Executive Compensation: At What Price Reputation?

February 3rd, 2012

By Mary Beth West, APR

It’s not without a bit of odd coincidence that our company’s scheduled blog posts for the month of February are set to take on the theme “Demonstrating Value: Transparency and Accountability in Client Services”. . . when one of the biggest executive compensation flaps in recent Knoxville history is unfolding right now. 

At almost this very time two years ago (January 2010), I wrote a blog post, “The Reputational Fallout of Compensation Run Amok,” prompted at the time by a Barron’s article on the topic of out-of-control executive compensation on Wall Street and Washington’s reaction to it.

Whether an organization is public or private-sector, for-profit or non-profit, executive compensation disclosures can take a real toll on relationships with stakeholders, if compensation levels as well as policies aren’t within some reasonable range of public expectations, particularly given the scale of the organization and the context of its work performance.

Of course, you can’t please everyone on this topic.  Some folks misguidedly think anyone working in the non-profit sector shouldn’t make more than $50K a year.  Non-profits that seek to operate with the performance-driven approach of highly competitive companies generally have to pay quite well to attract commensurate talent in keeping with expectations.

As with practically everything else that can impact public attitudes and opinions, balance is the name of the game. 

Board decisions should be made with an underlying expectation that all information is subject to public disclosure and scrutiny and should let that knowledge serve as some form of guidance on executive compensation parameters.

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New Beginnings for Maryville’s Own Vienna Coffee Company

January 27th, 2012

by Tyra E. Haag, @tyratuckerhaag

This first month of 2012, our blog has focused on new beginnings for the year, so I would like to turn some attention to a local company that has made an excellent start in our community.

For those of you not familiar with Maryville-based Vienna Coffee Company (VCC) (not an MBWC client), I suggest you head on over to their inviting coffee house at 321 High Street and cozy up to a delicious “cup of Joe.”

The coffee house offers free internet access, fresh baked goods, assorted retail goodies, open mic nights and hosts several local musicians and artists throughout the year.

On Jan. 4, VCC announced a new kiosk in the lobby of the Blount County branch of Pellissippi State Community College. The new kiosk will be open 8 a.m. – 2 p.m. each day. This is welcome news, I’m sure, to students and faculty who need an extra jolt of java in the morning to get their day going.

Their baristas are highly knowledgeable and can accommodate just about any request you can imagine. In fact, one chilly morning last fall, I found myself debating whether or not to order a chai tea latte or espresso. I explained my dilemma to the barista who suggested I order a “Dirty Chai” – a chai tea latte with a shot of espresso. I’d never heard of this bizarre concoction and thought her recommendation was quite unusual, but trusted her judgment anyway. Needless to say, my “Dirty Chai” was delicious and satisfied both of my cravings for tea and espresso.

Of course, this encounter offered me the opportunity to utilize one of the best PR-related strategies out there – word-of-mouth – to spread my joy over this tasty new discovery at a neighborhood coffeehouse, just down the road from my office. I look forward to hearing even more good news spread about this locally-owned company in our community.

So here’s to a New Year of new beginnings for Vienna Coffee Company. To learn more about VCC or to sign up for their monthly newsletter, visit http://www.viennacoffeeco.com/.

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What Does the Future Hold for PR in 2012?

January 25th, 2012

By Amy Schwinge, MAOM

Wouldn’t it be nice if we had a crystal ball that could predict the future? Crystal ball or not—you can’t talk about the future of public relations without including social media.

PR really has changed a great deal just during my 17-plus years in the field. I remember working as an intern preparing news releases for distribution via only snail mail and fax (gasp!).

Now, you cannot conduct a successful PR campaign without some aspect of social media unless you want to miss a huge opportunity.

Like anything else, I think the key to remaining viable and successful is continuous improvement and reinventing yourself when necessary.

