...YouTube. What makes this story so compelling is the social media aspect of both the crisis itself and the strategy for managing the crisis. The interesting challenge was Domino’s decision to integrate the same medium that sparked the crisis into the strategies to manage the situation, and the efficacy of best practices and principles of crisis management in the age of social media. Overview and Background The way in which companies communicate with stakeholders during a crisis event is rapidly changing with the 24-hour access provided by the Internet, Facebook, Twitter, and YouTube. Public relations practitioners and other communication executives are struggling to craft messages and maintain control of the flow of messages within this dynamic landscape. As Schiller explains, in “times of crisis, while corporate communication executives are preparing manicured statements, customers are [simultaneously] blogging, e-mailing and posting photos out of rage and desperation because the very people who should be listening to them aren’t” .. Bell asserts that stakeholders become “interpretive communities in organizational crisis contexts,” capable of cultivating an organization’s reputation through information they receive in cyberspace.. Social media allow stakeholders to control when, where, and how “reputational meanings are born and disseminated” as “an organization’s reputation is built on the stories formed by stakeholders and spread within networks” . . Nowhere is this dynamic...
Words: 1978 - Pages: 8
... | |MEDIA MANAGEMENT | | | | Abstract: Media has played a major part in building and managing the country after 1990’s. It has played both a constructive and destructive role in communicating information to its viewers. Organizations have been aware of this might of media for quite some time now. The partnerships between organizations and media channels and the way in which orgs manage media play a huge role in the way it affects their business. Ex. FMCG companies, entertainment companies, e-commerce companies understand that marketing can’t happen and product can’t sell unless media upholds it. Hence the partnership between orgs and media needs to be seen as an art of media management now. Media can both build and destroy the reputation of any entity in this country. Hence it is extremely careful how media is managed and used in the best possible manner in order to derive benefits instead of creating issues. Media targeted by organizations/entities for marketing are basically of three formats. • Print media Marketing – through Newspapers, magazines, books etc. • Audio / Visual Media Marketing – through Television, movies, radio...
Words: 1745 - Pages: 7
...2.1Social media 2.1.1 Defining Social media The brand-new way of interactions that allows networking communication with instant feedback has been brought up via the social media, or online social networking sites (Lariscy, Avery, Sweetser & Howes 2009). We as the users are now capable in sharing content, opinions, experiences, and many more and it have been online practices with the use of technology of social media (Lariscy, et al 2009). A two-way proportioned communication between the partakers is encouraged by the social media sites (Lariscy, et al 2009). Social media enable two-ways communication rather than one-way. The term social media has a wide range of platform and it does not only include social networking sites as it consist of also forums, blogs, picture sharing, video sharing, message boards, RSS, podcasts, search engine marketing, other networking sites and microblogging sites (Wright and Hinson 2009). However people usually think of Facebook and Twitter when it comes to social media but there are many types of social media such as LinkedIn, Blogs, microblogging and online news. (Wright and Hinson 2009) 2.1.2 Social media impacts in PR practices Those who practice public relations have believed to have grown in terms of its precision and trustworthiness by using social media and other developing media (Gordon 2010). Furthermore, they agreed to a certain extend that these new media will turn to be an overseer for traditional news media that will...
Words: 4398 - Pages: 18
...In Vietnam, social media has become one of the most popular communication platforms. It is noteworthy that the social media penetration rate in the country is more than 43 percent, Facebook penetration is at 22 percent, and there are more than 40 million active social media users (Kemp, 2015; 2016). These figures indicate the growing importance of social media for the Vietnamese people. As a result, a crisis that starts on social media is not an unusual occurrence. In the past five years, Vietnam has seen a number of company or brand crises that started on social media. From a single post online, a story could be shared virally, attract attention from customers, mainstream media and even the government to become a full crisis....
