1.0 Introduction
1.1 Background to
the Study
It is widely
accepted that the aim of any business organization is to achieve growth,
increase in turn over, assets and profit. But all of this is dependent on the
goodwill of the organization’s various publics.
Goodwill
according to Malogo, (1996) is secured not so much as a result of the
organization’s mere existence but as the sustained strategic planning,
execution and evaluation of the perception of their publics in relation to the
organization.
The research
mill examine the effects of crisis and depressed economy on its corporate
existence, what it is compelled to do when it finds itself in that situation
and how nest to use PR to achieve stated objectives. In the course of this, the
researcher will examine some case studies where effective PR was used to
revitalize some corporate organizations hitherto on the brink of collapse in
and outside the country.
All know what
happens to corporate organizations when it is faced with crisis or when the
economy in which they operate begins to over- heat and, as the nation economic
operators, they begin to show signs of depression; the result is that business
becomes slow, because patronage dwindles. This means low retimes, shrilling
profits and huge overhead, which combine to force corporate organization to re-order
their prentices to survive.
To be able to
survive such climate, corporate organization need to cut their coat according
to their cloth, as the saying goes and not according to their size. This is may
in turn mean pruning their size so as to prime their usually heavy
expenditures. At the end of the day, such corporate organization will have to
seriously consider restructuring, and when you restructure certain fundamental
and, often painful changes have to be made which, if not affected cautiously,
can easily affect the organization corporate image and subsequently its
foretimes. Needless to say when this happens, survival becomes difficult, if
not impossible.
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