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Public Relations and Business

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Having a seat at the decision-making table is not a right, it is a privilege.

Think of it this way:
If you were planning an extended trip to Mexico, you would probably want to brush up on your Spanish before embarking.

You could probably get by without speaking Spanish, but you would be far more effective and much better accepted by the locals if you at least made an attempt to speak their native language.

It is not so different at the management table. There the participants are speaking the language of business.

They are talking about margin performance and market capitalization and earnings growth. They are discussing business strategy and market share and competitive position.

If you are not conversant in this terminology and the thinking behind it, you are at a distinct disadvantage as a team member.

In order to build persuasive communication programs that advance the objectives of the organization, the communication team, especially those who lead it, must first understand these objectives.

They must also understand the context in which the organization is pursuing the objectives—both the business context and in external forces. CCO’s Most Important Skill

The Page Society surveyed chief executive officers at large multinational corporations to determine how these CEOs viewed the role of the chief communications officer in a successful executive team.

According to results reported in the Authentic Enterprise white paper, the most important attribute of an ideal CCO or communications manager was detailed knowledge of the business.

This is far and away the most critical quality for a top communications executive.

All CEOs believe that their businesses are large and complex entities, and that their companies cannot be communicated well if their top communications executives do not intimately understand them. [1]

It is extremely important to build credibility with the publics you are trying to reach.

When a spokesperson for an organization cannot convey anything beyond what is contained in carefully scripted talking points, the recipient of the information loses trust and confidence in the individual.

Many reporters are reluctant to speak to a media relations professional if they believe that individual does not really understand the organization or the industry in which it operates.

Communication professionals who have a thorough understanding of business, government, community issues, and the specific organization they serve are simply more valuable contributors to the overall effort.

Gaining knowledge about an organization and its business objectives does not mean gaining the expertise needed to be CFO, General Counsel, or head of accounting.

There are some fundamental areas that are important to understand, general principles that will help communications professionals speak more credibly and work as more valued team members.

Example
publicly traded, for-profit companies all operate within a set of guidelines, standard benchmarks, and mileposts that help their publics gain insight about their financial health, prospects for growth, and competitive position.

These measures can provide a quick snapshot of an organization’s health in the same way that temperature, pulse rate, and blood pressure readings can give a physician a measure of a patient’s well-being.

How does one gain much of the knowledge referenced earlier in addition to staying current with rapid changes?

Education
A number of courses are offered that teach basic finance for nonfinancial managers.

Some communication professionals return to school to pursue a Master of Business Administration (MBA) or executive Master of Arts (MA).

Media
One can learn a great deal by simply following the business media, especially:

Conversation
Conversations with colleagues can provide incredible educational opportunities.

The ability to listen, to ask insightful questions and to learn from others enables the communication professional to gain ample knowledge of the workings of business in general and a single company or organization more specifically.
1
The Wall Street Journal
2
the major business magazines such as Business Week, Fortune, and Forbes
3
Broadcast media such as CNBC or Fox Business
4
The Internet also provides an endless source of information about individual companies and issues that affect all types of organizations and industries.

This knowledge, combined with an understanding of the industry and the ability to utilize communication expertise, provides a valuable combination of specialized abilities that can be used to benefit the entire organization.

[1] The Authentic Enterprise. (2007). New York: Arthur W. Page Society.