Summer Internship ReportOnCorporate Communications and the use of Social Media

ByRohan JangidA30201914047MBA Class of 2014-2016

Under the Supervision of

Prof.KrishnanIn Partial Fulfillment of Award of Bachelors of Business Administration

AMITY SCHOOL OF BUSINESSAMITY UNIVERSITY UTTAR PRADESHSECTOR 125, NOIDA - 201303, UTTAR PRADESH, INDIA

AMITY UNIVERSITY UTTAR PRADESH AMITY SCHOOL OF BUSINESS

DECLARATION

I, Rohan Jangid student of Master Of Business Administration from Amity School of Business, Amity University Uttar Pradesh hereby declare that I have completed Summer Internship on Corporate Communications and the use of Social Media as part of the course requirement.

I further declare that the information presented in this project is true and original to the best of my knowledge.

Date: 26/06/15 Rohan Jangid Enroll. No: A30201914037Place: Mumbai MBA Class of 2014-16

AMITY UNIVERSITY UTTAR PRADESHAMITY SCHOOL OF BUSINESS

CERTIFICATE

I hereby certify that Rohan Jangid student of Master of Business Administration at Amity School Of Business, Amity University Uttar Pradesh has completed Summer Internship on Corporate Communications and the use of Social Media, under my guidance.

Prof.KrishnanSr. Faculty Marketing dpt.

Acknowledgement

I am grateful to Siemens LTD. for providing me an opportunity to explore the operational aspects through Summer Internship Program

I am extremely grateful to Prof.Krishnan(My Faculty Guide) and Mr. Arun Soares (My Industry Guide) who gave me triggering points to think, to move ahead in my internship and directed me whenever needed. And also, for being a source of inspiration and guidance, for the constructive in valuable suggestions and constant support during my summer training and in materializing this report.

I also owe my thanks to all the office members of all the departments in the company especially Mr. Ashish Chaudhary (Asst. Manager), my work would not be completed without their co-operation.

20th June 2015 Student Name & Signature: Rohan Jangid Enroll. No: A30201914047 Program: MBA

Table of ContentTopicPage no.

Introduction & Company Profile6 - 11

Objective of the study12

Research Methodology13

Introduction of Management14 - 17

Activities In Event18 - 19

Event Planning

20 - 21

Evolution of Event Marketing

22 - 32

Event Management in Delhi32 - 33

Company's Profile34 - 36

Data Analysis37 - 38

Analysis & Interpretation39 - 52

Keys Problem53

Recommendations 54

Bibliography 55

Annexure I56 - 59

Annexure II60

INTRODUCTIONCorporate Communication is a management function or department, like marketing ,finance, or operations dedicated to the dissemination of information to key constituencies, the execution of corporate strategy and the development of messages for a variety of purposes for inside and outside the organization In todays global corporation, this function serves as the conscience of the corporation and is responsible for the organizations reputation. Previously called public relation or public affairs, corporate communication has taken on new importance in the 21st century as a result of crises at companied like Enron and Toyota.The department usually oversees communication strategy, media relations, crisis communication, internal communications, reputation management, corporate responsibility, investor relations, government affairs and sometimes marketing communicationThe person running the department is the chief communications officer of the firm and reports directly to the chief executive officer in many of the global organizations due to critical importance of the function today

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EXECUTIVE SUMMARY:In today's fast-paced business environment, employees at all levels find themselves being asked to handle more tasks, meet more deadlines, take on more responsibilities, and adapt to more change. Added to these challenges is the constantly shifting diversity of the workplace, where coworkers cope with generational, gender, age and cultural differences. Communication, both verbal and nonverbal, is at the foundation of everything we do and say, and is especially important in the 21st century workplace. The good news is that communication is a learned skill, and can be improved upon with the right training. The focus of this course is to heighten students awareness of workplace communication, and add new interpersonal skills, with the end result of becoming a more competent communicator overall. Target areas include: the process and functions of communication, behavioral patterns, perceptions as reality, verbal and nonverbal cues and behaviors, confidence, assertiveness, tact, anger management, criticism and constructive feedback, conflict resolution, team building, leadership, interviewing, and communicating more effectively with technology (email, Skype, texting, etc.).

Company Profile : Siemens

History:Werner von Siemens was born on December 13, 1816Born as the fourth of 14 children to a tenant farmer in Lenthe near Hanover.With tight financial situation, Werner von Siemens could not take his final exams and instead joined the Prussian army to gain access to engineering training This created a solid base for his future work in electrical field. Werner von Siemens once said, I have a dream of founding a worldwide business, with power and reputation. Few entrepreneurs of that period had the determination of Siemens, who sought international success with inventions. Besides being a businessman, he was also a great scientist. Amongst his many inventions, the most important discovery was the dynamo electric principle. In 1847, Werner von Siemens constructed the pointer telegraph .This innovation laid the foundation of our Company, Siemens & Halske Telegraph Construction Company, Berlin.

Some Early Inventions:1866: Discovery of dynamo-electric principle1879: First electric Railway1899: Three-phase express Railcar1930: Construction of Multi- purpose electric locomotive1939: Production version of Electron microscope1958: Worlds first implantation of CardiacPacemakerFirst Steps In India:

In 1867, Siemens started construction of the Indo-European telegraph from London toCalcutta This was to facilitate the Queens request to communicate from London to her people in colonial India Our founder personally supervised laying of this line The line ran from London to Beriln, Warsaw, Teheran and Calcutta It covered a distance of 12,000 Kilometers and transmitted a message in just 28 minutesFirst own branch in India: In 1922, Siemens opened its first branch in Calcutta and subsequently set up offices in Bombay and Rangoon During World War II, the companys assets and properties were confiscated, forcing the company to abandon operations. Even so, Siemens never gave up and re-entered after the war. Ernst von Siemens had then recognized the potential of India, when he said, How can we ignore a Country of 380 million people?

Re-entry in India: Around 1954, a team from Siemens came to India and started operating as a department under the umbrella of Protos Engineering Company Pvt. Ltd. In 1956, a small workshop was set up under the Mahalaxmi bridge, Bombay,with handful of people. Here, operations began with repairs and assembly of Switchboards.

