Corporate communication
CORPORATE
COMMUNICATION
Nowadays, companies face never-ending scrutiny, not just from the media, but from its employees, clients, regulators, investors or opinion leaders and experts in different sectors. Thus, there is need to protect and strengthen the relations of any organization with its stakeholders, in order to increase the value of the company based on a solid reputation, opinion capital and assertive communication processes, both internal and external.
For this integral task, the Practice Area of Corporate Communications has four work targets, as follows:
Based on the in-depth knowledge of the business’ characteristics and on the communications management expertise, the critical elements that constitute the company’s reputation identified are aimed at creating a discourse that would generate credibility and support from its stakeholders. Aside from a clear “history”, the communications project includes relations activities with the media, public relations and designing communication channels. Following that line and depending on the work plan demands, tools such as spokespersons training and effective communication are incorporated. These plans allow the corporate management to reach the organizations stakeholders and to build positive perceptions that are in tune with the organization’s reality.
Risk Management: In risk management, gaps between the organization’s reality and its stakeholders’ perceptions are identified, for these may affect the reputation without imposing an evident threat, unlike crisis situations. The analysis is conducted researching and reviewing all possible crisis scenarios that may arise, and it allows the organization to define the need for communication and/or management plans to close those gaps and mitigate, eliminate or transfer its reputation risk. Likewise, integral risk management allows to identify imminent risk, and consequently, to design crisis guidebooks to manage them properly, communication wise.
By definition, crises are situations or events that transcend to other stakeholders and that might generate negative attention towards an organization; they imply adverse effects over its financial, legal situation, and stakeholders, including the media and its market reputation.
Crisis management is aimed at planning, controlling and managing exceptional situations that represent imminent risks for the company. This task includes identifying possible adverse scenarios, planning messages, defining procedures and designing required communication tools.
In alignment, crisis management requires comprehensive preparation from an organization’s crisis team. Thus, spokespersons training, preparation of public presentations and crises drills become essential tools.
Following this framework, crisis management faces challenges as diverse as: legal issues (fines, sanctions, contracting processes with the State, licenses, legal procedures, among other), health and environmental issues, communities and labor affairs, product-related crises (product recall, dumping, competition, pricing, commercial issues, to name a few).
Financial communications are focused on designing strategies and action plans to help companies build or strengthen its relationships with the financial media, market analysts, shareholders, investors and regulators. From this starting point, the Corporate Communication area is oriented at 4 main objectives:
1. Define, protect and improve corporate reputation with the aim of increasing the company’s market valuation, guarantee visibility of its activities and prepare for possible risks and critical situations regarding the organization’s financial projects or economic issues.
2. Generate value for shareholders and investors improving the organization’s perception, optimizing its value and decreasing volatility. Support the understanding of an organization’s significant financial operations, such as mergers, acquisitions, issue of shares, and secure the best value for shareholders.
4. Increase control of the company on capital market activities, based on a dialogue with local or international investors or analysts.
Building relations with communities and CSR, environmental and sustainable development management, all of which have an impact on their beneficiaries or on the company’s perception. For many, work conducted in these fields is critical to consolidate reputation, and it is directly associated with enhancing competitiveness, employee loyalty, entry or expansion into new markets, and even business continuity. This work focus offers consulting services in the development of communication programs oriented at the promotion of projects among relevant stakeholders for the company and for achieving buy-in from their beneficiaries. We also support the development of alliances with the local and/or national government to streamline management schemes in terms of CSR, generate plans to build relations with NGOs and develop graphic identity tools for specific foundations, projects or programs.
The Reputation Radar is a qualitative and quantitative tool used to identify strengths and weaknesses in management and communication to address and use in the communication strategy. In-depth stakeholder interviews help to identify 6 variables with the objective of finding elements or arguments to explain the current state of an organization’s reputation.
THE EVALUATED VARIABLES ARE:
It is a response to its perception of quality, innovation and cost-beneftit relationship.
Seeks to evaluate the service quality perception, innovation and the satisfaction of the needs of beneficiaries as well as the relation of them with the company or entity.
Measures the perception of an organization’s financial component, its solidity, backup and future outlook,
Evaluates the company’s behavior in terms of communities and the environment, it also evaluates the stakeholders involved in its value chain, with the aim of establishing its recognition as an ethical and responsible citizen.
This variable examines the perception among stakeholders on the company’s leadership in the market, as well as its future vision.
Involves the perception of the people regarding the company’s work environment, career paths, if its a good place to work, its treatment towards employees, etc.
At the end of each interview, a quantitative evaluation is conducted to be the input for the analysis and presentation of results. The Radar is also a quantitative tool to measure mid and long term effectiveness of communications.
The audit identifies existing resources, background on the communications activities, and the tone and profile of those executing them. The audit includes a qualitative evaluation on three levels:
THE AUDIT INCLUDES THE EVALUATION ON THREE LEVELS:
Evaluation of the existing communications structure, functions, resources and tools.
Evaluation of institutional programs and/or activities on communications with different stakeholders, SWOT analysis.
Identification of stakeholders with which relations are active, people in charge, type of activities and its results.
Each level is explored alongside the company’s executives which have a role in the company’s communications including communications directors and employees in charge of institutional and corporate issues.
CONTACT
Darío Vargas, Senior Partner
Email: dariovargas@dattis.com
Andrés Ortiz, Senior Partner
Email: andresortiz@dattis.com
Paula Castillo, Strategy manager
Email: paulacastillo@dattis.com
María José Castaño, Strategy manager
Email: mariacastano@dattis.com
Camila Gómez, Strategy manager
Email: camilagomez@dattis.com
Sharyn Jaiquel, Strategy manager
Email: sharynjaiquel@dattis.com
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