MCC604_C4.pdf - CHAPTER 4 l CHAPTER CORPORATE STRATEGIES AND PLANNING 4 Corporate Strategy And What is Ethics Planning LE AR NI NG OUTC OMES By the end

MCC604_C4.pdf - CHAPTER 4 l CHAPTER CORPORATE STRATEGIES...

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CHAPTER 4 1 l CORPORATE STRATEGIES AND PLANNING Corporate Strategy And Planning 4 By the end of this topic, you should be able to: Explain the importance of corporate planning and strategy; 1. Elaborate the strategy and planning in corporate communication; 2. Determine the importance of strategy, SWOT analysis and strategy intent. 3. CHAPTER LEARNING OUTCOMES
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2 CHAPTER 4 CORPORATE STRATEGIES AND PLANNING l INTRODUCTION Corporate communications involves research into all audiences: receiving information from them, advising management of their attitudes and responses, helping to set policies that demon- strate responsible attention to them and constantly evaluating the effectiveness of all corporate communications programs. This inclusive role embraces all activities connected with ascertaining and influencing the opin - ions of a group of people. Thus, this chapter focuses on: Corporate communications Research into all audiences Receiving information Advising management Helping to set policies Responsible attention to audiences Constantly evaluating the Effectiveness of all corporate communications programs STRATEGY INTENT: MISSION AND VISION STATEMENTS
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CHAPTER 4 3 l CORPORATE STRATEGIES AND PLANNING CORPORATE STRATEGIES AND PLANNING 4.1 The success of a company’s communication strategy is largely contingent on how closely the communication strategy is linked to the strategy of the business as a whole. This is illustrated in figure 4.1. In addition to thoughtful design and careful planning of firm strategy, a company must have strong corporate communication function to support its mission and vision. Strategy involves identifying the most important goals/objectives and implementing the policies to get there within the restraints of the organisation. Strategy is the direction and scope of an organisation through its configuration of resources within a changing environment, to meet the needs of markets and to fulfill stakeholders’ expectations. Strategy is a macro level of level orientation. Chandler (1962) has determined that strategy is a basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals. Quinn (1980) described a strategy as a pattern or plan that integrates an organisa- tion’s major goals, policies, and action sequences into a cohesive whole. A well-for- mulated strategy helps to allocate an organisation’s resources into a unique and vi- able posture based on its relative internal competencies and shortcomings, antici- pated changes in the environment and contingent moves by intelligent opponents. Chaffee (1985:90) grouped strategy definitions into 3 groups: Figure 4.2 shows the groups of strategy definitions.
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