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Whether you’re speaking in terms of manufacturing or investor relations, adhering to best practices is what weighs the unique qualities of an organization against its competitors. </p> <p>Unless the standards were developed by a regulatory or trade agency, the best practices relative to your industry or service may greatly vary; however, there are a few basic practices every company should apply to their operations:</p> <ul> <li><strong>Be forthright</strong> – This means reporting your corporate news whether it’s good or bad. If shareholders feel like you’re hiding the bad news – even worse, if someone else reports this news first – you lose their trust and most likely their investment. It’s important to note that with the right strategy, you can get positive reaction out of bad news.</li> <li><strong>Stay visible and transparent</strong> – Even if you’ve just reported the worst quarter in company history and want to hide under a rock, it’s vital that you maintain communication with your shareholders and reassure them you’re on top of the issue and doing what you can to reverse the damage.</li> <li><strong>Prepare</strong> – If you’re holding an earnings call, writing a news release or sending out a corporate tweet, prepare and review the message and draft answers to potential follow-up questions that may arise. Your responses should be calculated, honest and reassuring.</li> </ul> <p>These three best practices are by no means comprehensive to a strong investor relations strategy. 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