Communications Paper

Four Principles of Values-Based Capitalism1. The Principle of Stakeholder Cooperation
○
Value is created because stakeholders can jointly satisfy their needs and desires.
2. The Principle of Complexity
○
People are complex and capable of acting on multidimensional values.
3. The Principle of Continuous Creation
○
People continuously create new sources of value by cooperating with others.
4. The Principle of Emergent Competition
○
In a relatively free and democratic society, people can create alternatives for
stakeholders.
CSR Theaters
1. Theater 1 – Philathropy
● Donations of time, money, product, or other resources.
2. Theater 2 – Operational improvements
● Changing how business is done in ways that have a positive impact.
3. Theater 3 – Business model transformation
● Fundamentally reworking the purpose of the organization.
Across All Theaters
● Focus on programs that align with the company’s strategy and purpose.
○ Your initiative should make sense within the context of the company.
● Select appropriate metrics to gauge performance.
○ What does success or failure for your initiative look like?
● Coordinate across programs to increase impact.
○ How might initiatives relate to one another and synergize?
Value-chain risks
● Physical – Damage to infrastructure and other assets.
○ Caused by increase of extreme weather events & gradual climate shifts.
● Prices – Increased price volatility of raw mats & commodities.
○ Caused by direct climate impact, regulation, & competition from
renewable energy demands.
● Product – Core products becoming unpopular or unsellable.
○
New technology, propelled by regulation & production costs, can quickly take over.
External-stakeholder risks
● Ratings – Higher cost of capital due to carbon pricing, supply disruption, etc.
● Regulation – Government action prompted by climate change.
○ Includes use of subsidies to sustainable business, carbon taxing, etc.
● Reputation – Damage to stakeholder relationships.
○
Can be direct (from company-specific actions) or indirect (perception of the industry).
○
May result in regulatory action, protests, consumer boycotts, and other actions.
Adaptation vs. Mitigation
● Mitigation – Reducing contributions to the change.
○
Example: Reducing greenhouse gas emissions via adopting efficient technology.
○ Returns are typically shared with non-investors (commons dilemma).
● Adaptation – Making an organization more resilient in the face of change.
○ Making meaningful changes in supply chain & business model to reduce
impact of change.
○ This approach primarily benefits those who in invest in it.
Apologizing at Community Hospital
Research on apologizing for medical mistakes
● Apologizing for medical mistakes does not lead to an increase in lawsuits.
● A study tracked 989 adverse events in a hospital network where the hospital
proactively apologized and, when appropriate, offered compensation.
○ Result: Only 5% of these cases went to litigation.
○ When offered, average compensation was cheaper than settling in court.
○ Overall, this approach was assessed to have saved the hospital money.
● People appreciate honest communication and tend to respond appreciatively.
● This approach improves patient outcomes & is well-received by doctors.
○ Citations: Mello et al., 2017; Robbennolt, 2008; Ho & Liu, 2011
How to Apologize
1. Admit that you were wrong and that you’re sorry.
● Don’t offer a “non-apology.”
● People are far less likely to act against you if you offer a sincere apology.
2. Show them you understand the effect it had on them.
● Make the apology about THEM, not about you.
● Don’t say “I didn’t mean to…”, “I had a good reason…”, “I was trying to…”
3. Tell them what you’re going to do differently so it doesn’t happen again.
● Follow up by carefully “walking your talk.”
● Demonstrate the change soon, and make sure it’s not superficial.
Apologies Based on Audience
● Strangers & Mere Acquaintances
○
They want an offer of compensation (aka restoring balance via a redeeming act).
○
Might be tangible (offer to pay for damage), or emotional (“I’m sorry I acted like a jerk”).
● Partners, Colleagues, and Friends
○
They want an expression of empathy.
○
Usually involves expressing concern over the suffering caused.
○
Empathy lets the victim feel understood, and demonstrates that you value the relationship.
● Your Team
○
They want acknowledgment that you violated the rules or norms.
○
Admit that you recognize the rule you broke and understand the scope of damages.
Non-Verbal Communication
Nonverbal Communication
● Kinesics
○
Symbols made by the body
● Eye contact
○
In the U.S., strong eye contact is often expected.
○
Focus on your audience more than your slides.
● Appearance
○
Maintaining a professional appearaence will make your message better-received.
● Facial expression
○
Does your expression fit your message? Do you look interested in what you’re saying?
● Gesticulation
○
Gestures, signs, and other movements.
Nonverbal Communication
● Paralanguage
○
It’s not just what you say, it’s how you say it.
● Inflection
○
What does your tone tell your audience about your message?
○
How would you be evaluated by someone who doesn’t understand your words?
● Tempo
○
How fast are you speaking? Can your audience keep up?
○
We tend to speak too fast when presenting, so slow it down.
● In writing: Highlights, bold, italics, ALL CAPS.
○
Avoid overuse of these. They can be distracting
Nonverbal Communication
● Haptics
○
Physically touching the person you’re speaking with.
● Shaking hands
○
Appropriate when meeting someone or concluding a meeting.
■
○
Don’t be offended if someone refrains. Not everyone is comfortable with handshakes.
Don’t overthink your handshake. Reasonably firm is good, but it doesn’t matter much.
● Otherwise, usually refrain from touching.
○
If the situation might call for it and you feel inclined to give a hug, ask first.
○
Unwanted touching makes others feel deeply uncomfortable and can land you in trouble.
Nonverbal Communication
● Proxemics
● Space between speaker and audience:
● Room layout.
○ How big is the room? How are chairs arranged? Is equality or hierarchy being
signalled?
Nonverbal Communication
● Chronemics
○ The use of time.
● Timeliness
○ Whether you are on-time, late, or early sends a message.
● Pacing
○ Do you build rapport with your audience first, or draw attention with a
jarring opening point?
When to use email vs. meeting face-to-face
● Face-to-face meeting
○ When real-time feedback is needed; questions need answered.
○ Negotiation.
○ When you need to see their reactions / When it’s highly important.
● Email
○ Reminder / A specific check-in.
○ When you have a large audience.
○ When the advantages of face-to-face meetings aren’t needed.
Video-conferencing (Skype, Zoom, etc.)
● Make yourself look professional.
○ This includes managing the space around you.
● Position your camera to give your audience a good angle.
○ Be in a well-lit room. Angle your camera slightly down.
● Test your technology. Ensure audio and video work well.
● Wear headphones to prevent echoing.
Instant messaging, texting, and document comments
● Keep communication professional, specific, and clear.
○ IMs and texts are not held to a lower stand. Always be professional.
● Be mindful of others’ schedules.
○ Don’t expect replies on evenings & weekends unless it’s a strong norm.
● Pay attention to what others in your organization do.
○ Example: Is texting commonly used, or only appropriate given urgency?
Crisis Communication
What Employees Want in Crisis Communication
● Frequent communication
○ Don’t sit on information for long.
● Safe channels for giving feedback
○ Make yourself available for feedback and sharing of concerns.
● Assistance with work adjustments
○ Crises often mean changes to work. Help the change go smoothly.
What Employees Want in Crisis Communication
● Address concerns
○ …even if it means admitting that you don’t know yet.
● Prepare a plan for the future
○ Employees want stability and predictability following a crisis.
○ As much as possible, let them know what they can expect.
Basic Principles of Crisis Communication
● Transparency
○ If you withhold critical information, it’s bound to leak.
○ Share what you can, when you can.
● Compassion
○ What are employees feeling? How can you help?
● Offer hope, but only when justified.
○ Don’t make promises you can’t keep.
“Resolve your organization’s crises promptly.
They won’t improve with age.” – Warren Buffett