CORPORATE COMMUNICATION SIGNIFICANCES

BY PROTAS LEVINA BAPRM 42657
In this Fifth Golden Rule, we are looking at setting up channels of communication and how these channels - and the reporting system as a whole (i.e. including internal, operations monitoring) - should be used to
ensure all stakeholders are happy with the proposed strategy
monitor progress from point A to point B in the strategy
ensure that stakeholders are receiving all the information they require
Logically, therefore, we need systems which have the following characteristics:
they serve all the significant stakeholder groups, that is:
customers
owners
employees
suppliers and other trading partners
local communities
in total they communicate the intention to run the company under systems of good corporate governance, and in particular they have very specific objectives in relation to each target group. Following the methodology, then, They will thus include the four elements of:
Ethics: projecting the ethos which permeates the company, and thus communicating to all stakeholders an image of the ethical company which the board is striving to create and operate
Goal : reporting on the progress made by the company towards the agreed corporate goals, and in particular fulfilling the specific interests of the particular stakeholders addressed in the actual communications received by them
Organisation: show that the company is organised effectively to achieve the goals that have been communicated to all the stakeholders, and to look after their individual interests
Reporting : demonstrate through the high quality of the communications that the accountability and transparency rule of good corporate governance is both understood and being adhered to
in their execution, high standards are in place to ensure that the communications are easy to understand and do indeed provide the information required by the recipients, in line with their expectations referred to above the systems provide regular communications to all stakeholder groups, and whilst there is an appropriate weighting between the needs of the various groups, no group is neglected, for instance through allowing address lists to become out of date.