The link between Communication and Finance

I am an Organizational Communication and Management of Financial Institutions major student. It is a big question for everyone on how is the two course related. But here is a list on how they are related:

1. Every organization needs a communication specialist - so obviously financial institutions like banks, insurance companies needs a communication specialist within the organization.
2. Banks need training videos, manuals, etc... - Orgcom people can do this for them. I have seen a thesis where they made a training video for RCBC.
3. Image is very essential to banks, and they need to have good PR to help them maintain this image.
4. Trust is the foundation of every bank, one wrong move will ruin them - they will need a crisis manager to maintain the trust of the clients in them
5. Orgcom People also have money - they do need bankers, portfolio managers, etc... to help them manage their funds

One good example this illustrate this is the current financial turmoil right now. An example of an organization who badly needs some orgcom practitioner is AIG (American International Group).

They are US's biggest insurer, and own a lot of different insurance companies in the world like Philam Life for the Philippines. They are currently facing a big crisis because of the down economy, due to this, they needed the help of the US government to bail them out from bankruptcy. They have been lent by the US gov't 65 Billion $. This is the big issue. However after the said bailout, news reported that they have spend 300,000$ to celebrate which draw a lot more criticisms. This is not yet over.

The organization is facing a big big crisis. They now need a communication plan to fix this big issue their facing. Trust is the main asset of an insurance company. There are a lot of issues: How will they be able to save their face amidst everything? How will they stop policy holders from withrawing? How will they entice investors to lend them? How will they implement the changes within? These are just a few questions they are facing, and I believe a person with both an Orgcom background and a MFI will help them come up with the best possible solution.

Why orgcom practitioners are important?

Before I went to college, I don't really know what Orgcom is. I don't even know there is such a thing as an Orgcom practitioner. Orgcom for me is just another course I have to take to compliment my course in Finance. But now I learn to appreciate Orgcom. I can easily say, that everywhere you go, any organization needs an Orgcom Practitioner.

Communication is vital in every organization, as a practitioner, its your task to maintain the smooth flow of messages within. Giving the right messages to the correct people internally, building an image and idea about the company externally. You are tasked to handle different issues and how to address them to your publics. As a practitioner you are equipt to handle all these, we are given theories to help us handle issues, but we are also immerse to the practical side and application of these theories. We know how to handle different media, from writing, verbal skills, photography, websites, videos, etc... that we use in dealing with these.

Orgcom is important because it is very practical. Many people will not recognize it as an Orgcom, but as a practitioner you will easily say that is part of Orgcom. When I'm in my commerce class, I can't help but smile and say.. Oh I learned that in Orgcom. Example, in Busorga classes or Business Strategy and Policy class, they will teach you regarding mision vision statements, organizational structure, information management system, organizational culture, etc... what people fail to recognized is that those are part of an orgcom practitioners job. Those things are important in every organization.

I'll give my brother as an example of an Orgcom practitioner. He is an OrgCom and Business Management graduate of La Salle and he now works for our own company. He was asked to help out there without a definite position. Almost 1 year in the company, he have already built a website for the company, made a mission vision, identity manual, operations manual, etc... His next project will be building a training program for employees. These are mostly OrgCom stuff. These are things that commonly entrepreneurs failed to have and recognize. He said we learn these are important in our management classes, but what we failed to recognize, is the person who does these things for us. That is why an orgcom practioner is important because he will be able to do a lot of these things for you. That is another reason why I'm in orgcom, because my Mother sees the importance of it, the same way as my younger sister will be taking up Orgcom next year.

You can be part of many functions in a business organization, you can be part of HR where you handle giving out messages internally, making training videos, etc.... Under marketing, you can be part of the PR team, building the company's image, selling the product. Part of the Operations, where you will handle the flow of information. But technically, an orgcom practitioner should have its own function and team within the organization. There are a lot of things you can do.

Right now, there is still a few organization who recognizes orgcom practitioners, but hopefully as the world becomes more complex, OrgCom will be a must for every organization.

My First Blogpost

Hi everyone! Thank you for visiting my blog.

I created this blog because of Miss Aileen Apolo. She is our professor in Mancomm and sent us an assignment to do this:

Create Your Blog

Oct 22, 2008 1:22 PM posted by Aileen Apolo Hello class, I want you guys to start blogging. And what I want you to blog about is your thoughts and discoveries about communication strategies being used by practitioners. To start it off you might want to share your thoughts about why orgcomm practitioners are important in organizations? Your post should be between 100 to 200 words.

To create your blog this is what you do:

1. Upgrade your @delasalle.ph account to become a Google Account, register at https://www.google.com/accounts/NewAccount

2. Create a blog on Blogger using your @delasalle.ph account at http://www.blogger.com

Email me your blog URLs by October 29, 2008. I will check your blogs every Wednesday night.



So there, expect me to write a blog every week. I'll try to be informative, yet still entertaining to read.

Enjoy Reading!