Corporate communication is the exchange of information with all stakeholders related to the corporation. Stakeholders might be internal or external. Internal stakeholders of a company are the employees and stock holders of the company. External stakeholders are clients, suppliers and government. Communication to internal or external stakeholders should be relevant. The communication for the internal stakeholders might be about the good progress the company is making or an honest confession during a scandal. For external stakeholders the communication is like an advertisement or statistics about the company.
Communication to internal stakeholders will be usually morale boosters in the form of newsletters or mail from management of the company. During my internship in EMC, I got newsletters showing the progress of the company, the recent customer wins and how EMC was staying ahead of competition. The newsletter also contained the steps taken by EMC to ensure employee satisfaction. I also got mails from the management in the company about the quarterly earnings of the company and the price of EMC stock. These mails also thanked us for our hard work. Usually these kinds of communications keep up the morale of the company and make the employees feel that they are contributing to the success of the company.
Communications to external stakeholders is very dependent on the stakeholder. For example the communication to the shareholders of the company will contain information about the general health of the company, company’s strategy and vision to stay ahead of the competition. It might also mention the initiatives the company is taking to increase its market presence. Companies might take up initiatives to improve the society and this is a way of corporate communication to show that the company is socially responsible. One of the most important communications to the external stakeholders will be in during times of crisis. Crisis may be a legal tangle the company has gotten itself into or bad publicity generated in the media due to some findings in the company. Effective corporate communication might make the difference of the company staying afloat during the crisis.
http://www.intranetjournal.com/articles/200510/ij_10_26_05a.html
The above article explains the relevant communication is important to internal stake holders
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Communication inside the company is crucial. When your employees can easily talk to each-other (and to you, most importantly), freely express their thoughts and exchange the ideas, your company is sure to experience growth over time.
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Corporate Communication is considered as the upper stage of public relations. Careers in corporate communication revolve around strategic communication done within a corporate organization where main focus is on investor relations, government relations and media relations. Corporate Communication works in close co ordination with the Human Resource department of the company.
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