Nick Sherwin, one of my former management professors, always said, “Adapt to change or die.” Of course he was referring to a company or organization and not speaking literally, but his tagline always stood out to me and is relevant to the social media invasion of recent years.

I think any profession, including PR, must strive to continuously improve or something else better will come along and pass you by.

Author and CEO of Advanced Human Technologies Ross Dawson describes his take on the future of the PR industry (http://rossdawsonblog.com/weblog/archives/2011/09/revisiting-the-future-of-pr.html).

Dawson said, “Those that re-conceive their role and potential impact could well be masters of the universe…The continually emerging opportunities in a world of ever-unfolding public communication are still there to be seized. Let’s see if the PR industry – or others – best take them.”

My vote is for PR, but of course I am biased!

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Thank You, Kodak

January 19th, 2012

By Joe Bogardus

Well, it’s been a sad day.

After hoping against hope that the inevitable would not materialize, it did today when one of my former companies, Eastman Kodak, filed for Chapter 11 bankruptcy protection. As other retirees, I am wondering about the fate of my benefits, but using the planning skills I learned at the company, I think I am prepared for this day.

Plan development was just one of the learning experiences I had at “The Yellow Box.”

Much of my brand management background came from working with colleagues who had spent time at P&G, SC Johnson, Lever and Gillette. I was fortunate to work for a future and now former Kodak CEO – Dan Carp. Another of my senior managers – Bob Keegan – went on to to be the successful president, CEO and chairman of Goodyear. Two of my other bosses became CMOs – one at Coca Cola and another at Levi Strauss. I also got the chance to work with some of the most talented advertising agencies in the industry – J. Walter Thompson, Young & Rubicam and Ogilvy.

Unbelievably, they paid me to go to the office every day to get a business and marketing education that I use all the time here at Mary Beth West Consulting to help our clients improve their business performance.

I literally saw the world, thanks to Kodak. My company work assignments took me to Japan, Europe and Latin America. I used to boast that “I had worked on four continents for the fourth most-recognized brand in the world.” The fourth most-recognized brand boast is kind of an empty one now, but the experience of living and working aboard changed my perspective on how to effectively manage and interact with people. It also enhanced my appreciation for our country and the benefits of being an American.

The six years my wife, two sons and I lived in London while I was director of marketing communications for Kodak’s Europe, Africa and Middle East Region has left a lifelong impression on all of us. Like all multi-national companies, Kodak paid for the educations of dependent children. Both of my sons received educations at that American School in London that ensured their entry into top-tier colleges and universities. Their London legacy has followed them into their career fields, helping them secure jobs and assignments based on their personal international experiences.

I recognize I have been very fortunate in many ways, and not all ex-Kodakers have fared well in transitioning to “life after Kodak.” But many have parlayed the opportunities the company afforded to forge new businesses and totally different careers.

In this day and age, no company can promise you employment forever, but it should provide you the chance to improve your skill set and your employability.

Kodak did that for me. Thank you, Kodak.

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This MLK Day, Local Volunteers March the Extra Mile

January 16th, 2012

By Mary Beth West, APR

In the community where my company is based – Blount County, Tenn. – we have what arguably may be the most extensive range of events and commemorations of Rev. Dr. Martin Luther King, Jr. Day for a community our size in the state of Tennessee.

The Blount County Martin Luther King Jr. Celebration celebrates its 30th year this month.  The multi-day range of community events has been impressive:

  • A community forum on the topic “Are the principles of non-violence by Dr. King relevant in the 21st century,” hosted at a local church this past Thursday
  • An MLK Business Luncheon, which packed the local Hilton with hundreds this past Friday
  • A free movie night at the Clayton Center for the Arts to view the blockbuster movie, “The Help”
  • A performance by the African-American Spiritual Ensemble at the Clayton Center on Saturday
  • A community worship service on Sunday
  • The MLK Celebration Event taking place today, starting with a walk from the MLK Center in Alcoa, Tenn., to the Clayton Center for a 2 p.m. program featuring Rev. Gloria Wright from Atlanta

In reviewing the printed program that I received at last Friday’s MLK Business Luncheon, it struck me reading the biography of Dr. King this closing paragraph, “Dr. King was killed by an assassin’s bullet in Memphis, TN on April 4, 1968.  He was 39 years old.”