Birth of Siemens in India:On March 2, 1957, Siemens was incorporated under the name Siemens Engineering & Manufacturing Co. of India Private Ltd. The company was registered under the Indian Companies Act. In 1961, Siemens became a Public Limited company with restricted external shareholding. In 1971, Siemens was listed on the stock exchange.

.The journey continues:1957: Manufacturing of Switchboard at Worli works Bombay.1959: Manufacturing of Medical equipment at Worli Works, Bombay.1960: Manufacturing of Switchgears1966: Production of Motors at Kalwa.1981: Manufacturing of Switchboards at Nashik.1991: Low Voltage Switchgear factory at Aurangabad.1993: Manufacturing of Digital Switching system at Salt Lake Works SPCNL was set up.1995: Manufacturing of Medical equipment at Goa.1995: Osram India Ltd. set up with a factory at Sonepat.1998: Formation of Siemens Hearing Instruments Pvt. Ltd.2001: Setting up of Technical Skills Development Center in Kalwa2004: Corporate Technology center setup in Bangalore2006: Acquired Isolator business of Elpro and a stake in Flender Ltd.2006: 50 years of manufacturing presence.2007: Setting up Transformer factory, Kalwa and Turbines factory, Vadodara.2009: Setting up of Bogie factory, Aurangabad.2010: Expansion Of Steam Turbine & Compressor Factory,Vadodara.

A Rs 12,000 crore company in India With 21 manufacturing facilities in the country with over 60 offices A company with an excellent image and reputation; also recipient of numerous awards and accolades, the latest one being the Most Respected Company in India in the engineering Sector from Business WorldMissionSiemens is a global and innovative network of people Who use their knowledge in the field of electrical engineering and electronics and electrical engineering to benefit customers throughout the world Who learn continually Who work together closely Who have the courage to make quick decisions Who are proud of their efforts to contribute to the companys success

Vision:Over the last 50 years, We have been empowered to dream. Empowered to perform. Empowered to achieve. Empowered to excel. And turn the impossible intopossibleAs our founder did.

Values:Deliver on commitmentsDelight customersDevelop people

Siemens Businesses

Electrification, automation and digitalization are the long-term growth fields of Siemens. In order to take full advantage of the market potential in these fields, our businesses are bundled into nine divisions and healthcare as a separately managed business.

Power and Gas:The Power and Gas Division is the trusted partner for world class products and solutions for the oil and gas, power and industrial markets. The Division is dedicated to deliver its customers reliable, efficient, clean and safe products and solutions.

Energy Management:The Energy Management Division is one of the leading global suppliers of products, systems, solutions, and services for the economical, reliable, and intelligent transmission and distribution of electrical power. The portfolio includes facilities and systems for the low-voltage and distribution power grid level, smart grid solutions and high-voltage transmission systems.

Digital Factory:The Digital Factory Division offers a comprehensive portfolio of seamlessly integrated hardware, software and technology-based services in order to support manufacturing companies worldwide in enhancing the flexibility and efficiency of their manufacturing processes and reducing the time to market of their products.

Financial ServicesThe Financial Services Division (SFS) provides business-to-business financial solutions. Around the globe, we support customer investments with project and structured financing as well as leasing and equipment finance.

Wind Power and Renewables:The Wind Power and Renewables Division is a leading supplier of reliable, environmentally-friendly and cost-efficient renewable energy solutions. Driving down the cost of wind power is our key target as we strive to make renewable energy fully competitive with conventional energy sources.

Building Technology:

Building Technologies is the world market leader for safe, energy efficient and environmentally friendly buildings and infrastructure. As a technology partner, consultant, service provider, system integrator and product supplier, Building Technologies offers fire protection, security, building automation, heating, ventilation and air conditioning (HVAC) and energy management products and services.

Process Industries and Drives:Measurably increase your productivity and improve your time to market with innovative, integrated technology across the entire lifecycle. We support you in continuously improving the reliability, safety, and efficiency of products, processes and plants.

Key People:

Sunil Mathur | Managing Director and Chief Executive Officer

Mr. Sunil Mathur is Managing Director and Chief Executive Officer, Siemens Ltd. Mr. Mathur earned a Bachelor of Science degree from Punjab University and is a Chartered Accountant (member of the Institute of Chartered Accountants of India). He has been with Siemens for over 26 years, holding several senior management positions in Germany and the UK in the Energy and Industry Sectors. Starting his career in the Internal Audit team in Delhi in 1987, he moved on to join the Business Administration Group in the Energy Sector. He was Cluster CFO for South Asia in July 2008 and was Executive Director and Chief Financial Officer of Siemens Ltd. from December 2008 till December 2013. During his stint as the CFO of Siemens India, Mr. Mathur was part of Siemens AG CFOs Management Team that consisted of the Sector CFOs, the Heads of the Corporate Departments and selected Country CFOs.

Christian Rummel | Executive Director and Chief Financial Officer

Mr. Christian Rummel earned his German High school degree and graduated in Business Management (Industriekaufmann). He has been with Siemens for over 24 years during which he has held various management positions. Mr. Rummel began his career in Siemens AG as a Commercial Apprentice in 1989 and soon thereafter took over the role of Finance Manager Sales (Power Transmission & Distribution), Mannheim, Germany. In 2004, he was appointed as Vice President - Finance & Business Administration, Energy Sector, Germany and in 2006 as Managing Director & Chief Financial Officer, Audiology Solutions Business Unit, Healthcare Sector, Germany. Mr. Rummel was till recently the Senior Vice President & Chief Financial Officer, Molecular Imaging, and Healthcare Sector since 2009 based in USA.

Objectives of the study

The main purpose of this study is to study the Corporate Communications and the use of Social Media

Study the problems faced by corporate communications Study the relevance of corporate communications Study the barriers in corporate communication Keys to successful corporate communications Importance of Corporate Communication Benefits of Corporate Comcmunication

Research Methodology

The research methodology used in this project is Data collection. Detailed discussions with event management firms and the corporate clients. Subsequent additions were made to the interview schedule to suit the specific events under study. The information gathered was studied and analyzed. It reveled certain issues in event marketing which need further attention and some suggestions have been given to make the Event Marketing industry more effective in order to utilize its full potential and be mutually beneficial for the Event Marketing agency, the Corporate and the customer

Primary Sources: Survey Method with random sampling was used Sample size was 50 Pilot study with Questioner was used for gathering of data

Secondary Sources:The secondary information was gathered from: various marketing journals and books on event marketing internet websites Daily newspaper reading in order to keep track of various kinds of events also proved helpful.

