The Unique Role of Public Affairs

Public affairs is often lumped together with corporate communications, marketing, and sometimes government relations. While there are clear connections and even some overlap, it's crucial to recognize that public affairs occupies a unique and vital place within a mature (or maturing) organization.

So, what exactly is public affairs? At its core, public affairs is the strategic management of relationships and messaging between an organization and non-contracted external stakeholders. Its primary goal is to create a favorable operating environment for the company while promoting and protecting its interests. Public affairs is about conditioning the environment for positive relations and communications between the organization and external parties.

A key aspect of this definition is the focus on "non-contracted" stakeholders. While every organization maintains direct relations with key groups like investors, employees, and customers (governed by explicit contracts or agreements), public affairs is concerned with broader societal influences, particularly an organization’s relationship with indirect (or non-contracted) stakeholders.

Let's break down how public affairs compares to other related functions:

While these functions may overlap in some areas, public affairs stands out in its focus on shaping the broader environment in which a company operates.

As I discussed in a previous article, one effective way to implement public affairs strategies is through Issue Management Groups (IMGs). These cross-functional teams can help coordinate messages and objectives across an organization, ensuring a cohesive approach to public affairs that is aligned with the business and supportive of direct corporate communications, marketing, and government relations.

In today's complex business landscape, particularly for disruptive tech and fintech companies eyeing IPOs or significant transactions, a well-crafted public affairs strategy can be the difference between smooth sailing and choppy waters. By actively engaging with and shaping the environment around your organization, you're not just reacting to changes—you're helping to steer the ship.

Remember, in the world of public affairs, it's never too early to start telling your story. After all, if you don't, someone else will.