The Wall Street Journal just waved a red flag at you and your firm. Read on.
"Knowledge management is one of the workplaces most vexing
problems...few organizations can figure out how to share knowledge
among employees, or to pass it on when employees leave or change..."
Alright, you're the CEO. You have a financial question. So, you turn to the CFO. A legal question? Well, no question, time for legal counsel or your ethics and compliance officer. An employee-related issue? That would be a call to HR. But, today, you have a media-, community- or stakeholder-relations issue or need help with marketing communications. No need for help here. You're the CEO. This is the "soft" side of the house. The category "Other" on the balance sheet. With your background, you can handle it yourself. No need to bother your boss with it. Better yet, just assign the issue to the "PR" or "Marketing" department.
Wrong.
Everyone needs a "Kitchen Cabinet," especially when you are at the top. The real question is, "Is your public or media relations staff in your inner circle and, if not, why not?" This is not a post about "succession planning." This is about real-world "Knowledge" and the credibility, reputation, relevancy and profitability of your firm.
I was once assigned by a top corporate officer to be the executive director for a new CEO of our most highly visible, profitable subsidiary. I believe the words were, "Don't let him out of your sight." The president was technically sound; I knew external affairs, from public affairs to media relations. I was the "knowledge" that balanced operational decisions with stakeholder expectations. This was a half-billion-dollar operation with huge environmental, energy, defense and health and safety considerations. Not only that, we were part of a Fortune-100 firm with a stock price. In restrospect, it was a superb move. I was a combination of Chief of Staff/Press Secretary/Marketing without the titles. By aligning my skill set and experience with operations, it freed the CEO to do what he did best vs. trying to make the CEO into something he was not. The move formalized the value of my knowledge and accelerated our firm's success.
So, how many CEOs used to be head of public affairs, public relations or marketing communications? The answer is, "Very few." The truth is you probably have some training and street experience, but not decades of experience in "the court of public opinion" and you are not a subject matter expert in these fields. You don't have to be.
Bottom line: If your inner circle --
formal or informal -- does not include expertise in media and public
relations, then address the situation.
If that expertise is buried under a
vice president, tucked away in the organization for budget reasons
(budget pressures) or just plain too inexperienced, then at least
contract with someone who can fill the empty chair at your table of
trust, if only on a "virtual" or contract basis.
Have them work with you -- and partner
with your public relations department. It's an ultra fast way of
injecting decades of experience into your organization, in a
cost-effective manner, while mentoring the next generation.
You are
buying both the knowledge and the transfer of knowledge. The buck
stops with you and the knowledge is available. Your company's issues,
good and bad, can become this hour's news in an instant. Are you ready
to be the news...or to make the news? Who are you even talking with that would know?
Great leaders are like great coaches: You articulate the vision, execute the plan, manage the resources, communicate your successes...but you don't have to play all positions.
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