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PR Management Exam 1 > Exam 1 > Flashcards

Exam 1 Flashcards

(65 cards)

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1
Q

Ethics

A
  • Moral principles that govern a person’s behaviors
  • What defines you, can ruin reputation
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2
Q

PRSA Code of Ethics

A
  • PR industry’s attempt to self regulate
  • Members of PRSA HAVE to follow but it’s hard to enforce since all they can do to punish you is kick you out of group
  • Professional value
  • Principles of conduct
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3
Q

Employment Agreement

A
  • More senior level employers
    -Signature indicates agreement
    -Offer letter: outlines terms and conditions of employment
    -Employee manual: company policies and procedures
    -Standards of conduct
    -Contract wording is VERY important
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4
Q

Social Media

A
  • Often outlined in employee agreement
  • What can and cannot be done on social media
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5
Q

Why business acumen matters

A
  • Money makes the world go round
  • Businesses exist to make money, deliver value to owners (stakeholders)
  • Nonprofit organizations need money to operate too
  • Gov needs money
  • Money decisions made by c suite (CEO,CFO,etc)
  • Decisions reviewed/approved by owners
  • Understanding money is difference between being a PR strategist and tactician
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6
Q

Arthur W. Page Society

A

Professional association for senior communicators, has a mission of strengthening the enterprise leadership role of the chief communications officer

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7
Q

Business acumen

A

Becoming knowledgeable about business functions, stakeholders and markets that are critical to organizational success; using this understanding to assess business matters through a communications lens; and providing informal strategic recommendations and actions

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8
Q

Business literacy

A

The ability to understand the vocabulary and language of business. May also be referred to as business fluency or business IQ. foundational to developing business acumen

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9
Q

Chief communications officer (COO)

A

The senior most communication executive in an organization, the CCO is tasked with leading the organization’s function and advising leaders

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10
Q

Chief marketing officer (CMO)

A

The senior most marketing executive in an organization, the CMO is tasked with leading the organization’s marketing function and advising leaders in the C-suite

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11
Q

Chief executive officer (CEO)

A

Top executive in an organization’s C-suite, tasked with setting and implementing firm strategy. The CEO often sits on the company’s board of directors

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12
Q

Commission on PR education (CPRE)

A

With representatives from across industry and academia, the commission provides research based recommendations for PR education

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13
Q

C-suite

A

The group of C-level executives that comprise the senior leadership team within an organization. These are the leaders in the “room where it happens”

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14
Q

Delphi panel method

A

A research method developed by the Rand Corporation originally for forecasting, which seeks to build consensus on a subject among a panel of subject matter experts

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15
Q

Executive committee

A

Also called the executive management committee or the management committee, this group comprises the most senior executives in an organization

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16
Q

Investor relations (IR)

A

A function in most public companies that serves as the primary interface for relationship building between the financial community, such as shareholders, and the company

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17
Q

MBA

A

Master’s in business administration is the most widely recognized graduate degree produced by business schools. First school to offer was Harvard

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18
Q

Page principles

A

A set of seven principles adopted and embraced by the Page Society and its members. These principles are drawn from the writings and speeches of Arthur W. Page

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19
Q

Strategic communications

A

The purposeful use of communication to help advance an organization’s mission and create value for the organization and its stakeholders

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20
Q

Economics

A

The study of cause and effect relationships in the economy

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21
Q

Macroeconomics

A

The economy as a whole
macro=big
The US, China, EU, etc

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22
Q

Microeconomics

A

micro=small
Specific organization or industry
Apple, IU, family

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23
Q

GDP

A

Overall measurement of economy
Market value of all goods produced over a specific period of time
Defines expanding/contracting economy
Two successive quarters of contraction=recession

