apr cohort: session 7€¦ · apr cohort: session 7 friday, may 1, 2020 12-1 p.m....
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APRCohort:Session7Friday,May1,2020
12-1p.m.join.me/mospra_directorPhone:1.720.650.5050
ConferenceID:910-070-824#KSA:LeadingthePRFunction
MOSPRAAPRCohort:Session7Today’sAgenda:1.Welcome2.Checkinginonprogress3.HighlightsofLeadingthePRFunction(18percentofexam)4.ScenarioQuestions/Practice5.NextSteps
CheckinginWhereareyouatinyourprocess?
Whatdoyouneedfromme?Anythingweneedtoreview?
Ø Setcleardirection.Ø Produceresultsbyinspiringandmotivatingothers.Ø Addressissuesimportanttotheorganizationandareacatalystfor
changeandimprovement.Ø Areabletoadaptthestyleoftheirleadershipwhilemaintainingcore
principlesthatsustaintheorganization.
Key Characteristics of PR Leaders
1. KnowyourSECfilingsforpublicly-tradedcompaniesØ 10-KØ 10-QØ 8-KØ ProxyStatementØ MD&A(ManagementDiscussion&AnalysisofFinancialConditions)
Key Areas of Leading the PR Function Business Literacy
1. KnowyourBusinessLawsandRegulations(SecuritiesActandrelatedSECfilings)– Sarbanes-OxleyAct(SOX)--coverscorporateauditing
accountability,responsibilityandtransparency;lawenactedfollowingEnronscandal
– Disclosurerequirementstaketwoforms:thosethataremandatedbystatuteandthoserequiredtoavoidfraud;meansthatseniorofficials(includingPRofficers)ofacorporationaremandatedtodisclosematerialinformationthatcouldbeconsideredimportantbyareasonableinvestor
Key Areas of Leading the PR Function Business Literacy
Ø Linemanagement(product/profit/marketing–engineers,productionstaff,thosewhodirectlyincreasethebottomline)
Ø Staffmanagement(PR,legalcounsel,HR,finance–thosewhoadvisetheboardandCEO)
Ø Asymmetricalvs.symmetricalorganizations:q Asymmetrical=organizationgetswhatitwantswithoutchanginghowitdoesbusiness
internally;cultureresistschange(similartoclosedsystems,whichdon’tadapttoexternalchanges);authoritarianculture;communicationsarestructured,one-sidedandformalizedwithinadecision-makinghierarchy(i.e.:military);decision-makingiscentralizedathighestlevel;littleinputfrommiddleandlowerlevelemployees;highdivisionoflabor;efficiencyoverinnovation
q Symmetrical=organizationsthatthriveonnegotiation,conflictresolutionandcompromisewithoperatingprocedures;incorporatesgoalsofitspublics;communicationincorporatesfeedbackatalllevels;rewardsinnovation
Key Areas of Leading the PR Function: Organizational Structures
Ø Anticipates,analyzesandinterpretspublicopinion,attitudesandissuesthatpositivelyornegativelyaffecttheorganization
Ø CounselsothersintheC-suiteonramificationsofpolicychanges,coursesofactionandcommunications,aswellassocialresponsibility
Ø Researchesandevaluatesprogramsandcommunicationstoachievetheinformedpublicunderstandingnecessaryforthesuccessoftheorganization(=gettingpublicorstaffbuyin)
Ø Plansandimplementstheorganization’seffortstoinfluenceorchangeinpublicpolicy
Ø Setsmeasurableobjectives,createsplans,setsbudgets,recruitsandtrainsstafforvolunteerstoimplementcampaignsthathelptheorganizationachievetheirgoals
NotetheimportanceofRPIEforeachoftheseleadershipfunctions.
