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The Role of Public Relations in Business

With the development of new technologies, the media sphere has significantly transformed. Today , the all the trends towards the active development of public relations in the field of business is obvious. At the same time, there are individual features of working with information within the framework of this activity of large companies, and, accordingly, the variability of the experience of public relations structures that are currently operating worldwide. In order to form the reputation of their company in the market, public relations specialists resort to traditional schemes for foreign countries, transforming taking into account the peculiarities of economic and social models and the cultural specifics of our country.

Many commercial enterprises began to use public relations in their work. It cannot be said that all commercial structures have a press service. However, modern living conditions, the development of technological progress, increasing competition makes many business owners seriously think about creating such a tool that will bring them to the forefront. Often such a tool is the public relations service. It helps to streamline the management system, which is designed to ensure that the internal and external public agrees with the policy and actual practice of the organization.

Nowadays, it's not so difficult to start a business, but it's much more difficult to make it start making a profit. What is the reason for this? Perhaps one of the essential arguments boils down to the fact that modern business must meet all the requirements imposed by society and dictated by the market as a whole. It is not so much what the firm does that becomes important, as its image and reputation. It's no secret that the label has begun to play a significant role. We hear a familiar name, for example, "Adidas", and immediately imagine the products of this the company. We do not need other qualitative characteristics, it is enough that there is a name known all over the world. Perhaps there is another brand of sportswear that has an attractive price, which is better in quality, but if it is not known to anyone, then we will most likely buy what everyone is hearing. Now firms are forced to work on their reputation sometimes more than on quality. According to many experts, in recent years For 20 years, the share of reputation value in the total value of the company has grown from 15% to 82%. At the same time, a decrease in reputation by 1% gives a drop in the market value of the company by 3%.

Many good ideas and projects were not implemented precisely because of external resistance to their implementation. The goal of any business is to make a profit. It is always difficult to achieve this goal, so certain tools are being formed that help in this. One of them is interaction with the public.

It should be understood that PR performs a special management function, which is aimed at establishing and maintaining mutually beneficial cooperation between the organization and the public, solving various problems and tasks; helps the management of the organization to be informed about public opinion and respond to it in time; defines and places special emphasis on the main task of management – to serve the interests of the public; helps the management to be ready for any changes and use them most effectively; performs the role of an "early warning system" about danger and helps to cope with undesirable tendencies; uses research and open, ethical-based communication as the main means of activity.

This approach can be called altruistic, it is also present in other definitions PR, both earlier and later. In this vein, there are also definitions given to public relations by other reputable organizations and researchers. Thus, the British Institute of Public Relations (IPR), established in 1948, adopted the following interpretation:

"Public Relations is a planned long–term effort aimed at creating and maintaining friendly relations and mutual understanding between the organization and the public."

This definition gives an understanding that the activities of public relations services in business are aimed at creating a certain reputation of the company, generating interest in the activities of this company, highlighting the results of its work and, as a result, increasing profits. In order to clearly show the role of public relations services in business, they will consider the work of one of them.