Words: 923 - Pages: 4
...1007/s10551-008-9968-9 Ó Springer 2008 Determinants of Corporate Social Responsibility Disclosure Ratings by Spanish Listed Firms Carmelo Reverte ABSTRACT. The aim of this paper is to analyze whether a number of firm and industry characteristics, as well as media exposure, are potential determinants of corporate social responsibility (CSR) disclosure practices by Spanish listed firms. Empirical studies have shown that CSR disclosure activism varies across companies, industries, and time (Gray et al., Accounting, Auditing & Accountability Journal 8(2), 47–77, 1995; Journal of Business Finance & Accounting 28(3/4), 327–356, 2001; Hackston and Milne, Accounting, Auditing & Accountability Journal 9(1), 77–108, 1996; Cormier and Magnan, Journal of International Financial Management and Accounting 1(2), 171–195, 2003; Cormier et al., European Accounting Review 14(1), 3–39, 2005), which is usually justified by reference to several theoretical constructs, such as the legitimacy, stakeholder, and agency theories. Our findings evidence that firms with higher CSR ratings present a statistically significant larger size and a higher media exposure, and belong to more environmentally sensitive industries, as compared to firms with lower CSR ratings. However, neither profitability nor leverage seem to explain differences in CSR disclosure practices between Spanish listed firms. The most influential variable for explaining firms’ variation in CSR ratings is media exposure, followed by size and industry. Therefore...
Words: 9772 - Pages: 40
...2015: enter social media. It is rare today to engage in any type of commerce without seeing the use of social media. No matter how big or small a business, “Follow us on Facebook” is everywhere. The larger social media forums such as Facebook, Instagram and Twitter, even track your internet use based on search engines and provide advertisements specific to your most recent searches. It is inevitable to try to engage even in everyday life without seeing the importance and the power that social media has to reach a diverse group of people. With the growing use of social media it would be impossible to assume that this would not affect business: daily commerce now has different ways of advertising and able to hit different markets all together. As with anything, social media has the power to affect businesses in both a positive and negative manner, however the positive trends seem to be outweighing the negatives. Social media provides companies with a new highly effective form of communication. Both internal and external communication takes on new life, through quick and effective communication. It has never been easier to simply press as button and have confirmation that a message has been sent. In the past, letters, telephone calls and face to face interaction, took on the primary form of communication, but today even email is revived, when you can receive confirmation of when your message has been received and/or read. “For entrepreneurs, social media is already becoming...
Words: 1243 - Pages: 5
...our Company Ugo Investment Private Limited wants to market the product by naming the product and produce the product in a low quality from China. Introduction As working product manager in Ugo investment in Male’ Republic of Maldives the company management has decided to produce nestle coffee product named Old Town coffee which is produced by nestle Brother Investment which has the authorized license in importing the product to Maldives. The Ugo investment company management has decided to produce Old Town coffee product from the company in a way by concentrating more cheap substance into the product as a result the cost of the production would be low and the selling rate would be lower than comparing with nestle Brother investment to bring the competition with the company. The Ugo investment management team is a group of family business owned by the elder son of the company. The company tries to establish the competition to this investment by pouring the market a low quality product which has a huge impact to the many stakeholders. This report contents the impacts for the stakeholders concerns and the ethical problems as a product manager will be facing in the long run. By going further lets us see what do we mean by stakeholders? The world is so compact that today each actions of any business will cause a huge impact to the end users of that product. The product may be a consumed by one person in a certain community but the impact may bring the whole community or...
Words: 4874 - Pages: 20
...Importance of Reputation Management For this assignment write a 2 page paper in APA format (plus cover sheet and reference page) that discusses the importance of reputation management in relation to an organization’s credibility. If a PR person only has their credibility to offer and is only as good as his or her deserved reputation, how can social media help or harm that reputation? What is Reputation and why is It Important? • Corporate Reputation is estimated to be worth about 4 to 5 percent of sales per year. • Reputation is the most valuable asset entrusted to a CEO by the board and shareholders. • Reputation Management is a holistic business activity, combining elements of strategy, management, marketing, customer service, communications, and human resources. • Reputation Risk is the No. 1 risk concern of CEOs globally (Aon Insurance study, 2007). • Reputation management is not the same as advertising, corporate social responsibility, or corporate identity. Reputation is a perception of value or distinctiveness vies-a-vies peers and competitors — that is held in the mind of stakeholders and prospective stakeholders. Reputation Management, then, is a systematic approach to management where decision-making is informed by the perceptions of value vies-a-vies peers and competitors that are held by an organization’s stakeholders. • Reputation builds competitive advantage. Studies have found that organizations with better reputations...
