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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