Tools Used for analysis: SPSS (Statistical Package for the Social Sciences) was used to analyses the data which was collected, to attain the maximum accuracy possible..

Introduction to Corporate Communication

Corporate communicationis a set of activities involved in managing and orchestrating all internal and external communications aimed at creating favorable point of view among stakeholders on which the company depends.It is the messages issued by a corporate organization, body, or institute to its audiences, such as employees, media, channel partners and the general public. Organizations aim to communicate the same message to all itsstakeholders, to transmitcoherence,credibilityandethic. Corporate Communications help organizations explain their mission, combine its many visions and values into a cohesive message to stakeholders. The concept of corporate communication could be seen as an integrative communication structure linking stakeholders to the organization. Methods and tacticsThree principal clusters of task-planning and communication form the backbone of business and the activity of business organizations. These includemanagement communication,marketing communication, andorganizational communication. Management communicationtakes place between management and its internal and external audiences. To support management communication, organizations rely heavily on specialists in marketing communication and organizational communication.[citation needed] Marketing communicationgets the bulk of the budgets in most organizations, and consists of product advertising, direct mail, personal selling, and sponsorship activities. Organizational communicationconsist of specialists in public relations, public affairs, investor relations, environmental communications, corporate advertising, and employee communication.The responsibilities of corporate communication are: to flesh out the profile of the "company behind the brand" (corporate branding) to minimize discrepancies between the company's desired identity and brand features to delegate tasks in communication to formulate and execute effective procedures to make decisions on communication matters to mobilize internal and external support for corporate objectives to coordinate with international business firmsA Conference Board Study of hundreds of the USs largest firms showed that close to 80 percent have corporate communication functions that include media relations, speech writing, employee communication, corporate advertising, and community relations. The public is often represented by self-appointed activist non-governmental organizations (NGOs) who identify themselves with a particular issue.Most companies have specialized groups of professionals for communicating with different audiences, such as internal communication, marketing communication, investor relations, government relations and public relations.

Corporate brandingA corporate brand is the perception of a company that unites a group of products or services for the public under a single name, a shared visual identity, and a common set of symbols. The process of corporate branding consists creating favorable associations and positive reputation with both internal and external stakeholders. The purpose of a corporate branding initiative is to generate a positive halo over the products and businesses of the company, imparting more favorable impressions of those products and businesses.In more general terms, research suggests that corporate branding is an appropriate strategy for companies to implement when: there is significant "information asymmetry" between a company and its clients;[3]That is to say customers are much less informed about a company's products than the company itself is; customers perceive a high degree of risk in purchasing the products or services of the company; features of the company behind the brand would be relevant to the product or service a customer is considering purchasing

Corporate and organizational identity:There are two approaches for identity: Corporate identityis the reality and uniqueness of an organization, which is integrally related to its external and internal image and reputation through corporate communication[6] Organizational identitycomprises those characteristics of an organization that its members believe are central, distinctive and enduring. That is, organizational identity consists of those attributes that members feel are fundamental to (central) and uniquely descriptive of (distinctive) the organization and that persist within the organization over time (enduring)".[7]Four types of identity can be distinguished: Perceived identity: The collection of attributes that are seen as typical for the continuity, centrality and uniqueness of the organization in the eyes of its members. Projected identity: The self presentations of the organizations attributes manifested in the implicit and explicit signals which the organization broadcasts to internal and external target audiences through communication and symbols. Desired identity (also called ideal identity): The idealized picture that top managers hold of what the organization could evolve into under their leadership. Applied identity: The signals that an organization broadcasts both consciously and unconsciously through behaviors and initiatives at all levels within the organization.

Corporate responsibility Corporate responsibility (often referred to ascorporate social responsibility),corporate citizenship, sustainability, and evenconscious capitalismare some of the terms bandied about the news media and corporate marketing efforts as companies jockey to win the trust and loyalty of constituents. Corporate responsibility (CR) constitutes an organizations respect for societys interests, demonstrated by taking ownership of the effects its activities have on key constituencies including customers, employees, shareholders, communities, and the environment, in all parts of their operations. In short, CR prompts a corporation to look beyond its traditional bottom line, to the social implications of its business.

Corporate reputationReputationsare overall assessments of organizations by their stakeholders. They are aggregate perceptions by stakeholders of an organization's ability to fulfill their expectations, whether these stakeholders are interested in buying the company's products, working for the company, or investing in the company's shares. In 2000, the US-based Council of PR Firms identified seven programs developed by either media organizations or market research firms, used by companies to assess or benchmark their corporate reputations. Of these, only four are conducted regularly and have broad visibility: "America's Most Admired Companies" byFortune Magazine; The "Brand Asset Valuator" byYoung & Rubicam; "RepTrak" by Reputation Institute. "Best Global Brands" byInterbrand. Crisis communicationsCrisis communication is sometimes considered a sub-specialty of the public relations profession that is designed to protect and defend an individual, company, or organization facing a public challenge to its reputation. These challenges may come in the form of an investigation from a government agency, a criminal allegation, a media inquiry, a shareholders lawsuit, a violation of environmental regulations, or any of a number of other scenarios involving the legal, ethical, or financial standing of the entity. The crisis for organizations can be defined as follows: A crisis is a major catastrophe that may occur either naturally or as a result of human error, intervention, or even malicious intent. It can include tangible devastation, such as the destruction of lives or assets, or intangible devastation, such as the loss of an organization's credibility or other reputational damage. The latter outcomes may be the result of management's response to tangible devastation or the result of human error. A crisis usually has significant actual or potential financial impact on a company, and it usually affects multiple constituencies in more than one market. Internal/employee communicationsAs the extent of communication grows, many companies create an employee relations (ER) function with dedicated staff to manage the numerous media through which senior managers can communicate among themselves and with the rest of the organization. Internal communication in the 21st century is more than the memos, publications, and broadcasts that comprise it; its about building acorporate cultureon values that drive organizational excellence. ER specialists are generally expected to fulfill one or more of the following four roles: Efficiency: Internal communication is used primarily to disseminate information about corporate activities. Shared meaning: Internal communication is used to build a shared understanding among employees about corporate goals. Connectivity: Internal communication is used mainly to clarify the connectedness of the company's people and activities. Satisfaction: Internal communication is used to improvejob satisfactionthroughout the company.

