Marshall & Gordon Assignment Example | Topics and Well Written Essays - 1000 words

Marshall & Gordon - Assignment Example Public Relations firms across the world provide a wide range of services that are aimed at improving and managing the reputation of a company’s brands, products, goods and services. However, public relations firm are currently facing lots of challenges as they carry on their work. Public relations consultants’ jobs were previously underestimated to be that of creating and issuing of press releases, whereby the PRs had the task of looking for connections with media personalities so that their articles could be placed well in articles. The main aim of doing this was to enhance and sell their products to the public well. This is not the case currently as firms are consolidating through mergers and acquisition; they are also working hard to develop global competencies and expertise to be able to serve clients who are multinational and the powerful social media. This has helped the PR firms to grow a lot and diversify into other extensions of PR services such as handling cas es of reputation management. The firms also seek to increase their annual growth to a significant digit. The main objective in writing this memo is analyzing the issues that are associated with the public relations industry using the case of Marshall& Gordon and the challenges its facing in implementing its compensation system. Introduction The Marshall& Gordon Company is an international organization that was founded out of a merger between Marshall, a firm based in Atlanta and Gordon based in New Orleans. The merged firm came into being in 1950s and made its strategic decisions regarding its focus on communications, branding of products and creation of portfolios, with its headquarters relocated to New York. In 1962, the Marshall& Gordon firm was acquired by PTG, an international firm that was widely recognized in its advertising proceeds, the way it carried out its public relations and its media companies. By 1999, the firm had gone international and got its offices in various co ntinents, with a great person famous for renowned implementation of media tools and innovation in public relations innovation as the CEO. She really helped the firm to grow a lot through her good prowess in the PR activities. The Marshall &Gordon PR has since then assisted other firms to grow especially where they have challenges and issues with the PR section. The company grows fast with its annual growth superseding that of former years in its advertising and branding of products. However, the company is currently facing several challenges which have turned out to be some of its weaknesses. The company’s strength lies in the prowess of the CEO, who has great skill in public relations hence can make decisions that will have great beneficial impact on the company’s reputations. She has also assisted other firms to grow in the decisions that she assists them to make, this has earned the company a lot of respect especially from other PR firms that recognize the company. The fact that the firm has several offices in other continents is a good sign that the company has grown and expanded its business activities; this is another strength and opportunity for the firm. The company’s early decisions to venture into public relations has made it get connections with other great firms from which it has benefited a lot. The company also has strong production, branding and selling of its products however, it has failed in the way it markets its products. The weakness of the firm is in its lateral hires of people who are neither mentoring on any of its associates nor developing any of its clients. The other thing regarding the marketing of its products is the issue of developing an effective compensation system for its clients and public relations consultants. The compensation sys