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24
Q

CPI

A

Consumer price index
Price of a “basket of goods”
Indicator of inflation

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25
Supply and Demand
Core principle, drives price High supply, low demand= low price (WNBA games) Low supply, high demand= high price (Pacers game) Supply and demand drive stock price
26
Interest Rates
- Amount of interest you pay on a loan - Cost of borrowing money - Low interest rates promote economic growth and stimulate the economy - But causes higher inflation - High interest rates slow economic growth, slow economy - But reduces inflation
27
Inflation
Rising prices for goods and services Reduces purchasing power of a dollar High inflation is bad for economy
28
Deflation
Prices fall Devalues what you own/buy
29
Debt Ceiling
Limit set by congress on how much treasury can spend Was just raised by .25%, was the first time we reached the debt ceiling
30
Fiscal policy
Government influencing the economy through changing levels of taxes and government expenditures Very political (pres and congress)
31
Monetary policy
Fed reserve influencing the economy by changing levels of money supply and interest rates Not supposed to be political
32
Federal Reserve
Central bank of the US Bank for banks Apolitical branch Controls US monetary policy How much money is available for use Sets interest rates for banks borrowing from fed and other banks By controlling interest rates, helps to grow economy (combat recession) or slow economy (combat inflation) 7 members Nominated by President, confirmed by senate Serve one 14 year term Jerome Powell-current chair
33
Treasury
Finance department Collects taxes (IRS), manages treasury bonds, prints currency (US Mint), monitors banks, used to oversee secret service Treasury borrows money by selling bonds Congress sets limit on treasury borrowing
34
Bureau of Labor Statistics
Government agency Key economic report employment/unemployment report Unemployment benefits claims
35
Private company
Owners and investors (Cook Medical) Ownership not available to all- no stock Reports to owners confidentially, not public
36
Public company
Ownership (stocks) available on open market- apple Anyone w money can be owner Must report to owners in public, timely, consistent, full manner Regulated by securities and exchange commission (SEC—>stocks)
37
Source of capital for private companies
Founders Friends Family Other investors Businesses Angel investors Venture capitalists Businesses w a lot of money, looking to help start ups for something in return (equity/repayment)
38
Source of capital for public companies
Retained earnings vs paying dividends Keep earnings within company, use later to invest in company Borrowing money (debt) Selling bonds (debt) Selling stock (ownership)
39
Stock market
Forward looking indicator Reflection of what investors think will happen in the future Supply and demand…more people want stock, price goes up
40
How companies use and control stock price
Delivering solid financial results Buying back shares By reducing supply of stock in a company, price will increase Conducting a stock split Splitting stock for same amount, makes stock more affordable Issuing more shares (bad) Usually done when a company is desperate for cash Stocks are a currency companies can use to acquire each other
41
Bond
Generally considered safer than stocks, a bond is a form of debt that pays interest to the holder. Unless a convertible bond, a bond does not represent ownership interest in a firm
42
Capital markets
Includes the stock market and the bond market. This is where organizations go to raise capital and where buyers and sellers trade securities like stocks and bonds
43
Corporate finance
Concerned with the rising and managing of funds (capital) with the goal of maximizing values for stakeholders, particularly shareholder and investor interests
44
crowdfunding
The process of raising small amounts of money through a large number of people (crowd). Popular crowdfunding platforms include GoFundMe
45
debt
A bond, loan note, mortgage, or other obligation, which states repayment terms on borrowed money and if applicable the interest owed as a condition of the borrowed money
46
direct listing
Also known as a direct public offering, a direct listing is a lower cost easy to become a public company without going through the traditional initial public offering process
47
EDGAR
All S public company disclosure documents are required to be made with the US SEC’s EDGAR system. Electronic Data-Gathering Analysis and Retrieval
48
Equity
A stock or other security that represents an underlying ownership interest in a company. More broadly, equity refers to ownership in an asset after all debts have been paid
49
Financial communication
A specialty area of strategic communication concerned with communicating financial matters to the financial community and other stakeholders
50
Index fund
A type of low cost investment product that tracks the performance of an index, such as the S&P 500, The Dow Jones Industrial Average, or the NASDAQ Composit
51
Individual investors
A small, private, non-professional investor that typically buys small blocks of stock when making investments. Individual investors are sometimes known as retail investors
52
Initial Public Offering (IPO)
Marks the first time that a company sells stock to the public and its shares are listed on a stock exchange and widely available for purchase by investors
53
institutional investors
A professional investor, such as a mutual fund, hedge fund, pension fund, or endowment, that typically buys large blocks of stock when making investments
54
Investor relations
A function in most public companies that serves as the primary interface for relationship building between the financial community, such as shareholders, and the company
55
Hedge fund
A type of private investment fund that manages capital for high worth individuals and institutions. Hedge funds have traditionally faced less regulation than mutual funds
56
Private equity
A type of alternative investment manager that may use leverage and invest capital in private companies and/or may engage in the buyout of public companies
57
Quiet period
As mandated by the US federal securities law, a company that has registered to sell stock (ex. Public initial offering) is limited in the public statements it can make. Many public companies also choose to voluntarily adopt “quiet periods” around the release of quarterly earnings reports
58
Road show
A series of meetings held online or in person when a company’s management team, investment bankers, and other advisors meet with prospective large shareholders
59
Securities
Financial instruments that represent some type of financial value such as an ownership interest in a company (stock) or money that is borrowed and must be repaid (bond)
60
Stock
A security that represents an ownership interest in a company and its future earnings. The two main classes of stock are common stock and preferred stock
61
Stock exchange
A market where securities, such as shares of stock in a company, are bought and sold. A company must meet listing requirements to have its stock listed on an exchange
62
Ticker symbol
A stock symbol or ticker is a unique series of letters assigned to a security for trading purposes. (APPL=apple)
63
Venture capital
Capital that generally invests in private, fast-growing ventures with a goal of generating an eventual return through a liquidity event, such as a sale of the business or an initial public offering
64
Wall street
A street in lower Manhattan that is the heart of New York’s financial district. Also used to refer to the US financial industry as a whole
65
Shorting stock
Betting on stock going down in value Can only make maximum of what you spent on the stock No limit on how much you can lose Extremely risky

PR Management Exam 1 (1 decks)

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