This week, I have the pleasure of hosting the McMaster-Syracuse MCM Winter Residency 2014.
Both the first year and the second year cohorts are here. Here’s what they will be taking:
First Year MCM (2nd Term of Program):
- COMM MGMT 722 Managerial Finance
- COMM MGMT 712 Public Relations and Communications Research
Second Year MCM (5th Term of Program):
- COMM MGMT 721 Strategic Management
- COMM MGMT 713 Communications Law for Public Relations Advertising
The focus of the program is “building professional success through research”. We mean that to achieve success as a professional communicator, communications manager or entrepreneur, it is necessary to understanding how to communicate, build relationships and manage community. While this has always been the the case, digital communications have made communications management and public relations even more fundamental: the fact that everyone has to manage their online digital image has reinforced the idea that it is important to manage relationship and reputation in every circumstance. Additionally, the fact that everything posted to digital can be measured and counted means that no one can dismiss the value or importance of communications counsel for organizational success.
A final thought comes from the world of corporate valuation. A recent article posted to reputationdividend.com [pdf] list the companies whose share price in 2012 was most impacted by reputation. Here are the top twelve, with the contribution of reputation to their valuation in parentheses:
- Apple (57.6%)
- Exxon Mobil (56.4%)
- Royal Dutch Shell PLC (56.3%)
- Chevron (56.2%)
- Philip Morris International (55.7%)
- Procter & Gamble (55.4%)
- McDonald’s (55.0%)
- Walt Disney (54.5%)
- IBM (53.9%)
- Intel (53.8%)
- Google (52.4%)
- Caterpillar (52.2%)
These numbers indicate that firms should be investing in communications managers and strategists at the highest level to manage and maintain those relationships that contribute so fundamentally to shareholder value and corporate valuation.
Our MCM program faculty understand what needs to inform the strategic reputation management that goes into building the reputation capital that leads to higher market valuations – we teach those skills, methods, theories and approaches in all of our classes.