ectations of its stakeholders. A company benefits from a favourable reputation by becoming the first choice of customers, investors, suppliers and employees. A corporate reputation creates shareholder value, because it contributes in and of itself to the company’s competitive position. A company benefits from its reputation, because: · It improves cash flows and profitability; · It acts like a barrier that impedes rivalry; · It provides a company an enhanced license to operate; and · It raises a protective shield against downturns and crisis. A company which is specialised in corporate communication is for example: The Corporate Communication Centre. C.C.C. is a joint initiative of the Erasmus University (Rotterdam, The Netherlands) and the business community. The centre tries to co-ordinate all the communication activities within a company and gives advice on communication policies and the organisation of communication methods. C.C.C. also offers training in corporate communication, executive courses and in-company courses. Companies as Shell, Unilever, Compaq Computers and Ernst & Young have a good reputation. They are multinational enterprises. They need a good reputation to be the number one in their field. Especially Shell, because its product (fuel, gasoline) is bad for the environment. But by introducing Shell “Pura”, which is better for the environment, Shell is different from other gas stations. This is an example of corporate communication. Corporate communication is found in all sectors of society. Think of hospitals, travel organisations, commercial services industries, industrial companies, universities, air companies, telecom companies and so on. Every company needs a specific image to be successful in their field. A professional magazine like Focus is a very important magazine. Each year, chief executives of the US’s largest companies anxiously wait for the publication of Focus Magazine’s survey of America’s Most Admired Companies, the leading arbiter of corporate reputations. To be working in the field of corporate communication you will need skills as: · Basic communication skills (presenting, organising, researching); · Strategic issues management (stakeholder theory, strategic issues, strategic management); · Strategic information technology planning (improving the effectiveness/competitiveness); · Strategic external communication (communication campaigns); · Economical psychology (explaining the behaviour of external stakeholders); · Employee communication; · Public affairs: European Political Environment; · Investor relations (trust between a firm and its stakeholders); · Corporate branding: (a distinguishment of a company to its rivals with its customers); and · Argumentation theory Professions in the field of corporate communication are for example: Communications consultant, Marketer. A company hires you to improve their reputation. You can work in a lot of different companies. Think of a hospital, a university or Shell. You can do research for companies, like the C.C.C. You can work as a teacher of corporate communication. MARKETING COMMUNICATION Marketing communication is the act of communicating with the target group concerning a new innovation or a service in a convincing manner. It also determines that all constraints (cultural diversity, media limitations, legal problems, and so forth) are controlled so the right message is communicated to and received by prospective consumers. Marketing communications involves advertising, sales promotion, personal selling, and public relations, the mutually reinforcing elements of the promotional mix. Once a product or service is developed to meet target markets needs and is properly distributed, indented customers must be informed of the product or service value and availability through advertising and promotion the ingredients in the marketing communication. Consumers respond in terms of their culture, lifestyle, feelings, value syste

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