How PR Leadership Affects the Line Management & Bottom Line Consider yourself the moral compass of your organization
Problem Solving: Drill Down Technique
Problem Solving: SWOT Analysis Po
sitiv
eInternal
External
Negative
Problem Solving: SWOT Analysis
Credit:UniversityofWisconsin-Parkside
Ø BudgetsØ FinancialstatementsØ BalancesheetsØ P&Lstatements
Key Areas of Leading the PR Function: Resource Management
Scenario-BasedQuestion:
As the new public relations manager of a large communications firm, you are tasked by a vice president to create a pitch for a line of new business to a potential client in the healthcare industry. As you research the publicly traded company, you become aware of the their past financial issues. To better assess the company's strengths and weaknesses, which of the following documents would give you the best overview of their state of affairs? (pick one)
Scenario-BasedQuestion:Answeroptions
A.10-KB.ProxyStatementC.10-QD.8-KE.SWOTAnalysis
Scenario-BasedQuestion:Answer&RationaleA.10-Q(quarterlyreport)-thiscontainsunauditedfinancials;filed35daysafterthecloseofeachofthefirst3quartersB.ProxyStatement:producedtobenefitshareholderstopreparethemtodiscuss/voteattheirupcomingmeetings;focusesonchangestotheboardofdirectors,executives’salaries,bonusesandoptionplansforkeymanagement
C.10-K(annualreport):The10-KincludestheManagementDiscussionandAnalysisofFinancialCondition(MD&A),whichprovidesessentialinformationforPRpros,andmustbefiledwithin60daysafterthecloseofacompany’sfiscalyear.Theannualreportprovidescomprehensiveoverviewofacompany,includingcrucialinformationsuchashistory,organizationalstructure,equity,holdings,earningspershareandsubsidiaries.Thisgivesyouanoverviewofthefinancialhealthforthepastyear.TheMD&AiswherecompanieslisttheirSWOT(strengths,weaknesses,opportunities,andthreats)facingthecompanyanditsindustry.
D.8-K(currentreport):ThisisforunscheduledmaterialorcorporateeventsthatareimportanttoshareholdersandtheSEC;helpsdeterminesignificantproblemslikelitigationorexecutivewrongdoing;thesealsocontainanyproblemsfacingtheentireindustryorproductcategory.E.SWOTAnalysis:Thisproblem-solvingtoolbutnotanofficialdocument.
Scenario-BasedQuestion:You are a public relations specialist for a publicly-traded, international clothing company tasked with writing the earnings press release to accompany the annual report of the fiscal year that ended last week. As you’re working on your release, your boss brings you a report detailing an issue with one of your major suppliers in Europe. The report says that major structural deficiencies have been found in the supplier’s manufacturing plant. The building was shut down immediately and will have to remain closed for at least six months. What must you do when you receive this information? (pick 2)
Scenario-BasedQuestion:AnsweroptionsA. Let your boss know that you don’t need to mention it in your earnings press release since you are addressing the year that just ended. B. Include a brief analysis of this issue in your earnings press release, providing a framework for how it will be addressed in the MD&A. C. Include this issue as part of a SWOT analysis in your earnings press release. D. Recommend to your boss that your company send out a news release that day specifically addressing the issue with the supplier and the impact the plant closure is expected to have on your company.
Scenario-BasedQuestion:Answer&RationaleB. Include a brief analysis of this issue in your earnings press release, providing a framework for how it will be addressed in the MD&A. D. Recommend to your boss that your company send out a news release that day specifically addressing the issue with the supplier and the impact the plant closure is expected to have on your company. Rationale: • Strategies & Tactics 11th, pp. 319: Timely disclosure is essential. A company must act
promptly (within minutes or a few hours) to dispel or confirm rumors that result in unusual market activity or market variations.
• The Sarbanes-Oxley Act requires responsibility, transparency and disclosure (think Enron) – APR Study Guide p. 71
•
NextUp:Session8KSA:ManagingIssues&CrisisCommunications
(13%percentofexam)Wednesday,May20:12-1p.m
·EPR11thedition:Ch.1(IssueManagement,CrisisManagement)Ch.11,12(PlanningforProgram
Implementation)Ch.13(CrisisCommunication)
·StrategiesandTactics,chapter10·APRStudyGuide:pgs.107-110