Decoding The Role Of Corporate Affairs Management

Today, we are witnessing the rise of a reputation economy in which social media and review sites have provided a more extensive space for the exchange of information; including positive and negative reviews of everything and anything you could think of. These have given rise to the business of reputation management in India.

In today’s world of quick news and citizen journalism, reputation can make or break the company's balance sheet. Safeguarding goodwill is a critical concern of the Board, and hence corporate advisory boards are set up. As global communications become increasingly complex and de-centralised, the team needs to create strategic, creative and focus on the internal communication matters.

Within the framework of corporate affairs management, professionals must specialise in:

• Corporate brand
• Corporate responsibility
• Employee engagement
• Government/ Public Affairs
• Media Relations
• Public Policy
• Regulatory development
• Thought leadership

What is the role of corporate affairs management?

The corporate affairs manager works closely with public affairs, government relations, and internal stakeholders. He holds a distinct position as the administrator with influence across all lines of corporate communication.

His duties include:

• Advise the Executives:

The corporate affairs manager serves as an adviser to the CEO or the president of the company, especially during transitional periods. He has a complete view of the business from all sides or a “360-degree perspective” of the company affairs. The corporate advisory board is best suited to direct senior management on the useful strategic moves to guarantee the company’s success.

• Crisis communication barriers:

For reputation management in India, corporations may continue to rely on the ORM companies to maintain external communication with the media and investors. However, the corporate affairs manager is a chief adviser to the crisis communication team. The corporate affairs manager is aware of various departments within the company and how they overlap and intertwine within the company. Hence, as he is closely related to the affairs of the company, he needs to strategize a perfect crisis communication plan with the ORM team.

• Monitor and Direct Change:

The corporate advisory board is also involved with the working of research and development or from the marketing side of the business. The board should be aware of the company values and advise on the matters of company growth. Spotting trends and directing the movements within the company to take advantage of those trends is an essential role of the job and often best accomplished by a professional associated for years with the company.

• Provide Financial Input:

The corporate affairs manager is a link between the public forums and the senior executives of the company. He is aware of the company’s pricing policies and how they affect sales. The critical function in corporate affairs management is to combine all knowledge and research to put in the best strategies for the company’s financial growth.