PR
Public relations are a key factor in the process of promotion. Since the whole world is moving towards the concept of globalization, all the organizations are making solid efforts to maintain their public relations at a high standard.
The ultimate goal of these relations is to figure out the attitudes, opinions, and perspectives of people whom the organizations are dealing with. Also, this field of study provides all the necessary information to build up a good reputation among the public.
“The art and social science of analyzing trends, predicting their consequences, counseling organizational leaders and implementing planned programs of action which will serve both the organization and the public interest.” -Public Association Relations
“Public Relations are the management function which evaluates public attitudes, identifies the policies and procedures of an organization with the public interest and executes a program of action and communication to earn public understanding and acceptance.”- John E. Marston.
Public Relations can be used to perform various functions handling press relations, promoting effective communication, promoting product counseling, etc. It helps in achieving objectives like building a good corporate image, building a favorable impression on the mind of dealers, lowering the promotion cost, and many more.
IR
Investor relations are the kind of relations that goes with the responsibility of financial management, marketing, legal affairs, communication, and finance can be considered as key responsibilities that fall under investor relationships. Investor relations controls the information flow between the company’s stakeholders and the investing party. Having good investor relationships affects their success and the financial stability of a company. It also enables the company to gain the optimum share price for the company shares. Furthermore, it is helpful in observing the stock exchange and the market.
PR + IR
Rather than being two different concepts, public relations and investor relations can be identified as concepts that go hand in hand. Investor relations are more like a derived form of public relations. But there are several distinctions between public relations and investor relations. Unlike in public relations, communication is limited to financial information in investor relations. Also, the communication in such an affair is a “one way.” When it is a nonobligatory situation, international relations are one of the important tools to be utilized. It will ensure the company’s achievement of goals that have been set by the management.
Stankevicius MGM is a professional corporate service firm serving clients with public relations and investor relations assistance in local and international markets.