Words: 428 - Pages: 2
...Communication Techniques Introduction Organizational leaders are continually searching for new and easier methods of communicating with their stakeholders. Any evaluation of communication techniques should include information about where we have been on the technological time line, where we are now, and the future of communication techniques. There was a time, not so long ago, that land line telephones were the norm and pagers were the ‘techy’ devices that all business people must have. Pagers sent an alarm to the device as an alert that someone was trying to call. Imagine the frustration of being in your car and suddenly having an emergency ‘page’. There were no cell phones during the time of the pager, so the only option was to seek out a pay phone. That scenario sounds archaic today. Shortly afterwards, we had an amazing revolution in technology with the cellular telephone. Business people could finally communicate with peers and customers, no matter where they were located. Naturally, the internet and the abundance of information that it provides, is among the greatest advances of our lifetimes. But, technology is still evolving and the future promises to hold many more time saving marvels as technology evolves all around us. We must be prepared and ready to adapt to the changes that are coming our way. Business and management practices also evolve to keep up with the technological advances. The Importance of Managerial Ethics in Business Communications Managerial...
Words: 3484 - Pages: 14
...Chapter 8 – Systems oriented theories 1. Introduction Rationale: Why corporate management might elect to voluntarily provide particular information to parties outside the organisation. (Page 250 & 251) Gray, Owen and Adams (1996): Legitimacy Theory and Stakeholder Theory are two theorietical perspectives that have been adopted by a number of researchers in recent years. The theories are sometimes referred to as “systems-oriented theories”. Within a systems-based perspective, the entity is assumed to be influenced by, and in turn to have influence upon, the society in which it operates. Within both legitmacy theory and Stakeholder theory, accounting disclosure polices are considered to constitute a strategy to influence the organisation’s relationships with the other parties with which it interacts. 2. Political Economy Theory According to Gray, Owen and Adams (1996), Legitmacy Theory and Stakeholder Theory are both derived from a broader theory which has been called “Political Economy Theory”. “Political Economy” as defined by Gary and Owen as the “social, political and economic framework within which human life takes places”. The perspective embraced is that society, politics and economies are inseparable, and economic issues cannot meaningly be investigated in the absence of considerations about the political, social and institutional framework in which the economic activity takes place. Gurthrie and Parket (1990) states that corporate reports cannot...
Words: 1927 - Pages: 8
...Chapter 8 – Systems oriented theories 1. Introduction Rationale: Why corporate management might elect to voluntarily provide particular information to parties outside the organisation. (Page 250 & 251) Gray, Owen and Adams (1996): Legitimacy Theory and Stakeholder Theory are two theorietical perspectives that have been adopted by a number of researchers in recent years. The theories are sometimes referred to as “systems-oriented theories”. Within a systems-based perspective, the entity is assumed to be influenced by, and in turn to have influence upon, the society in which it operates. Within both legitmacy theory and Stakeholder theory, accounting disclosure polices are considered to constitute a strategy to influence the organisation’s relationships with the other parties with which it interacts. 2. Political Economy Theory According to Gray, Owen and Adams (1996), Legitmacy Theory and Stakeholder Theory are both derived from a broader theory which has been called “Political Economy Theory”. “Political Economy” as defined by Gary and Owen as the “social, political and economic framework within which human life takes places”. The perspective embraced is that society, politics and economies are inseparable, and economic issues cannot meaningly be investigated in the absence of considerations about the political, social and institutional framework in which the economic activity takes place. Gurthrie and Parket (1990) states that corporate reports cannot...
