1. Business Essentials for
Strategic Communicators
Research, Resources and Results
Ron Culp and Matt Ragas, Ph.D.
January 15, 2015

2. AGENDA
• Research
• Resources
and Results
• Q&A

3. RESEARCH

4. Arthur W. Page Society is a professional association
of 500+ senior corporate communicators--Chief
Communication Officers (CCOs), agency
CEOs and top academics.
Page Up, a Page Society affiliated organization
for emerging leaders, was founded in 2013.
About the Page Society

5. Review three recent studies
• Page Society member survey
• Page Jam (Page Society and Page Up members)
• Page Up pre-conference poll

6. About the Survey
Representative survey of the
Page Society membership was conducted in
Spring 2013 by DePaul University
Matt Ragas, Ph.D. and Ron Culp
A total of 116 responses
received; effective
response rate of 28%
Nearly 7 out of 10 (68.2%)
respondents
had more than 25 years
of experience

7. Importance of “Business 101” as
Part of Training and Education
In your opinion, how important is it that strategic communications
professionals today have a solid grounding in “Business 101”
as part of their education and training?
Extremely
important
84.5%
(n = 98)
Very
important
13.8%
(n = 16)
Moderately
important
1.7%
(n = 2)
Slightly
important
0.0%
Not at all
important
0.0%

8. Do Colleges and Universities Provide
Effective “Business 101” Training?
In your experience, do colleges and universities do enough to
provide strategic communication students with an intermediate understanding
of business concepts and terminology?
No
81.9%
(n = 95)
Yes
1.7%
(n = 2)
Not sure
16.4%
(n = 19)

9. Business 101 topics Percentage (%)
Financial statement basics 74.8%
Financial terminology primer 69.6%
Communication's contribution to company strategy 39.1%
S.E.C. and public company disclosure requirements 33.9%
Corporate governance basics 20.9%
Basics of the stock market and its various players 19.1%
Corporate reputation management basics 15.7%
Economic indicators primer 10.4%
Review of the major types of stakeholders 8.7%
Relationship of PR/advertising with corp. comm. 6.1%
Corporate social responsibility/sustainability basics 5.2%
Careers for communicators with business knowledge 3.5%
Major differences between public & private companies 3.5%
Employee compensation terminology 2.6%
Notes: n = 116 respondents. Respondents were asked to "check off what you believe are the three most important topics
to cover as part of a 'business 101' for strategic communicators curriculum." The percentages represent these totals.

10. Page Jam on the
Future of the CCO
In Fall 2014, Page Society held a live, online brainstorm – a “Jam”
– on the future of the CCO. The Page Jam included Page Society
and Page Up members. Platform created by IBM.

11. Page Jam – A Dissertation in Two Days!
More than 200 communications leaders from three continents participated
in a 48-hour window—38,000 words on the Future of Communications

12. Critical Talent and Skills
You have received authorization and funding to create three new positions. What
positions will you create and why?
SHARE: What are the job descriptions — roles, responsibilities, outcomes? What
are the characteristics of the ideal candidates — professional skills, "soft skills,"
background, etc.? Imagine that you are interviewing the ideal candidates for these
roles. They ask you, "What will you look for a year from now to know if I've been
successful in this new role?“
REFLECT: Why do you now have the need for these roles and people?
Page Jam Sample Question

13. “Unless we each understand how our
companies make money, how they grow
or gain market share, and how they
compete directly in the marketspace,
our story-telling is likely to come off as
superficial or shallow.”
James S. O’Rourke, professor
of management, University of
Notre Dame
“It is critical for communications
professionals to truly understand
the business(es) they support – and
to have sufficient business acumen to
be credible as strategic partners to
other C-suite and senior operational
leaders.”
Susan Kahn, former SVP,
communications, Target
“From a staff standpoint, I'd like to see
stronger business acumen among junior
and mid-level talent - they might have
the digital chops and story-building
skills, but the critical thinking skills are
usually where development and
coaching are most needed.”
Kelly Groehler, VP, communications
Berkshire Hathaway Energy
“As a profession we have collectively
agreed for a long time that business
acumen is a critical - but often lacking -
skill in our teams. What tangible steps
are we taking to change this?”
Marjorie Benzkofer, senior partner,
FleishmanHillard
“There is a limited knowledge of business,
finance, operations, etc. among the PR
folks I know…On the larger point - YES -
future CCOs will have to have leadership
skills and business acumen beyond what
they may need today.”
Jen Prosek, managing partner,
Prosek Partners
13
“When I think about my relationship with
the different CEOs and chairmen I’ve
worked with, it was probably my business
acumen more than my communication
skills that most strengthened the bond
between us.”
John Onoda, senior consultant,
FleishmanHillard
Comments On Business Acumen From Page Jam

14. If you could transfer out of
communications right now
for two years, what
function would you transfer
to in order to optimally add
to your value as a
communication leader
upon your return to that
post?
Page Up Pre-Conference Survey: Fall 2014 Results
Notes: n = 48 respondents.