I’m 39 years old.  It’s humbling to think of the vast accomplishments Dr. King made at a global level in a lifespan that equals my own now. 

While my contributions to the world will never approach his, it is an inspiration to use our lives – and our life’s work – to help make the communities in which we operate (be they local, national or global in scope) places of justice, equality, tolerance and caring.  In the public relations profession, I’m blessed to work in a field that is full of opportunities to contribute toward this end both directly and indirectly, through our work in communications, outreach, and awareness- and relationship-building programs.

I’m certainly inspired by all the local leaders and volunteers in my own community with the examples they’ve set in making the remembrance of Dr. King’s life and his message so meaningful.

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A New Beginning Well Done

January 13th, 2012

By Joe Bogardus

Last week we helped a new firm launch its brand – Red Chair Architects.

It was a new beginning well done. Not just because we managed the launch with three other great companies: Bryant Research, Blue Media Boutique and Nashville’s Locomotion Creative, but because we worked with a set of clients committed to doing it right.

Despite an extremely tight timeline, David Cockrill and Margaret Backhurst of Cockrill Design & Planning and Don Shell and Bill Vinson of Community Tectonics agreed to meaningful research, with results that yielded the insight of like-minded companies, providing great design and relishing the opportunity to create close relationships with every one of their clients.

With a brand essence of “Great design, in genuine partnership with every client,” Locomotion Creative generated dozens of possible names for the new company. In a November meeting, it was agreed Red Chair Architects would be the name of the new company — with the red chair symbolizing the company’s focus on the person for whom the firm designs and plans, bringing smart, unique ideas that enrich the experience for each.

It was a new beginning – a beginning created from a solid foundation of competitive analysis, research and intuitive judgment combined with the brilliance of a name that captured the spirit of what the principals truly wanted their brand to represent.

“Well done!” to them. And “Well done!” to all of our team that launched what the Knoxville New Sentinel’s Roger Harris  described as “a new contender for the coolest business name in town.”

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Today, Architecture Has a New Red Chair (and We’re Their Agency)

January 3rd, 2012

By Mary Beth West, APR

Over the past few months, our team – including Bryant Research, Locomotion Creative and Blue Media Boutique – has worked alongside a great pair of clients that, as of today, have become one.

Community Tectonics and Cockrill Design & Planning – two well-known and respected architectural firms based in Knoxville, Tenn. – announced their merger today.

The new company, Red Chair Architects, is launching what arguably will be one of the most distinctive brands in Tennessee within the building and design sector.

The company’s principals – David Cockrill (CEO), Don Shell (Chairman), Bill Vinson (President) and Margaret Backhurst (Director of Design) – decided that in forming this new company, they wanted to make a bold statement about their client-centric focus . . . “utilizing the best design thinking, experience and partnerships to embrace each client’s needs.”

We are proud to work with a client that has focused closely on making its merger successful through the strategic management of its communications, relationships and reputation — from internal to external — not only for the financial success of the company but also for the futures of its team members.

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2012: Here’s to a Year (and a Life) Well-Lived

January 2nd, 2012

By Mary Beth West, APR

With great delight this past New Year’s weekend, I opened my Wall Street Journal (yes, the one made of actual paper) to find Scott Adams’ essay, “A Year Without Fear.” 

First of all, I marvel at anyone who not only can draw (Dilbert) but also can write.  My husband’s cousin, cartoonist Marshall Ramsey, is another rare example; but I digress.

Adams describes in hilarious detail his efforts to overcome a natural penchant for taking the safe route, spurred in early life by an encounter on his bike with a woodchuck (you just gotta read it).      