Investor relations The investor relations (IR) function is used by companies which publicly trade shares on a stock exchange. In such companies, the purpose of the IR specialist is to interface with current and potential financial stakeholders-namely retail investors, institutional investors, and financial analysts.The role of investor relations is to fulfill three principal functions: comply with regulations; Create a favorable relationship with key financial audiences; contribute to building and maintaining the company's image and reputation.

Public relations: Issues management and media relationsThe role of the public relations specialist, in many ways, is to communicate with the general public in ways that serve the interests of the company. PR therefore consists of numerous specialty areas that convey information about the company to the public, including sponsorships, events, issues management and media relations. When executing these types of activities, the PR Specialist must incorporate broader corporate messages to convey the companys strategic positioning. This ensures the PR activities ultimately convey messages that distinguish the company vis--vis its competitors and the overall marketplace, while also communicating the companys value to target audiences.

Issues managementA key role of the PR specialist is to make the company better known for traits and attributes that build the companys perceived distinctiveness and competitiveness with the public. In recent years, PR specialists have become increasingly involved in helping companies manage strategic issues public concerns about their activities that are frequently magnified by special interest groups and NGOs. The role of the PR specialist therefore also consists of issues management, namely the set of organizational procedures, routines, personnel, and issues.A strategic issue is one that compels a company to deal with it because there is a conflict between two or more identifiable groups over procedural or substantive matters relating to the distribution of positions or resources.

Media relationsTo build better relationships with the media, organizations must cultivate positive relations with influential members of the media. This task might be handled by employees within the companys media relations department or handled by a public relations firm.

Company/spokesperson profilingThese "public faces" are considered authorities in their respective sector/field and ensure the company/organization is in the limelight. Managing content of corporate websites and/or other external touch points Managing corporate publications - for the external world Managing print mediaKeys to Successful Corporate Communication Councils need to be clear about what they want to be famous for. No organization can communicate unless it has clarity of purpose which can be expressed concisely in a way that passes a "pub test". Can your staff or councilors to explain the purpose of the authority?2. They need to understand how their reputation really stands in the community. Too many organizations believe that their corporate values are their brand; they are mistaken. Their reputation is the sum of opinions that people assess from their actions. Understanding this, through research and engagement, is critical to communications.3. Great communications is established because the leadership team of the organization is united in its belief in the purpose of the organization, and because it has the skills to embody and articulate that mission. If in doubt, train your council's leadership to test how well they communicate the organization's message.4. Communications should run as part of a campaign with a purpose, preferably a fight against injustice and certainly a call to action. Campaigns must have a beginning, a middle and an end. Campaign activity should be coherent and reinforce the core purpose. If it doesn't, why is it taking place? Each campaign should have a clear goal in terms of improved perceptions, increased understanding or changed behavior.5. Communications must be implemented consistently, proactively and be constantly reinforced. Saying things once, twice or three times doesn't work. A message needs to reach the target group around 10 times before it makes an impact.6. The communications toolbox has got bigger, but choose your tools carefully. Mass media still reaches large audiences. TV, radio and the daily newspapers have a powerful impact. Social media matters, but should act as a support to the main tools of communications.7. Never assume that anything will go right. Too many initiatives fail with mistakes in the detail from inaccurate briefings, dodgy public address systems or late-running speakers ruining events. Communications requires evidence of competence to instill public confidence in the organization.8. Communication should build advocates. Identifying people who support your cause should be a primary goal of any communications campaign, and utilizing them to support your drive to enhance reputation is essential. What is the point of celebrities unless they can be harnessed to promote the public good?9. Mobilize every part of the organization that communicates to work together. Communicators are usually and wrongly found across most offices separated into public relations, marketing, customer service, web and policy. They should work together and sit together in one place to develop integrated communications.10. Evaluate your communications. Too much money is spent on leaflets, posters and websites, and too little on research and evaluation. Working out what works has to be integral to a good communication strategy. Westminster's campaign research informs everything we do, and allows us to make incremental improvements that increase mail open rates, publications read and media hits all improving the effectiveness of communications, and enhancing reputation.

Limitations of Corporate Communication

Corporate Communication Officers proudly speak about the growing strategic importance of their departments in the context of Stakeholder Relationship Management. Indeed, no CEO in the world would deny the significance of stakeholder and internal communications as today information about a company is "created, exchanged and modified by ecosystem of employees, customers, partners, communities and interest groups" (FT). But while experts are permanently adding new terms to the already big pool of communication and lobbying experts it becomes clear that these highly skilled people are powerless when severe crises occur. Neither a "Corporate Communications Officer", nor a "Corporate Affairs Director" or "Chief Attention Officer" (the latest invention) will be able to compensate top management's failure and prevent the company from a blow to its reputation. We are currently seeing desperate communication professionals facing gigantic reputation crises such as UBS' subprime loan involvement or Nokia's shut down of its profitable operations in Germany. The solution ? A 360 Reputation Management Programme which incorporates all reputation drivers i.e. Corporate Governance, Corporate Social Responsibility, Stakeholder Relationship Management - and Communications in all its facets

What Is the Importance of Corporate Communication?

External Functions of Corporate CommunicationsCorporate communications serve several audiences and purposes external to the organization. Companies need to communicate effectively to the media, so they engage public or media relations professionals. If organizations need to liaise with government agencies or if they lobby, they need government relations experts. Public companies need to employ investor relations specialists. Some companies may have specific individuals to handle relations in the community, such as charitable or volunteer works.Internal Functions of Corporate CommunicationsA common aspect of internal corporate communications is employee relations -- ensuring accurate and consistent communication with employees. This communication can be both formal and informal. The employee handbook, memoranda and employee reviews are examples of formal communications; personal or ad hoc conversations would be informal communications. Regular and well-executed employee communications is particularly critical during tumultuous times for an organization to ease anxieties, boost morale and inhibit inaccurate information that may trickle outside the organization.Crisis CommunicationsCrisis communications is a facet of corporate communications that deserves special attention. Companies and high-profile individuals can find that one crisis and how it is handled can forever alter their corporate path. It could be a product failure, employee injuries, an executive firing or mass layoff, a natural disaster that affects a corporate facility or just an unsubstantiated rumor. Every organization needs to have a crisis communications plan in place before the crisis, with a designated spokesman and crisis team on which to call. Particularly with current social media, proactive planning is essential to the overall health of corporate communications.Areas of Study and CareersDepending on how colleges and universities organize their communications studies, if you are interested in corporate communications, you will likely study public relations, organizational communications, technical communications or similarly-named courses . Careers include investor relations, public relations, marketing communications, community relations, media relations, government relations or an area in human resources or employee training. The Bureau of Labor Statistics projects that public relations managers and specialists -- including those handling corporate communication functions -- will find a job outlook of better than average up to 2020.

