Strategic Communication Regarding Philanthropic Activity by Biotechnology Firms: Integrated Approach to Sustainability and Social Responsibility

• Published in: Business Communication Research and Practice Vol. 7; no. 1; pp. 48 - 57
• Main Author: Han, Se-hyeon
• Format: Journal Article
• Language: English
• Published: 한국경영커뮤니케이션학회 01.06.2024
• Subjects: 경영학
• ISSN: 2586-5293; 2586-534X
• DOI: 10.22682/bcrp.2024.7.1.48

Objectives: This study aims to examine the strategic communication of philanthropic activities in the context of biotechnology firms, focusing on the dual enhancement of social and corporate value. It seeks to extend extant literature by providing an empirical in-depth analysis of this specific sector. Methods: The research involved a comprehensive analysis of press releases issued by leading pharmaceutical companies from 2021 to 2024. Additionally, secondary data related to strategic communication and corporate social responsibility (CSR) activities were reviewed. This mixed-methods approach facilitated a robust understanding of how biotechnology firms strategically communicate their philanthropic initiatives. Results: The findings confirm that the strategic communication of philanthropic activities significantly bolsters corporate performance and social impact in biotechnology firms. Specifically, these activities were found to enhance brand equity and foster consumer loyalty. The data suggest that effectively communicated philanthropic efforts contribute to a positive corporate reputation and increased stakeholder trust. Conclusions: The study concludes that the strategic communication of philanthropic activities is integral to promoting sustainable growth and reinforcing public trust in biotechnology firms that experience unique challenges. While they tend to use traditional media, they would benefit from media diversification and targeted messaging. By embedding CSR activities within a broader strategic communication framework, biotechnology firms can optimize social and economic benefits. This integrated approach not only underscores firms’ commitment to social responsibility but also enhances their competitive advantage in the marketplace. KCI Citation Count: 0