What I loved about this piece, apart from the fits of laughter it prompted, was its metaphor for what I strongly believe life is largely about: consciously rejecting the easy route when it means achieving a life lived. 

We continue to face times of great uncertainty, change and instability.  In the thick of it, it’s so important to chart your own course, even when – and perhaps particularly when – doing so means facing down some pretty big fears. 

So here’s a virtual toast to 2012 and to you . . . make this year count.

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Appreciating What We Have and What We Can Do

December 23rd, 2011

by Joe Bogardus

Most of the 1990s my family and I spent in London. This time of year in the city – home to Dickens’ “A Christmas Carol” – is special. Harrods is sumptuously decorated, many of the grilles of the black London cabs are adorned with holiday wreaths and the Christmas crowds overrun Oxford and Regents Streets. It is an intoxicatingly festive time.

Most every Christmas Eve, our family would attend the traditional Christmas Concert at Royal Albert Hall. We never realized there were so many verses to the Christmas songs we knew back in America. And, the English sang every one of these verses. It was always a somewhat long, but glorious evening.

On Christmas day, we opened our central London home to numerous American families who had stayed in the country, because they could not afford to travel to the United States or (like us) did not want to endure the travails of holiday travel.  Two, sometimes three, dozen people were crowded into our row house on Sussex Square.

I remember now, and recall thinking at the time, how appreciative I was of what we had as a family and what we could do for others who were far from home.

When we returned stateside, as a family, we continued to open our home to friends and just acquaintances at holiday times (and on other occasions as well.)

Earlier this month my colleagues Amy and Tyra have talked about the times they have helped people and causes during this holiday season.

Fortunately, this is something all of us can do and take the opportunity when it is offered.

As the effects of the economic debacle of 2008 linger, so many people need our help large and small this holiday season. As Tyra references in Gary Chapman’s The Five Love Languages, one of those languages is “acts of service.”

So this holiday season, appreciate what you have and appreciate what you can do for others. It is a language of love that works two ways.

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December May be the Best Time of Year to Work in PR

December 20th, 2011

By Mary Beth West, APR; @marybethwest

As a communications student at the University of Tennessee in the early 1990s, the public relations sequence was housed in the School of Journalism, where many of my classmates were journalism / news-editorial majors.  

Whenever the class might be asked by a professor or a visiting lecturer, “Why did you choose your major?” a common response heard from many of us – both on the news-ed side as well as the public relations side – was “I want to make a difference in the world” (or something like that). 

For many of my news-ed friends, the idea seemed to stem from the idea that reporting what happens in the world provides a window through which the public could see, learn, experience and choose whether and how to engage – all for the hopeful betterment of society. 

Serving as the lens for that process gave these students a very unique and critical role that they aspired to undertake – one that I have tremendous respect for to this day.

For many of us in public relations, the idea of making a difference took on another hands-on role . . . that through the process of helping companies and organizations manage their communications effectively, we could also influence – even help drive – other more direct behavioral and decision-driven outcomes.   

Public service represents one of those areas.

Some of the most all-around rewarding public relations efforts I’ve been a part of have focused on implementing a community service endeavor by an employer or client.  Yes – telling the story of that effort was key, but the actual process of making it happen and serving others in an altruistic way carried its own benefits and rewards to everyone concerned. 

Few other management functions as public relations take on a more direct role to help companies support public service in high-quality ways. 

During the holiday season, we can see many examples of these initiatives in full swing, both locally and nationwide. 

Many of them are conceived and orchestrated by public relations professionals, who invest heavily in the process of creative thought, third-party relationship-building and managing the intricate details of these projects – including telling the story to a wider audience to enhance positive outcomes, like public involvement and contributions. 

Like every month of the year, December is a great time to work in public relations – but perhaps more so as the spirit of the business reflects the spirit of the season.

 

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