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Corporate Communication

Critical Business Asset for Strategic Global Change

Michael Goodman and Peter B. Hirsch

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.
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Chapter Eight: Political Opportunities and Risks Within and Across Borders

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← 144 | 145 → CHAPTER EIGHT

Political Opportunities and Risks Within and Across Borders

This chapter investigates the challenges that an environment with fewer restrictions and more globally complex supply chains presents to corporate business strategies. This environment for services, intangibles, and intellectual property presents political opportunities for corporations as well as risks. The chapter will analyze the opportunities and risks that are offered in six functional areas: (1) sustainability—the triple bottom line—social, financial, environmental performance; (2) the supply chain; (3) advertising and marketing; (4) accounting; (5) responsible investing, and (6) ethical business practices.

In the first decade of the 21st century, a more truly global marketplace was created than had existed at any time since the decade preceding the First World War. Notwithstanding some reversals of this trend created by the global recession that began in 2008, the global marketplace created through the emergence of countries such as Brazil, Russia, India, and China has transformed the nature of global relations for multinational companies. There have been two principal drivers for this transformation.

The first is the removal of regulatory barriers controlling foreign ownership of business assets in countries such as India and a parallel reduction in subsidies or protections for home-grown “industry champions.”

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