The Brand PR Industry and Innovation Culture - Research Paper Example

Introductions and background

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Business communication practice has been gradually increasing its significance and now plays an increased pivotal role in economic, social and political transformation in globalization (Castells, 2011). Currently, this industry claims a significant market share around the world. A report issued by the University of South California Annenberg Centre for Public Relations in 2016 estimated the value of Global PR industry to be at US$14b and estimated to grow to US$19b within five years (USC Annenberg, 2016). Such growth can also be seen in South Africa which is experiencing a growth in number of companies in this industry, through increased spent by both private and public sector. As result of limited financial information of this industry in South Africa, it can be concluded though that its magnitude cannot be compared to those of nations such as the United Kingdom and the United States given the size of the economy.

The current business environment is highly competitive in general largely owing to the ever-evolving technological advancement, Brand PR industry has not been spared, as a result Brand PR companies are forced to seek alternative ways of remaining competitive (Donovan. T, 2014). The most suitable remedy to such a problem would entail revamping an organisations culture and include innovation as part of the its organisational culture in order to maximize on is potential while using existing personnel to achieve such results. Innovation is the best initiative for an organisation to take when attempting to renew its business practices and discover varying ways to compete. Tucker (2002), states that ultimately innovation tends to be beneficial for the consumers, impresses shareholders and stockholders, and keeps the organisation one step ahead of the competition. Furthermore, culture of innovation within an organisation is also applicable and essential when it is incorporated as part of over strategic intent of the organisation. Moreover, innovation account for an increase in competitiveness and improvement in productivity and efficiency. According to Tucker, (2002) such factors play a vital role in the generation of new job opportunities and also result in higher wages which in return sparks growth of the national economy.

Creating a culture of innovation can be a troublesome test in any organisation (Wisdom et al., 2014). Management can't simply wave their hands and tell everybody they should be innovative from a specific day forward and hope pronounce achievements a while later. Nor is it likely that representatives will persuade their administration to take after Google and give representatives one day every week off from typical work to concentrate all alone imaginative and innovative thoughts (Duarte Alonso and Bressan, 2016). While a quick move to a culture of innovation is improbable, a slower and well thought-out phase- in approach is conceivable. For instance, IBM identified that to stand out from the rest there was the need to reinvent its core software, hardware and services franchise. It went further to invest in the development new organizational strategic imperatives including data, security, cloud and cognitive. In a domain where innovation tended to sit tight for business heading and execute to that bearing, we are presently observing designing pitching the business on new bearings to investigate. The progressions from making persistent adapting some portion of the way of life have not been quick or simple, yet they have been sensational (Kash, 2010).

Change is coming as innovations possess the potential of absolutely disrupting many associations' plans of action inside the following couple of years (PR Newswire, 2011). Extra changes could happen as an organisation modifies their way it does things and the way it connects with its stakeholders (Friedrich von den Eichen et al., 2015; Hardie, M., 2010). Unavoidably, some innovations may have a sudden, boundless effect, while numerous others could be the after-effect of a progression of smaller changes that, together, make a critical change. With quick developing propelled advancements, as of now carefully upsetting plans of action in practically every industry, development has progressively turned into a concentration region of the board (Lacity and Willcocks, 2014).

Technology is constantly advancing. Therefore, companies need to be able to maximize the potentials of new technologies and tools so as to maintain their competitive advantage. As the world experiences expansion at a very rapid rate (Lukes, 2017), It therefore means that market entry boundaries tend to come down while at the same time the competition levels rise. To Dundon (2002), all these issues lead to a new market type and a more demanding consumer market, that an organisation is required to respond to. A global survey that was conducted during the early 2000s among 700 companies revealed that 84% of business leaders perceived innovation as promising competitiveness aspect in todays world of business (Dundon, 2002). In a nutshell, innovation occurs when organisations seek new ideas in products, organisational behavior, and business processes so as to attain more satisfactory values in the future. According to Greenhalgh (2010), such approaches extend their benefits beyond the customers but also to the organisation and its affiliates. Therefore, innovation culture within an organisation can be clearly seen to be paramount in an organisations validity.

Background

The Brand PR Industry and innovation culture

As with many industries adopting digital platform as one of the modes of offering service and interacting with stakeholders, Brand PR industry is taking itis also taking digital media to another level. The industry flagship new phenomenon PR 2.0 which embraces non-traditional media such Twitter, Facebook, Instagram, YouTube, Pinterest, etc. advocates puts these platforms at the center of the strategy and services offering Friedman (2015). While there are enormous benefits that are presented by these emerging media platforms the risks are also ever present which could have dismal consequences both for the PR agencies or clients, Anonymous (2013). Therefore, it is important to pursue innovation with vigor and vitali...