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Corporate Communication

Transformation of Strategy and Practice

Michael B. Goodman and Peter B. Hirsch

The forces of uncertainty, globalization, the networked enterprise, Web 2.0, privacy, "big data," and shifting demographics have dramatically transformed corporate communication strategy and practice. Now more than ever, it is more complex, strategic, and essential to the organization’s survival. Corporate Communication: Transformation of Strategy and Practice examines, analyzes, and illustrates the practice of corporate communication as it changes in response to increasing global changes. It builds on the authors’ 2010 Corporate Communication: Strategic Adaptation for Global Practice, as well as their 2015 Corporate Communication: Critical Business Asset for Strategic Global Change.

This book analyzes and illuminates the major communication needs in rapidly evolving organizations: the contemporary communication environment; the importance and impact of intangibles—corporate sustainability, identity, culture, valuation, crisis prevention; the transformation of the media environment; the transformation of the concept of decision-making; the importance of demographics and multigenerational audiences; and technical, geopolitical, economic, and socio-cultural uncertainty. These are significant forces that can potentially augment or diminish an organization’s value.

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CHAPTER 5 Transformation of the Concept of Decision-making

Extract

CHAPTER 5

Transformation of the Concept of Decision-making

Chapter Outline

5.0Transformation of the Concept of Decision-making

The transformation of the concept of corporate communication decision-making is the result of the impact of these six contemporary influences:

5.1Big Data, the Internet of Things, and Alternative Data change the Ethical Decision-making Process

5.2The Opportunities Opened, and the Limitations Imposed, on Strategy and Practice by Big Data and Artificial Intelligence (AI)

5.3Behavioral Science Offers New Research Tools and Techniques that Influence the Methods and Means for Corporate Communication

5.4Determining Whether Decisions are Rational or Emotional

5.5How Daniel Kahneman’s Theories in his Book Thinking Fast and Slow Change How We Think about Decision-making

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