Monday, October 6, 2008

PR in the New Economy

In today’s world it’s getting harder to make ends meet. The economy is on everyone’s mind during this time of banking crises, foreclosures, high gas prices and the ever-declining value of the dollar. In this new economy, people are forced to prioritize and focus on the essentials. Corporations have to cut back to stay competitive and some would think that public relations would be one of the first to get the knife. But public relations is not a luxury in a corporation; in fact, there are many reasons why public relations is a necessity in the new economy.

Research: Public relations is vital to a company’s research. PR professionals help the company keep up with the pace of world trends. For instance, if the world becomes more involved with the green movement, the public relations department should report this to the business so they can be more alert to global trends.

Image: The public relations department is also focused on conducting research based upon the company’s image. Seeing how others view the company plays a key role in the mission and direction in which the company goes. Ultimately, it is public opinion that allows a firm to sink or swim, so businesses need every bit of help they can get on developing and maintaining a positive image with their publics.

Strategy: Along with conducting research on global trends and views of the company, public relations develops strategies. A communication plan makes a company think in the long-run. Having one-year, five-year and 10-year plans allows the overall company to project its direction, define its goals and finally achieve them. In today’s economy, having a long-range plan helps business stay on track while making changes in the present.

Crisis Management: This issue has been in the news a lot lately. As businesses have been undergoing transitions and downfalls, management has not known what or how much to say. During the recent banking crisis, some of the banks that ended up closing reported that they were doing fine until after they declared bankruptcy. Crisis management requires public relations because there is one person disseminating information, who knows how much to say, and gives a consistent message of what is actually happening.

Public relations is needed just as much today as it was in the old economy. As we progress into a new economy, we must not forget how necessary public relations is in forming our futures.

1 comment:

BNK24x7 said...

Who needs PR? Or put it differently, “Why do I need PR?” These questions are often raised in corporate circles.

From Presidents to president aspirants, from corporate honchos to cops, from publishers to reporters there is no one that doesn’t need PR. Definitions could be dime a dozen, but put it plainly PR is nothing but relationship building and maintaining it. It is planned. It is deliberate and it has to be sustained.

With apologies to Shakespeare let me say that a friend is a friend is a friend! Can any one be a friend of yours for a limited time? If it is so, that relationship is nothing but an arrangement. Similarly, PR can just not be a business of arrangement or a marriage of convenience.

Some may like to dismiss PR is a functionality of HR which is also a relationship business. The result: neglect PR as one ignores HR.

I worked with many corporate houses including some top notch ones. And my experience is that HR people do not get the importance that they deserve. They are looked down upon as people with bureaucratic tendencies and sticklers to the rule book. I know of an HR lady of a PR agency who ultimately ended up a consultant to a housekeeping firm! Not that I have any disrespect for housekeeping people.

Every one needs them to keep the house spick-and-span.
If you have scant respect for your HR, how can you expect yourself to treat PR as something great?

When you need PR, you need people specialized in it – the business of building maintaining relationships. Not certainly those who start PR firms as a pastime or because they have nothing better to do.

These may sound like random thoughts, but thoughts certainly they are! Aren’t they?

So, next time if any one asks “who needs PR” as him or her: who doesn’t?

For more interesting stuff on Pr:;