Words: 1927 - Pages: 8
...2014 Discussion – Lesson 5: Crises Management & Ethics Quotes: “It's not enough to have lived. We should be determined to live for something. May I suggest that it be creating joy for others, sharing what we have for the betterment of person-kind, bringing hope to the lost and love to the lonely.” ― Leo Buscaglia Leo Buscaglia was an author, motivational speaker, and a professor (University of Southern California). “Only in the darkness can you see the stars.” ― Dr. Martin Luther King Jr. “ General Discussion: Videos: * Amme on stage - best crisis management principles (10 min) Future Assignments: * Blog #4 – Technological proliferation (mobile technology & internet capability) has re-engineered the social landscape in terms of accessing information, meeting people from all over the world, and transitioning business standards. One would think that these tools can help people to become more socially adept. However, technological advances are also causing people become distracted, overly stressed, and increasingly isolated. Many people are involved in an abundant number of relationships through technology. The quantity of these associations leaves people feeling qualitatively empty. Share your thoughts and explain action plan to provoke better social interaction and relations. Deadline: Open * Read chap. 6 (Kouzes & Posner). Opening Class Discussion: * Social incompetence (discuss article featured...
Words: 2241 - Pages: 9
...30 Lessons from 30 Years of Crisis Management By Jonathan Bernstein 1. Not planning for crises is the same thing as planning to have a crisis. 2. One hostile and/or ego-‐driven person with a computer and some Internet savvy can do a huge amount of damage to any organization. 3. Damaging information present on the Internet spreads virally, being reprinted by other websites and/or even news organizations regardless of accuracy. Ignoring it will only make matters worse. 4. All legal threats -‐ e.g., threatened lawsuits, regulatory investigations -‐ are potential threats to reputation and should be brought to the attention of whoever is responsible for reputation management/PR as soon as they're identified. Typically, however, legal counsel and even senior company management delay notifying their PR advisor, internal or external, until the stuff hits the fan or will do so imminently. Rushed...
Words: 1163 - Pages: 5
...Answer: F Page: 4 4. The stakeholder theory of the firm argues that a firm’s sole purpose is to create value for its shareholders. Answer: F Page: 6 5. The instrumental argument for the stakeholder theory of the firm says that companies perform better if they consider the rights and concerns of multiple groups in society. Answer: T Page: 6 6. The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply a more realistic description of how companies really work. Answer: F Page: 7 7. Nonmarket stakeholders are those that engage in economic transactions with the company as it carries out its primary purpose of providing society with goods and services. Answer: F Page: 8 8. Market stakeholders include nongovernmental organizations and the media. Answer: F Page: 8 9. Government can be considered both a market and nonmarket stakeholder. Answer: T Page: 10 10. The interests of different stakeholders often coincide. Answer: T Page: 14 11. Stakeholders involved with one part of a company often may have little or no involvement with another part of the company. Answer: T Page: 15 12. Some scholars have suggested that managers pay the most attention to stakeholders possessing the least salience. Answer: F Page: 16 13. Urgency refers to the extent to which a stakeholder’s actions are seen as proper or appropriate by the broader society. Answer: F Page: 16 14. A stakeholder map is a useful tool, because...
Words: 1778 - Pages: 8
...True False The stakeholder theory of the firm argues that a firm's sole purpose is to create value for its shareholders. True False The instrumental argument for the stakeholder theory of the firm says that companies perform better if they consider the rights and concerns of multiple groups in society. True False The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply a more realistic description of how companies really work. True False Nonmarket stakeholders are those that engage in economic transactions with the company as it carries out its primary purpose of providing society with goods and services. True False Market stakeholders include nongovernmental organizations and the media. True False Each stakeholder group has only one source of power in relation to a firm. True False 5. 6. 7. 8. 9. 10. The interests of different stakeholders often coincide. True False 11. Stakeholders involved with one part of a company often may have little or no involvement with another part of the company. True False 12. Some scholars have suggested that managers pay the most attention to stakeholders possessing the least salience. True False 13. Urgency refers to the extent to which a stakeholders actions are seen as proper or appropriate by the broader society. True False 14. A stakeholder map is a useful tool, because it enables managers to see quickly how stakeholders feel about an issue and whether salient stakeholder tend to be in...
Words: 1788 - Pages: 8
