PR2008Day2notes - The Opening COMM 2044 Principles of...

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The Opening COMM 2044 Principles of Public Relations Fall 2007
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2 It’s time for . . .
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3 Public Relations Principles 1. Organizations need resources from their environment in order to prosper. Tangible Symbolic
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4 Labor Coffee Beans Dollars from Sales Dollars from Stock Stores For instance, Starbucks needs . . .
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5 Public Relations Principles 2. Resources in the environment are controlled by significant individuals and groups. Labor Coffee Beans Dollars from Sales Dollars from Stock Stores Employees Suppliers Customers Investors Local Government
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6 Public Relations Principles 3. Symbolic resources may influence the distribution of tangible resources. The London Guardian , January 7, 2008: “Rising dairy prices, an economic downturn in America and a cut-price caffeine onslaught from McDonald's and Dunkin' Donuts have set alarm bells ringing about the prospects for the ubiquitous Seattle-based chain. Once a reliable investment for the firm's constant growth, Starbucks shares slumped by 42% during 2007, making them one of the worst large- cap performers on the Nasdaq exchange. A downgrade by analysts at investment bank Bear Stearns prompted a further 11% plunge last week.”
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7 Perceptions of financial performance influence financial behavior. Financial Analysts predict negative financial performance. Projections reduce investor confidence (a symbolic resource).
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