Benefits of Corporate Communication

As business practices continue to evolve due to global competition and technological advancements, corporate communication has become an even more important vehicle for establishing brands and increasing sales. Having an effective corporate communications strategy also helps organizations build relationships with prospects and customers strengthen company culture and establish leadership in their industry.

Public Relations and Brand IdentityCompanies, particularly startups and small businesses, can build their brands through public relations (PR) and a strong corporate communications strategy. PR managers and specialists speak frequently with media relations personnel and build relationships with journalists, editors and publishers that reach their companies & target audiences. For example, organizations send out press releases on news media wires to publicize product launches, leadership appointments and other company news. Media personnel also contact senior executives for interviews or bylined articles (articles contributed by and credited to external authors) that offer insights into the latest trends in their industries. Generating positive publicity positions companies favorably in the public's mind, persuading consumers to become customers on the basis of brand-name recognition and reputation. Crisis ManagementSometimes companies are blamed for, or associated with, situations involving negligence, accidents or scandals. To save their reputations, companies go into crisis-management mode to prevent further damage to their brands and possible declining sales. Usually managed by the PR team, crisis management involves constant communication with the media, analysts and government officials, either through a CEO, senior executive or company spokesperson. Corporate executives may also send communications to shareholders, or speak with investors directly to avoid panic in the stock market and a sharp decrease in share prices. Customer RetentionThe Internet is constantly changing the way companies communicate and market to customers. One way that organizations deliver customer service is by responding to customer comments and posts on Facebook, Twitter and other social networking websites. Companies also post messages on websites that alert customers and prospects about upcoming product launches, sales promotions and new publications. Other effective communication vehicles that help companies strengthen their relationships with customers include weekly, monthly and quarterly newsletters, as well as online webcasts. Newsletters and webcasts are common online communication tools for companies that wish to send out a unified corporate message simultaneously to numerous customers, prospects, partners and media personnel. Knowledge Sharing Internal communications is becoming increasingly important as companies become more diverse and less homogeneous. Employers use various communication tools such as Intranets (companies' internal websites) and newsletters to keep employees informed about promotional opportunities, industry trends and best practices. Internal online meeting places such as Intranets also facilitate collaboration between different departments, and create an environment that is open to frequent and consistent knowledge sharing.

Social Media and the Evolution of Corporate Communication

Social media has revolutionized corporate communications. Social media marketing allows companies to communicate directly and instantly with their stakeholders, marking a shift from the traditional one-way output of corporate communications, to an expanded dialogue between company and consumer. This paper aims to examine the relationship between social media and corporate communications, specifically focusing on the uses of social media for public relations and analyzing the changes that have occurred within the industry as a result of social media tools. Social media marketing is an umbrella term that includes the use of social media for sales, marketing, customer service and public relations, indicating a convergence of these traditionally separate corporate departments. Social media consists of online technologies, practices or communities that people use to generate content and share opinions, insights, experiences and perspectives with each other (Television Bureau of Advertising, Inc., 2009). Examples include blogs (e.g. Blogger, Wordpress), Wintranets, podcasts, video sharing (e.g. YouTube), photo sharing (e.g. Flickr), social networks (e.g. Facebook, MySpace), wikis (e.g. Wikipedia), gaming sites, virtual worlds (e.g. SecondLife), micro-blogging (e.g. Twitter), videoconferencing, instant message chats, social event/calendar systems (e.g. Eventful), social bookmarking sites (e.g. Delicious, Digg, StumbleUpon), and news aggregation sites, among others. In the last decade these technologies have risen in popularity and ubiquity, and are being utilized by public relations practitioners to perpetuate the ever-changing industry of corporate communications. While it represents many different technologies, social media will be referred to in the singular form throughout this paper. In todays corporate world, the success or failure of any company hinges on public perception. The opinions of key company stakeholders, such as shareholders, investors, consumers, employees or members of the community in which the organization is based, are all crucial to the long-term success of the company, and should be viewed as such by executives. Social media allows for corporate communications opportunities that a decade ago would not have been plausible. Public relations is an old industry that has relied on the same tactics and formulas for much of its history, and that has traditionally been measured by the amount of media coverage resulting from output company messages. Social media is rapidly changing the way that public relations campaigns or programs are distributed and measured. Rather than the traditional method of pure output completely company-controlled messages being broadcast to the stakeholders social media has forced corporate communications to shift to a dialogue in which the stakeholders, and not just the companies, have power over the message. Social media allows stakeholders to ask questions and have those questions answered directly by corporate executives and for corporate executives to receive important feedback and even ideas from their stakeholders). A public relations in the traditional sense has come to be seen by many as smoke and mirrors, deceptive messages being created by spin doctors. Because of this, many people have come to distrust media the traditional means by which the industry is measured and put more trust in the opinions of their peers, which they have access to on social media sites Social media not only offers an opportunity for direct and instant corporate communication, but also an opportunity to get back to the ideal basics of public relations building and maintaining relationships and to change some of the negative stereotypes typically associated with the industry.

