make a mistake
• When a company is being acquired by another one for a premium value, that amount, above what it is believed to be truly worth – its book value – is known as goodwill
• Goodwill (as an intangible asset)

  The value of business' brand name, good customer relations, extensive customer base, excellent employee relations and any proprietary technology or patents
• In a successful business, the whole is greater than the sum of the parts. The difference between the value of the whole and the sum of its parts is its goodwill
• Goodwill is all about the nature of the business and the ethics and integrity with which people conduct their business
• Goodwill is an honor that is impossible to imitate
• Factors contributing to the creation of Goodwill


  • Expectation of future economic benefits
  • Excess business income
  • Going concern value
• Institutional Goodwill


  Related to the company, its position in the marketplace, and how well it serves its customers
• Professional Practice Goodwill


  Relates to professional practices such as engineers, accountants, lawyers, doctors, architects
• Practitioner Goodwill


  Related to the reputation and skill of the individual professional
• Practice Goodwill


  Arises from the practice itself, its track record, institutional reputation, location, and operating procedures
• The morally based efforts on the part of the responsible organization can lead to mutually compatible responses from external recipients, i.e., customers, suppliers, competitors, agents, etc.
• All of this hopefully will lead to intrinsic and extrinsic benefits
• The net results of the various positive ethical outcomes attributed to a specific firm provide that firm with an enviable resource on which to capitalize
• The value of the firm's moral character (along with other attributes), can result in a market value of the firm that is greater than the firm's net assets
• This may be construed as goodwill
• Levels of strategy making

  • Macro or corporate
  • Micro or business unit
  • Individual/team or operational level
• The procedures must be consistent and logically sound and so do the strategies applied in communicating between different levels of people in and out of the organization
• The role of the public relations specialist comes into play by ensuring that consistency applies in all aspects
• Public relations


  A strategic communication process that builds mutually beneficial relationships between organizations and their publics
• Three important reasons to do PR in a business

  • Damage control
  • Branding
  • Internal communication
• Public relations functioning as a management incorporates


  • Anticipate, analyze and interpret public opinion, attitudes and issues
  • Counsel management at all levels
  • Research, conduct and evaluate programs of action and communication
  • Plan and implement the organization's efforts to influence or change public policy
  • Setting objectives, planning, budgeting, recruiting and training staff, developing facilities