The relationship between strategic management and public relations and their implications for financial operations

Abstract

In this paper, the co-authors have addressed the relationship between strategic management and public relations, and their implications for financial operations. In addition to growth and development, financial results of an organization are the focus of a business plan implemented by the director general (strategic manager), and as a rule, they represent the hierarchical link between the public relations service and other services affecting financial operations. The lack of appropriate internal communication and coordination of this ``triangle,'' which is a common occurrence in practice, adversely affects financial results. In this paper, explanations of their mutual relations in the above ``triangle'' with certain recommendations shed some light on multidimensional frameworks of modern business, in which heterogeneous, renaissance knowledge and experiences are required, on the application of which the outcomes of overall, and especially financial business depend. For the aforementioned reasons, in addition to aligning the organization with the environment, strategic managers also have in their portfolio of activities the internal alignment of individual teams, whose synergy contributes to the achievement of the vision, mission, and strategic goals.