EVOLUTION OF CORPORATE COMMUNICATIONBusiness communication involves two parties exchanging ideas to advance a commercial enterprise, whether its two people on a shop floor making a product or two companies entering a merger. Like any interaction, business communication must deal with disruptions. Technological innovations have presented solutions and obstacles in the communications process. Business communication has evolved in response to overcoming the obstacles, especially as each solution presents the potential for a new set of c Early Mechanics:Early on, during the Industrial Revolution, corporate communications typically flowed one way, with executive leadership pushing messages down through management layers and eventually to line workers, who were expected to simply comply. Management didnt even need to directly carry the message: secretaries or stenographers operated the typewriter, and the work force read the notices posted on bulletin boards. Faster, lower-cost presses and the rise of unions gave the low-line labor its voice, which it used to broadcast its feedback to management, whether the leaders wanted to hear it or not.Meeting in the Middle: Union representation met more with mid-level management to formally present feedback, usually in a list of grievances or demands for better recompense for working conditions. This middle man approach proved cumbersome, and management recognized that they could resolve issues more quickly and less costly by talking directly to the rank and file. Rather than passively absorbing reports compiled by others, leaders got out and walked the floor, asking questions and getting direct feedback. As employees became more accustomed to seeing their leaders, they grew more confident in contributing ideas and solutions to managers. However, leadership can carry just so much verbal discourse before some loss or distortion took place. Staff also wanted credit for their contribution, rather than letting management take all the recognition. Technological developments soon addressed these concerns.

Stronger Voices from Below:

As employee safety, productivity and cost savings, and harassment issues grew, so did the ability for management to respond to worker concerns and address problems as they arose, closing the communications gaps. Computer and telephone systems developed and grew more common, starting with larger companies that could afford computer mainframes and intra-company phone exchanges to better connect staff and management. Desktop publishing grew as well, providing another channel for management to broadcast announcements and recognition to employees and employees in turn to share ideas and questions with one another as well as back up to the top.Communicating in Information Age:Technology boomed in the late 20th century, giving companies a plethora of choices depending on their size, spread and structural complexity. Videotape followed by DVD allowed executives to disseminate multi-media programming to staff for announcements and higher-grade training; closed-circuit television allowed for the possibility of virtual conferencing around the globe. Newsletters and bulletin boards migrated to company Intranets. But the biggest leap in communications involved electronic postings of individual messages. Anyone could send email to anyone else, anywhere, anytime, allowing fast communication and a paperless "paper trail" of who set what set of information to whom at which time. However,e-mail has become so ubiquitous, its actually harder to get ideas across, as people filter out or ignore messages, restricting access to their attention and at times missing important information because it looks too much like the "junk" mail (or spam) they receive in the course of a day.Next Direction: The next stage in the evolution of business communication may in one sense be a throw-back to the early 20th century, namely with workers taking back control of the news feed. Rather than passively soaking in or sometimes failing to filter out all the emails, staff could subscribe to the Really Simple Syndication feeds that are most relevant to their job. These feeds can be split out and identified by topic; so a company could develop RSS feeds by department, or by project. As new announcements surface or reports update, the feed distributes only the information relevant to the topic, and thus the viewer. The feed usually presents just the headline and synopsis; the reader can choose to follow a link to a full message if he wants to pursue more information

Ways Social Media can boost Corporate Communication

More than likely, your company or organization is up to its eyeballs in social marketing. Facebook Offers, Twitter Ads and the like can sell a lot of stuff.. But lets not forget that social media is first and foremost about communication, not simply selling or servicing. Its about connecting people and ideas through engaging, authentic conversation. Sound familiar, corporate communicators? So how should corporate communications use social media?

Admittedly, traditional corporate communications often lacks the sizzle of the sales tactics employed by social marketers, but were experts when it comes to telling stories that unite people and move them to a desired belief or behavior. There are a number of ways corporate communicators can put social media to work.Amplify your internal messages your companys operations

.Amplify Your Internal messagesYour companys employees are your most natural, built-in audience. Seeding reminders about your social media activities in your internal communications channels is one way to quickly grow your following. No mixed messages, though: make sure your social media content echoes the same themes youre emphasizing internally. Elements of your vision, values and operating principles are easily incorporated into your social media content, further underscoring their importance with employees, not to mention educating the public on what your company is all about. Of course, not every internal message will be appropriate to share publicly, so choose wisely those topics that will inspire, engage and enhance pride with all of your followers.Reach the hard-to-reach your companys operations.

Reach the hard to reachTake advantage of our obsession with smart phones and reach front-line and field workers anyone who doesnt sit at a computer all day where they already are: mobile social networks. Keep employees in distant locales in touch with the corporate headquarters, and vice versa, by sharing local award celebrations, safety milestones, socially responsible activities and other news of interest. At the same time, youll open up a virtual passport that may expand your followers perspective on your companys operations.

Humanize a faceless entityHow often have you wondered what it would be like to work at your favorite companies? Follow the lead of respected employers, like Dallas-basedContainer Store,and give fans a glimpse with behind-the-scenes photos on Instagram. Shine a six-second spotlight on your employees and introduce your followers to the people who make the company what it is with a series of Vine videos. Your current employees will appreciate the attention and prospective employees will picture themselves fitting right in.

Executive VisibilityPhotos and video rule the social web; most business leaders travel. Pair the two and youll expand your executives visibility while offering a glimpse into their perspective on the business and the world at large. On Google Plus, a Hangout with an executive or in-house expert can take the form of an informative webinar, interactive Q&A session or even a press conference. Wise use of your senior management on social media can build the companys credibility by showing that its leaders are credible in the business and industry.

Do goodWhen a Kimberly-Clark employee battling brain cancer set his sights on winning a spot in the Kona Ironman Triathlon, the companyrallied followers on Facebookto vote in the video contest. How about dialing up participation in (and visibility for) your companys United Way campaign by offering incentives for employees to post or tweet from the festivities with your hashtag, or inviting your interns to create videos expounding on their successful summer projects? This digital paying-it-forward may not speak to the companys bottom line, but it will speak to the heart of those who follow you

Corporate Communication Strategy Framework

A corporate communication strategy framework helps businesses influence important stakeholders.

A corporate communication strategy framework is a tool for planning communication with your employees, customers, suppliers and investors. You can use the framework to build a better understanding of your company and enhance your reputation with people whose attitudes and actions influence the success of your business.

StakeholdersThe communication strategy framework identifies each of the groups you must influence and describes the attitudes you want them to have. Employees and prospective employees should have confidence in your company and consider it a great place to work. Customers should believe you meet their needs with quality products and excellent service. Suppliers should feel that working with you is good for their business. Investors should be confident that your company is well managed and has good prospects for the future.Research:To develop your communication plan, find out more about the actual attitudes of each group and compare the results with your target. Research the publications that each group reads and check them to find references to your company or your products. Look for similar information on social networking sites. Ask sales representatives for their views on customers attitudes. By identifying areas where your company is misunderstood or unknown, you can establish communication tasks and set priorities.

