360° Unveiling the Communication Value Circle
- Denise Bures
- 2. Feb. 2024
- 4 Min. Lesezeit
A Guide to transform Corporate Strategy into Communication Strategy
January 30th 2024 - verfasst von Denise Bures
In the dynamic landscape of corporate communication, aligning strategies with overarching corporate goals is paramount for success. Enter the Communication Value Circle (CVC), a powerful tool that elucidates how communication initiatives can drive value creation at both the corporate management and communication levels. Let's delve into the intricacies of the CVC and explore its application through a real-world example: Naturhotel Forsthofgut.
Understanding the Communication Value Circle
The CVC, as delineated by Zerfass & Viertmann (2017), comprises two interconnected circles: the inner circle representing corporate management and the outer circle representing corporate communication. At the heart of the CVC lies the corporate strategy, serving as the focal point for all subsidiary strategies.
The Inner Circle
Within the inner circle of the CVC, corporate management delineates four target dimensions:
Tangible assets
Intangible assets
Opportunities for development
Room for manoeuvre
These dimensions encapsulate the holistic approach to value creation within the organization, encompassing both tangible and intangible elements critical to corporate success.
The Outer Circle
Corporate communication plays a pivotal role in driving value creation across various dimensions:
Enabling operations
Ensuring flexibility
Building intangibles
Adjusting strategy
Through strategic communication initiatives, organizations can enhance operational efficiency, foster flexibility in response to market dynamics, bolster intangible assets such as brand reputation, and refine corporate strategy based on evolving stakeholder needs.
Naturhotel Forsthofgut's Communication Strategy - analyzed along the CVC
Especially in an era where strategic communication is increasingly digitalized, the tourism and hospitality industry is presented with opportunities but also a lot of challenges. To comprehend the following communication strategy of the Naturhotel Forsthofgut through the lens of the CVC, it's essential to consider the evolving landscape of strategic communication in the digital age. As organizations seek to strategically engage with diverse audiences, the challenges and opportunities brought forth by the digital era become paramount. The Communication Value Circle (CVC) provides a comprehensive framework for aligning communication with strategic corporate goals, offering a systematic approach to understanding the holistic picture of organizational objectives. I analyzed the current communication strategy of my company, the Naturhotel Forsthofgut, as well as drawing insights from the CVC model and reflecting on its practical application, based on the learnings of the course “Strategic Organizational Communication” by Lisa Dühring.
APPLICATION OF THE CVC MODEL
Naturhotel Forsthofgut, as a nature-centric place, encapsulates tangible and intangible assets that contribute to its unique brand identity. The tangible assets, including the physical infrastructure and natural surroundings, form the core offering. The intangible assets, such as the commitment to sustainability, play a pivotal role in differentiating the hotel in a competitive market. Opportunities for development and room for maneuverability in the corporate strategy are vital considerations. The hotel's flexibility to adapt to evolving customer preferences and the identification of opportunities, like expanding their general offers, e.g. wellness offerings, are central to its corporate strategy.
Communication Strategy based on CVC:
1. Tangible assets
Awareness of the hotel is crucial and effective advertising methods, both online and offline, highlight the hotel's offering. I also see this area as promoting employee engagement through solid internal communication. Regular newsletters or communication workshops strengthen EMPLOYEE'S COMMITMENT to the hotel's values.
2. Room for Maneuver
Building TRUST is a very important asset for the tourism industry. There is a wide range of different hotels, where guests can decide to spend quality time. Travelers booking with the aim of what they read and see off- or online. Wrong information about the hotel or the included services itself could be main points of representing your brand trustless.RELATIONSHIPS are important connections between a company and its vital stakeholders, intricately woven with attributes such as trust and satisfaction. Strengthening relationships with Forsthofgut’s key stakeholders, becomes crucial. Improving communication channels for customer queries and complaints is an identified area for enhancement. Chatbots, social media responses, and personalized email communication can address the challenge of establishing and maintaining effective stakeholder relationships.
3. Intangible Assets
BRANDS embody the impressions stakeholders have in their mind about a company or its offerings, serving as substantial assets facilitating business distinctiveness amidst competitors. As a hotel, the imperative is to distinguish oneself in a crowded market. Positioned as a 5-star luxury hotel in the alpine region, Naturhotel Forsthofgut faces competition from numerous high-performing counterparts. Setting itself apart involves emphasizing top-notch services, unique personalized offerings, and creating memorable experiences to establish a distinctive ambiance. Naturhotel Forsthofgut's as a brand can stand out by emphasizing its commitment to sustainable luxury and unique experiences. This can be communicated through targeted marketing materials and online content. REPUTATION management becomes crucial. Regularly sharing stories of the hotel's sustainable practices and community involvement can enhance its standing in the eyes of stakeholders.
4. Opportunities for development
In today's ever-evolving hospitality industry, INNOVATION stands as a cornerstone for staying ahead of the competition. For Naturhotel Forsthofgut, being a 5-star luxury hotel, locatedin the alpine region, innovation isn't merely a choice, I would say it's a necessity. The hotel industry, in general, has seen a paradigm shift in consumer expectations, especially with digitalization. Innovation at Naturhotel Forsthofgut transcends mere technological advancements - it encompasses a holistic approach to enhance guest experiences and set new standards in the industry. This innovation isn't confined to technological upgrades; it's an overarching commitment to enhancing the guest experienceand maintaining a competitive edge.
While not every goal of the CVC model may be equally relevant for each organization, the identified factors are crucial for Naturhotel Forsthofgut and demonstrates the interplay between its corporate and communication goals. The Communication Value Circle serves as a roadmap for organizations seeking to bridge the gap between corporate strategy and communication strategy. By embracing the holistic approach outlined in the CVC, companies like Naturhotel Forsthofgut can unlock new avenues for value creation, foster stakeholder engagement, and drive sustainable growth in an ever-evolving marketplace.
Additional Resources
Explore further insights into how different brands are harmonizing their communication strategies with their business objectives through these articles:
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