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Essay / Research Paper Abstract
This 10 page paper considers the communication approaches that may be adopted by firms when they need to deal with communicating bad news and difficult circumstances. The paper looks at firms that may need to communicate in a bailout, bankruptcy and reorganization looking at who the firm needs to communicate with and how the communication will take place. The bibliography cites 11 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEcombail.rtf
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Unformatted sample text from the term paper:
by the existing overcapacity within the industry. In addition to this increasing levels of competition from companies operating in low cost areas benefiting from a comparative advantage have also posed
a threat. The companies facing difficulties that are suffering there are three potential strategies as are likely to be considered; bailout, bankruptcy or wage cuts /reorganization. Each of these options
has advantages and disadvantages, and whichever option is chosen the organization will have to communicate with the relevant stakeholders in order to inform of the choices we should be made
and protect the company in terms of reputation and sales. A major part of the communication strategy will be the way that
sales can be maintained, when BMW were selling Rover the communication which was taking place with the relevant stakeholders, including potential customers, resulted in a significant dip in sales. If
a consumer fears that the company is failing it is likely to reflect negatively on the perception of value and desirability of the product or service that they are manufacturing
and selling (Kotler and Keller, 2008). Therefore, organizations will need to develop a communication strategy which may vary depending upon which option is chosen. Each may be considered individually.
Over the years a number of companies have had to pursue a strategy allowing themselves to be bailed out, often with government funds. This
has been seen across a number of industries, including banks, airlines and utilities. Bailout can be a controversial move, especially if the general public perceive the organization (or its management)
as being undeserving; where there have been documented inefficiencies, mismanagement or aware senior management are seen as behaving irresponsibly or unethically, such as taking large sundries while seeing their organizations
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