Strategy:The framework provides you with a clear view of the people you have to influence and the scale of the work involved in meeting your communication goals. You can now develop a communication strategy that aligns with your business strategy. If your business strategy is to expand by attracting more customers or entering new markets, your communication strategy must focus on building positive attitudes among customers and prospects. You may need to adopt a strategy of expanding your operations to meet strong demand from the market. Your communication strategy should focus on attracting high-caliber employees and convincing investors to back your company.Messages:To put the communication strategy into action, the framework should include information about how to reach the important groups and the messages that will appeal to them. To communicate with customers, for example, use your research on the publications they read and plan a series of press releases on new product developments, quality initiatives or improvements in different aspects of customer service. Key messages would include we are an innovative company, we take quality seriously and we are committed to excellence in customer service.

Percentage of Respondents who ranked the following functions #120.0 % - Manager of companys reputation ]15.1% - Source of public information about the company 14.1% - Manager of relationships (Co. & Key non-customer constituencies)

13.8% - Advocate or engineer of public opinion

12.4% - Manager of the companys image

11.9% - Driver of company publicity

11.4 % - Manager of relationships -- co. & ALL key constituencies

2.7% - Support for marketing & sales

8.1% -Other.Importance of Business Communication Channel

Information is the lifeblood of an organization. To effectively convey information, communication is necessary. Communication is conveyed in several forms, including verbal and written methods. It is important that the method used to convey the information is understandable by its intended recipient. Otherwise the communication is wasted and a business could suffer Communication ChannelsInternal communication channels include face-to-face meetings, internal emails, newsletters and memos, communications between managers and employees, and communications between peers.External Communication Channels

External communication is any communication between a business and the outside world. Public relations statements, press releases, marketing materials, commercials, and articles and books written by or about the business are all examples of external communication.Effective communication across both channels is necessary for a business to thrive. Internal communication keeps a business viable. Without communication between all levels of the business, directives cannot be completed, slowing the growth of the business. External communication is the lifeblood of a business. Without clear communication of a company's products to customers, a business will not grow.Communication BreakdownEffective communication in both channels must be clear and convey the correct message. A lack of communication internally, such as misunderstood directives between management and associate-level employees, can lead to a breakdown of business processes. A cloudy external message can lead to decreased sales and a negative effect upon a business' bottom line.Body LanguageCommunicators must be careful that what they are saying is not contradicted by the method of delivery. A face-to-face meeting between a manager and employee can be completely derailed if the deliverer of the message's body language states the opposite of what is intended. For example, a manager who listens to his employee's concerns with his arms folded and shoulders raised is indicating he is not open to what is being presented to him, even if he truly is concerned. His body language is undermining his actual message.Clouding the MessageExternal communication should be as clear and concise as possible and not clouded with ambiguity or vagueness. When authoring sales materials, keep in mind that potential customers do not want to be sold to or told how great your product is; they want to be moved to buy and will determine the greatness of the product themselves. Your message should portray how the product or service can make life easier for them. For public relations and press announcements, this concept also applies: ensure the message conveyed explains how your company's product can help the audience.Cultural ConsiderationsCultural differences also must be taken into consideration. What means nothing to one culture speaks volumes in another. For example, in some Asian cultures, it is considered disrespectful to look a supervisor in the eye. However ,in the American culture, not looking directly at someone while speaking to them conveys either insecurity or untruthfulness. It is important to know your audience and to adapt your message to fit it

Corporate Communications is about Reputation Management

Reputation and integrity are the only real assets owned by companies; when one is lost, everything else follows, as discovered with the public relations disaster that emerged from the manner in which communicators handled the former President, Nelson Mandelas illness... It is for this reason that every organization must develop a plan to prepare for the day its corporate integrity or that of its stakeholders is threatened.Market value is heavily determined by corporate reputation. According to Robert Eccles, a US-based reputation management expert, 70 80% of a companys assets are not on the balance sheet intangibles are increasingly important.A good company reputation affects current performance: Better employees More loyal customers Better terms and service by vendors Higher-margin products and servicesReputation affects expected future performance. It encourages clients to believe that the current performance will continue to improve a good reputation leads to lower perceived risk (lower cost of capital and higher stock price)

10 Principles to guide 21st-century communications

1. Character is the differentiator for organizations and leaders as individuals. The world is scrutinizing organizations more than before. Companies must sync their culture internally with the brand reputation they project outwardly.2. There is no one leadership style.The role of the communicator is to help leaders demonstrate who they really are. Grossman suggested helping leaders define themselves by getting them to articulate key messages and stories that help bring humanity to their personal style.3. There is a greater need to imagine and advance a vision.Provide leaders with tools such as a one-page elevator speech, frequently asked questions and key terms so they are prepared to explain the vision in a way that helps people think about it, feel strongly about it and, most importantly, act on it.4. People really are our greatest asset.Organizations dont do anything; the people in them do, Grossman said. If employees see the value proposition, they will play a positive role in brand advocacy and sales. If they have a bad attitude, well, you get the picture.5. Everyone is a leader.Employees who are given autonomy and responsibility are more engaged and can play a real role in company success.6. Greater focus on self.People cant lead well if they dont know themselves. Organizations owe it to themselves to help all employees raise their competence level.7. Change is only constant.People need to be more comfortable with ambiguity. Its the communicators job to persuade leaders to be more proactive with communications about change, even though all information is not known.8. Employees fundamental needs wont change.Every employee has the same key questions, and if communications answers them, employees will move through change more quickly. These questions move from a me focus to a we focus. The questions: Whats my job? How am I doing? Does anyone care about me? Whats going on? Whats biz strategy? How are we doing? What are the vision and values? How can I help?9. More and better listening, individually and systematically.We need better and more data. For example, collect data about perceptions of the CEO and other top leaders, and track them over time.10 .A communications system that is better honed to manage overload and inefficiency.Organizations typically add more vehicles but are reluctant to take things away. We owe it to our employees to re-evaluate vehicles and combine where it makes sense.

