Relevence Of Corporate Communication

Relevence Of Corporate Communication

Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. It is concerned with internal communications management from the standpoint of sharing knowledge and decisions from the enterprise with employees, suppliers, investors and partners. Examples include:

• Enterprises use annual reports as corporate communications tools to convey information related to results, processes and relationships of the enterprise. Typically, these communications occur on a yearly basis.
• Corporations use electronic and print newsletters to share corporate diversity hiring practices and information on new hires.
• Enterprises use corporate Intranets to create a corporate communication platforms to formalize processes around announcing requests to supplies to submit RFPs.

In corporate communications the object of communications work is company/enterprise itself as opposed to marketing communications where the object of communications is product/produce or service provided by the company/enterprise. The aim of corporate communications is building company's reputation among its stakeholders (as opposed to brand building in marketing communications).

Examples of corporate communications that we come across are the financial results. The quarterly results are announced by the companies in order to communicate their performance to the stakeholders. It has been very common now especially in the IT sector, where they announce the results quarterly and the share prices of the particular companies shoot up. This is one of the objectives of the corporate communications.