PUBLIC RELATION AND IT’S IMPACT IN THE BANKING INDUSTRY

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CHAPTER ONE

1.1  INTRODUCTION

The business world can be extremely competitive, companies typically want to have something that makes them stand out from the crowd, something that make them more appealing and interesting to both members of the public and the media. A favourable image can help increase a company’s sales and negative publicity can damage a company’s reputation and decrease sales. Public relation (PR) can give consumer and the media a better understanding of how a company works. Within a company, a public relation department might also be called a public information department or a customer relations department assist customer if they have any problem with the company. They usually try to show the company at its best. Public relation department also might conduct research to learn how satisfied customers are with the company and its products. There are many tools and methods that a public relations department can use to enhance a company’s image.

The tools that have been traditionally used include news releases and announcement that are sent to the media, news letters that are sent to customers and appearances at public events, such as trade shows or conventions. With the proliferation of the internet, PR department can now use tools such as blogs and social media net works to accomplish their goals. Many people have the perception of public relation (PR) as a way to “sprier” news and information, which means to portray the news or information in the best possible way for the company. If a company announces layos, its public relation department might claim that the company is lowering its costs and making itself more efficient, so it will be better able to serve its customers at lower prices. As long as those things are true, then the public relation department is doing its job of protecting its reputation and image. Stretching the truths are exposed. There include a high level of communication skills, both written and verbal. A public relation person (PR) also must be adapt at multitasking and time management. He or she might have some form of media background or training to understand how the media works. Organizational and planning skills also are important in public relative. A public relation employee must be able to work well under pressure.

PUBLIC RELATION AND IT’S IMPACT IN THE BANKING INDUSTRY