Barriers to Communication

1:Process Barriers: Communication is the process which consists of many elements like sender, encoder, medium, decoder, and receiver. When these elements face any problems or hinder the communication process than lead to communication barriers termed as process barriers. The commonly faced barriers in this area are sender barrier, encoding barrier, medium barrier, decoding barrier, receiver barrier, and feedback barrier. 2:Physical Barriers:Physical barriers are mostly created because of the distractions in the physical scenario of the communication like distance, telephone call, instant visitors, etc. some common physical barriers are environment, cell phones, noise, distance, and physical disability. 3:Personal Barriers:These barriers involve the components of individuals communication competence and interpersonal dynamics between people who are involved in communication process. There are many personal barriers but some most important are language, religion, ethnicity, authority, ability, and emotion. Language present difficulty in effective communication because of the understanding and comprehension relative to the language of another region that is not known e.g. French person is if going to communicate with a British the language will affect the communication between these two nationals. Religion also is a barrier to understand the concept of person from other religion. Diverse regions consist of different beliefs and attitudes therefore can create barriers at workplace to interpret information the way they feel. Differences in cultures and ethnicity also pose pressures to communicate effectively. Authority level can also sometimes pose pressures because sometimes superiors at workplace do not want to communicate with low level staff and vice versa. Ability to understand and communicate can also differ with respect to individual personality that will give rise to communication barrier. Emotions are also personal barriers because of individual moods and mind to communicate. E.g. bad mood can spoil the communication with an effective partner or peer. 4: Semantic Barriers:Semantic barriers occur when there is divergence about the words being employed in communication. These barriers commonly exist based on individuals being from different cultures which hinders between parties concerned in communication to determine a common comprehension of the words and concepts used. Mostly the language gives rise to the occurrence of this barrier. Other sources of semantic barriers transpire when the use of terminology that is mostly specific to a certain field like science or astronomy. It also occurs by using informal vocabulary or statements which can be specific to a specified region or place. E.g. manger of IT department cannot deliver the problem in process to other mangers if he solely relies on the terminologies of his department or field.

Data Analysis

Based on the prior trend the expected number of events in future are approximately 105, out of which the probability to provide services ( partial and complete both) is 56% the figure comes around to be 60 events per annum. The projections regarding the profile of customers are as follows: The majority of customers will belong to same classes professionals and business class. The service class will still remain ignorant to it. Looking at the trend of emerging professional educational institutes, the event management companies are very optimistic.60% of the respondents said that the major problem in the progress of the industry is lack of awareness and 40% said that getting sponsors for the event is the biggest problem.The profile of events that takes place is still not the utility based like product launch and corporate meetings its still mainly entertainment based only, it occupies 65% of the share of total events.Still event management companies have left one of the major aspect of post event communication which includes the media coverage and the client satisfaction surveys. That is the reason the companies are not able to perform better. This also hinders the brand building exercise of these companies.Looking at the local preferences, the companies are not paying due attention to facilities like catering.The majority of the customers are attending events like marriages, live shows and trade fares only. Events like product launch and utility events form a very small segment.The most preferred price range is Rs. 250-500 and the mean value is Rs. 422 as per our findings. A very less number of people prefer hiring event management companies, the number is as low as 11%, but one can see that the partial outsourcing is preferred by 58% people.The samples biggest constituent are professionals(43%) and the business class(28%) people even then the biggest reason for the hindrance of event management companies progress is over priced services (28%).39% of the sample size gives more importance to overall arrangement rather than other individual facilities, but still people go for partial services (58%) it reveals that the complete services are expensive for the localites. 87% of the sample size feels that the event management industry will flourish in the near future. Therefore we can say that though the public is ready to accept the concept, but due to reasons like higher expenses, poor availability and reliability of existing players, the picture is not very rosy.But as the awareness level of public will increase the growth of industry is bound to happen. Partial outsourcing is popular as well as acceptable, to a greater extent, therefore it can be hoped that event management companies as a full fledged service provider will emerge.

Event Marketing companies were also targeted and their response was also taken which added value to my thesis.Lets have a look at what people feel about Event Marketing.When people were asked what they feel about a particular company which promotes its product/service through Event Marketing 82% of the respondents replied that it gives a positive impression about the company and establishes the quality of their product/service.When people were asked about the reasons for which they have participated 53% replied that the event appeared amusing which was followed by reasons like a powerful brand or eye catching signs & banners.

Key problems in Corporate CommunicationEffective communication is an important part of a successful business. Improper communication can dampen a company's opportunities for managing employees and increasing market share.Communicator The first problem with corporate communication is the communicator. If he does not understand his audience or presents a confusing message, the communication is lost on the listeners.Communication Method Two types of communication methods are used in business: push and pull. The push method relies on management to push messages down the communication channels, while the pull method requires employees to use a communication channel to retrieve corporate messages.Communication Channels Several communication channels exist in the corporate workplace. Email, telephone, memos and bulletin boards are communication channels. Using the incorrect communication channel will delay the message and lessen the response time of employees.External Noise Corporate communication must be delivered through communication noise, which is anything that can change the intent of the original message. Communicators must avoid preconceived notions or confusing environments when sending messages.Audience Size An important part of communication is understanding the audience receiving the communication. Using technical terms or an informal tone can create distracting messages for the audience, delaying the expected results of the communication

Recommendations

Companies need to focus on some particular kind of events that they will organize, this will help them gain proficiency in their field, ultimately leading to cost saving. People should be made aware about the concept through proper media coverage telling them about the successful events and the benefits. People should be made aware about the fact that hiring an event management company would help them save time, efforts and cost. Rather then looking at the press people as their competitor they must join hand with them to share the cost and benefits also. Press people can get better exposure and provide the companies advertisements on a lesser cost. Due to innovative marketing tools the traditional marketing tools are redundant so Delhis business class must also know that its time to switch over to the new tools like trade fares and road shows rather then press advertising. The charges for complete services should be reduced. As an example for catering services the general market price is around Rs.75 per plate, but generally companies are charging around Rs.140 per plate. Similarly the other services charges must also be reduced up to a viable extent.

Bibliography

All this information has been collected from itsOfficial website of companieshttp://www.siemens.comOther sites such as Search engine of Googlewww.manchester.ac.uksmartblogs.comwww.academia.eduwork.chron.comMagazines and Journals Reports in newspaper etc

Annexure

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