Higgins makes clear that corporate strategy, regardless of how
elegantly conceived, how comprehensive its scope or how
forward-looking its thrust, does not provide competitive advantage
until it is communicated, understood, valued, and acted upon by a
variety of key corporate stakeholders. His book is thus developed
to advance the theory and practice of corporate strategy
communications. With two chapters devoted to conceptual foundations
and empirical research, plus five new case studies illustrating his
points, Higgins's book not only builds on existing research in
strategic planning and management and reputation management, but
offers new research findings as well. Interdisciplinary,
integrative, and international in scope, the book will be of
special interest to corporate management, strategic planners,
corporate communications and investor relations executives, and
other professionals in the investment community, and to academics
with similar research and teaching interests.
Higgins argues that companies that communicate effectively to
key constituencies risk less by making their strategies known than
by hiding them. Among the important payoffs Higgins identifies are
an improved climate within the investment community; better
relationships with suppliers, customers, and strategic partners;
improved employee morale and motivation; and, in some cases, a
boost to share price and the enhancement of shareholder value. He
begins with an overall strategic framework, illustrating how
effective corporate strategy communications can improve a firM's
strategic credibility, then follows with case studies--unavailable
until now--each written specifically for this book, and covering
such situations as a merger, a failed takeover attempt, and a
management campaign to elevate share price and shareholder value at
a major chemical company. He ends with an examination of the
international challenges and opportunities involved in
cross-cultural strategy communications. The book also presents for
the first time, the results of a major international study of
corporate strategy communications. Included in this study were 1800
executives and analysts from the U.S., Europe, and Japan. The job
of strategy communications is never done, concludes Higgins.
Communications during bad times, as well as good, are critically
important.
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