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The communication role in organizations has changed, just as the nature of organizations has changed in response to the explosion of new communication technologies as well as global networks within organizations. Communication is more complex, strategic, and vital to the health of the organization than it used to be, and it will become increasingly important in the information-driven economy. This book builds upon the authors’ 2010 book, Corporate Communication: Strategic Adaptation for Global Practice, which focused on the role of the communicator. This volume examines, analyzes, and illustrates the practice of corporate communication as a critical business asset in a time of global change. It looks at the major communication needs in the lifecycle of organizations: M&A (mergers and acquisitions), structural change, culture change, innovation, new leadership, downsizing, global expansion, competition, ethical decision-making, political action, and employee engagement. These are all significant value-creating, and potentially value-destroying, events in which corporate communication, if used correctly, functions as a critical and strategic business asset.

Corporate Communication: Transformation of Strategy and Practice takes advantage of the responses of Chief Communication Officers to the CCI Corporate Communication Practices and Trends Studies from 1999 to 2019 to explore the impact of these developmental phases:

• The Internet and Corporate Websites;
• Social Media in and out of Corporate Communication;
• and Business Digitization.

The aim of this exploration is to focus our understanding of the foundation on which the profession of corporate communication was established, and to provide the context to analyze corporate communication practices from the initial uses of the Internet by corporations to the contemporary fragmented media environment.

The chief communication officer at a Fortune 500 multinational corporation today faces the challenges of a rapidly changing global economy, a revolution in communications channels fueled by the Internet, and a substantially transformed understanding of what a 21st-century corporation stands for. This book provides an accessible framework for describing these forces and the specific communication challenges that they have thrown at the global corporation.
The text reviews the evolution of society’s response to the development of the modern company and the corporate communication practices that grew up in response to it, as well as examining the impact of globalization, Web 2.0 and the networked enterprise on current corporate relationships with key stakeholders such as customers, employees, shareholders, communities and regulators. In examining these forces and how they are interwoven, the authors offer insights and strategies for deploying effective communication as a strategic business asset in today’s global economy. Designed for the advanced student of corporate communication, the book contains updated guidelines for the management of investor relations, community relations and other corporate relationships in the age of social media. Specific recommendations for how to organize and execute effective communication for the contemporary practitioner working in the communication field are also provided.