15. Page Up Pre-Conference Poll: Fall 2014 Results
Please rank in order of most important (1) to least important (10).
Rank Personal Competency
Survey
AVG
1 Deep understanding of business strategy 3.3
2 Trusted advisor to senior leaders 3.5
3 Business acumen 3.8
4 Learning agility 5.6
5 Builds relationships and networks 5.7
6 Navigates ambiguity well 5.7
7 Champions innovation and change 5.8
8 Exerts influence beyond positional authority 6.0
9 Talent champion 6.1
10 Demonstrates resource stewardship 9.5
Notes: n = 52 respondents. Lower average scores indicate greater importance.

16. Page Up Pre-Conference Poll: Fall 2014 Results
Please rank in order of most important (1) to least important (10).
Rank Team Competency
Survey
AVG
1 Storytelling/Brand Journalism 2.9
2 Enterprise/Corporate Strategic Planning 2.9
3 Data Analytics & Measurement 3.7
4 Enterprise Stakeholder Engagement Effort 4.4
5 Social and Digital Monitoring and Engagement (Social Business) 4.4
6 Development and Execution of Owned Media Strategy 5.1
7 Behavioral Science 5.4
8 Agency Partnerships/Management 7.2
Notes: n = 52 respondents. Lower average scores indicate greater importance.

17. Page Up Pre-Conference Poll: Fall 2014 Results
Please rank in order of most important (1) to least important (10).
Rank Outcome
Survey
AVG
1 Communications Drives Business Growth 2.1
2 Leadership of Transformational Change 2.2
3
Leverages Research and Measurement to
Create Insights that Drive Outcomes
3.2
4 Navigate/Collaborate Globally and through Complex Organizations 3.4
5 Facilitate Internal & External Dialogue through Technology 4.1
Notes: n = 50 respondents. Lower average scores equal greater importance.

18. RESOURCES AND
RESULTS
Top 10 Ideas for Building Business
Acumen Across Your Teams

19. 1. Review your Business Model with your Team
How does your
company and
client make or
lose money?
Does everyone
on your team
understand
what drives
your business?

20. 2. Create an In-House Professional Development Program
Beam Suntory Business Academy
• Commercial Acumen
• Crucial Conversations
• Taste of Beam
Established 2012 - 900+ employees

21. “The course gave me a better understanding of how management,
customers and shareholders view the business. It helped me to
realize how my decisions impact the total company.”
“I feel more comfortable in discussions with Finance. I have a
clearer understanding of the impact of inventory and accounts
receivable and payable on the business.”
“The Acumen class gave me a greater insight into the balance of
responsibilities and burdens carried by Finance, Treasury (as a
distinct subset of Finance) …
“I feel able to communicate financial results and reports to my team
confidently and answer questions they may have.”
Employee Engagement

22. 3. Develop an External Professional Development Program
Edelman ‘Mini-MBA’ Program
• Spring 2015 Pilot
• Several dozen senior
executives
• 8-month program
(three modules and
capstone project)

23. 4. Get Everyone in the Habit of Reading and
Discussing Great Business Journalism

24. 5. Quarterly Earnings Release and Coverage
Read, compare and discuss
quarterly earnings coverage
and quarterly earnings releases

25. 6. Check Out Investing Education Platforms

26. 7. Watch and Discuss TV Shows and Short Films
about Business and the Economy

27. 8. Read and Discuss Michael Lewis Books

28. 9. Books for non-MBAs on Business 101 and More

29. 10. Last but not Least:
“Business Essentials for Strategic Communicators”

31. CONTACT
Ron Culp
Instructor and
Professional Director
PR & Advertising
Graduate program
DePaul University
Principal
Culp & Company LLC
rculp2@depaul.edu
(312) 362-6212
culpwrit.com | @culpwrit
Matt Ragas, Ph.D.
Assistant Professor and
Academic Director
PR & Advertising
graduate program
DePaul University
Principal, Matthew
Ragas & Associates
mragas@depaul.edu
(312) 362-6003
@mattragas
Presentation designed by:
Meg Wheaton
Marketing Lead
Gagen MacDonald
m.wheaton@gagenmac.com
(312) 952-2136
@megmarkets