Public relations (PR) can mean different things to different people, as the needs of businesses and public entities ebb and flow over time. PR can manifest through corporate governance, good or bad publicity, and integrated marketing initiatives ranging from paid ads to event sponsorships. Each of these manifestations has specific implications; today, we’ll explore PR in the context of corporate governance.
How and why a company engages in PR varies, as every firm has slightly different goals and objectives.
In the case of a large corporate entity, how the proverbial ship is steered can have a significant role in shaping public perception. Internal work culture, turnover, procurement practices, and investment choices all accumulate to determine how the general public sees a company. These factors are likely not significant enough to drive opinion. Still, collectively, you would be hard-pressed to see them ignored by the general public.
By now, Corporate Social Responsibility (CSR) is a well-established business doctrine that firms who are mindful of public perception seek to use as guiding principles. Corporate citizenship in this medium can take the form of environmental stewardship, abiding by ethical practices and philanthropy, and positively impacting not just firm profits but the holistic macroeconomic environment.
Through abiding by these principles, not only will shareholders and various stakeholders be happy, but the foundation of your business will often benefit. Good business practices vary in application, but the core tenets of CSR are universally healthy aspirations for any firm.
Contact the Daisy Group for a free consultation to learn how your business practices affect public perception and can affect your PR strategy.
