PR Final Project

PR Final Project - Online Resources Corporation: Public...

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Online Resources Corporation: Public Relations with a Professional Prospective Zachary Schatz PRL 206: Public Relations Principles and Concepts Dr. Brenda J. Wrigley May 2, 2011 Question #1: Background Information
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2 Online Resources Corporation, ORCC, is an organization that provides outsourced financial technology services between the consumer and the company’s financial institution and biller clients. These billers are any person or company that sends out bills such as a utility company for a gas bill. ORCC links banks directly to billers through web and phone-based financial services. Just as they say best on their website, “Online Resources owns, operates and drives critical banking, payment and marketing infrastructure that ensures a superior consumer experience and Internet channel success” ( http://www.orcc.com ). The company is not on the level of an upper tier corporate organization in terms of size, but still manages a respectable amount of clients. There are currently 630 employees at ORCC with about 2,000 clients. Part of the reason for the smaller size of the organization may be reflected by the fact that ORCC is only 22 years old, founded in 1989. The current headquarters is located in Chantilly, Virginia with other offices in New Jersey, Ohio and California ( http://www.orcc.com ). Online Resources Corporation may be a young, maturing organization, but in the past twenty-two years the company has reached numerous milestones. In the first year alone ORCC completed $750,000 of private financing. In 1995 Online Resources Corporation became the first remote banking outsourcer to support consumer Internet banking. By 2000 ORCC signed their 400 th financial institution client later being named the fastest growing technology company by Deloitte & Touche the following year. Next, in 2002, ORCC announced that the company had been profitable for 30 consecutive quarters. Since then the company has continued to grow, being viewed as a company that is far from reaching their peak ( http://www.orcc.com ).
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3 Easily accessible through their website, Online Resources Corporation discloses all executive bios. The President & CEO of ORCC is Joseph L. Cowan who has been serving as President since June 2010. The Senior Director of Corporate Communications, Beth Halloran, would be referred to as the top public relations practitioner as she is responsible for all public and investor relation activities ( http://www.orcc.com ). According to the systems theory, Online Resources Corporation would be classified to as an open system. Systems theory says that organizations are made up of interrelated parts and use these parts to adapt to the surrounding environment (Lattimore, 45, 2011). ORCC is classified as an open system as the company utilizes new information and feedback to improve the overall effectiveness and profitability of the organization (Lattimore, 45, 2011). It is evident by the steady growth of the company over the last twenty years that ORCC avidly seeks out information to help grow. The technology-
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PR Final Project - Online Resources Corporation: Public...

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