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press release answer

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBL Exams › press release answer

  • This topic has 2 replies, 2 voices, and was last updated 2 years ago by ABDULLAHI312.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • May 30, 2023 at 7:03 am #685431
    ABDULLAHI312
    Participant
    • Topics: 106
    • Replies: 97
    • ☆☆☆

    Hi Ken,
    Very good morning to you.
    There is this question asking for the press release in response to a news report(a public reaction) on our strategy. first, is there a specific format or It can be any logical format?

    second, when responding to public reaction, the focus is on clearing the air. will using already-known information(like commitment to the sustainable environment presented in the recent financial report) be used in this process or it’s backward-looking and not necessarily convincing the stakeholders about the strategy?

    Bear my confusion for a while?. In the real world, the business case is available to the board and not to the public. so when convincing external stakeholders about our key strategy(i.e. acquisition and mergers) which have reputational implications, would coming out to the public with ’empty’ words, without the backing of numbers, be enough to get our stakeholders confident?

    On the contrary, if we present the numbers in public for a proposed acquisition that we just received public criticism but have not decided on, will that not make the strategy look like being accepted(even though it was not approved- just market talk).

    May 30, 2023 at 5:57 pm #685517
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10589
    • ☆☆☆☆☆

    Companies use press releases to announce developments or to respond to comments ( that might be critical).

    There is no specific format, but head it up with the company name, ‘Press Release’ and its title. Keep it brief and to the point.

    The appropriate content depends on its purpose. If dealing with critical comments then you would either deny that there is a problem (with explanation) or agree, apologise and say what action will be taken to remedy the situation.

    You have to be careful about how much detail you can go into because that might be beneficial to rivals.

    Useful to see a few reals ones, so Google GSK press releases and look at:

    14 April 2011 GlaxoSmithKline announces non-core OTC products to be divested
    26 April 2023 GSK momentum continues with strong start to 2023

    May 30, 2023 at 6:13 pm #685519
    ABDULLAHI312
    Participant
    • Topics: 106
    • Replies: 97
    • ☆☆☆

    ok, that helps. thanks

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  • The topic ‘press release answer’ is closed to new replies.

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