The Rise Of Corporate Affairs Management

Corporate affairs management, as a practice, has witnessed significant growth in the technological paradigm shift.  There is a rise in reputation economy with the increase in internet space; this wider space is for the exchange of information; including positive and negative reviews of everything and anything you could think of.

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.

Before the advent of social media and smartphones, the role of corporate officers relied mostly on traditional media to maintain the goodwill of the company. However, in a world where information can be shared instantly, the role of corporate affairs management becomes more demanding and must be handled strategically.

Role of a corporate affairs officer:

• Strategy development:

A corporate affairs officer needs to be aware of every aspect of the market; both within their company and externally. The board should be mindful 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. This proactive approach can soften the impact of the potential bad news.

 

• Content:

To maintain the goodwill of the firm, reputation management company will prepare full-fledged plans to counter-attack the negative reviews and create a positive outlook on the social media platforms. However, these plans should be taken reviewed by the corporate affairs officer before implementation. The officer will consult with senior management to make sure their message is consistent with its goals. Social Media is instant and global. Hence it gives the corporate affairs department an opportunity to provide direct updates on company news and events.

 

• 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.

 

• Team leader:

The corporate affairs manager leads the team, he/she directs and monitors the activities of the department.  It is the responsibility of the officer to ensure that the message on public forums is accurate and consistent with company vision and goals. He/She also might have to oversee the mentoring and development of new team members. Also, the corporate affairs manager serves as the channel of communication between senior management and her team.