Articles

5 Most Important Characteristics of Corporate Affairs Programmes

by Purvi Dalvi Writer

Corporate affairs programme forms the crux to direct the resources available with the firm to a common goal. It is made to balance the interest of stakeholders of the company which includes an array of customers, shareholders and suppliers.

The board of directors are the chief decision makers of such strategies; additionally, they are the most important decision makers in the firm who take accountability for their decisions.

An effective corporate reputation management can accelerate the reliability for the brand and give the product line a consolidated pool of consumers. An excellent reputation of the brand with the combination of support from the organisation will have positive impact in the market.

Following are the list of five most important characteristics of corporate affairs plan:

Discipline

Discipline is the most important factor which determines the success of any organisation. It requires you to have a universally accepted code of conduct and awareness of social and environmental issues. The Corporate reputation management team should implement a standard code of ethics. It is the responsibility of the top brass to communicate the code to their employees.

Transparency
It is must for an independent body to evaluate economic and non-financial operations of the management of the company. The audit will bring clear picture of the operations, and it results in building the positive image of the brand in the market and portray the correct as well as impactful picture of the company in the front of the investors and potential customers. Media need to have a positive impression of your brand to sustain in the market.

Accountability for decision makers

It is crucial to have rational decision makers who can evaluate each scenario before taking a decision related to the company. They should be held responsible for the decisions and actions. It requires to you to have in-place internal committee incorporated by corporate reputation management, who can make sure they have people who can take accountability for crucial decisions in the company and raise valid queries against their decision.

Social Responsibility

A firm is most likely to sustain for a longer period which can create significant goodwill in the market by contributing towards social responsibility. While formulating the corporate affairs programmes, it is imperative for the management to have a non-discriminatory stand in society. They need to advocate civil rights and maintain specific ethical standards. If possible, try to bring in some legal help on board in case the company faces strong criticisms from the customers.

Independent board

The decision-making authorities and the board of directors needs to be free of any bias and should not decide any influence of the lobby. They need to have a mechanism which can keep track of conflict of interest that may exist within the system. There should be a common way of decision making that can avoid the existence of dominant forces within the decision makers. If possible, they should rope in the opinions of the employees as they could offer new insights


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About Purvi Dalvi Advanced   Writer

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Joined APSense since, May 24th, 2017, From Mumbai, India.

Created on Jul 17th 2019 04:12. Viewed 367 times.

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