Key Trends & Issues
Due to the global economic turmoil, the rise in complexity of doing business was a dominant trend influencing, in many different ways, the operations and behaviour of our clients, our own industry and our business operations as well.
At H&P we monitor, listen and gather the various standpoints of our stakeholders and use them as an invaluable source of information for strategic business intelligence, risk and opportunity management and innovation. We routinely assess issues of importance and their potential impact on our sustainability. We perceive risks as opportunities for growth and the rendering of comprehensive, value-added services to our clients. The status quo in our industry is unsustainable, but we aim to ensure sustainable success to our Company and our clients.
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Trends
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Issues
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Impact on H&P
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Rising complexity
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- More complex decision making due to an increasing number of economic, social and environmental sustainability issues
- Organizations find it increasingly hard to cope with complexity
- Clients expectations to receive packages of integrated products and services
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- Source of innovation and opportunity for providing consulting services that would help our clients to more successfully manage their stakeholders relations and issues at stake
- Source of risk because complexity also created additional pressures on us to be faster and more flexible in changing and adopting our structures and decision-making
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Economic turmoil (and beyond)
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- Companies re-evaluate their business plans and cut costs for services
- PR budgets redefined and declining; overall, PR markets decline by 20-30%
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- Source of risk because portfolio of clients has changed as well as budgets
- Source of opportunity because we changed our internal structures and adjusted strategies to remain competitive
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Knowledge driven economy and society
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- Organizations need new solutions, systems and processes, knowledge and skills
- Organizations need to establish a new form of multi-stakeholder partnerships and collaboration networks
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- Source of opportunity to continually fine-tune and upgrade our competencies and share our knowledge across multiple stakeholder groups
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Expansion of social networks
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- Active communities that require new approaches
- Instantaneous availability of information
- Blurring boundaries between organizations
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- Source of opportunity to transparently report on our sustainability practices, share our views and knowledge and engage in conversations
- Source of opportunity to consult our clients in terms of structures, knowledge and skills needed
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Increasingly volatile credibility of PR Industry
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- Practices of some public relations (PR) agencies damage reputation of all communication professionals (corruption scandals, tendering practices, media relations practices)
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- Source of risk because these practices damaged the reputation of the entire industry and led to questioning of PR as a term and overall concept
- Source of opportunity to gain competitive edge and set a new standard for corporate relations
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Rating: 9.7/10 (3 votes cast)
This articulated and appropriately segmented strategy that encompasses the entire business and economy environment, key issues and the impact to an organisation – deserves all the appreciation.
Congratulations!