Industry leaders on the Power of Narrative and Communications Capital

At the 6th edition of the Women Achievers Summit 2025, a compelling fireside chat on “The Power of Narrative and Communications Capital” brought together Dr. Shailesh Goyal, Founder & Director, Simulations PR and Aarti Laxmanan, Chief Communication & Advocacy Officer, Vedanta Power for an insightful discussion on trust, reputation and the evolving role of communication in today’s hyperconnected world.

Opening the session, Aarti Laxmanan expressed that communication today goes far beyond visibility and publicity. She mentions that it is fundamentally about building trust among all stakeholders: employees, investors, governments, communities and the media.

Calling communication capital the “accumulated value of trust built over time,” she remarked that organisations which have consistently earned credibility often do not need to overexplain themselves during difficult situations because it speaks for it before any official statement from our desk does.

Drawing from a recent crisis-management experience, Aarti emphasized that the real test of communication capital comes during moments of challenge, when stakeholders judge not only what a company says, but whether they trust the company saying it. “An organization that has earned credibility consistently need not overexplain itself during moments of crisis,” she said, adding that communication capital often speaks before any official statement does.

Responding to her opening question on how communication capital should be defined today, Dr. Shailesh Goyal shared a striking real-world example of a large corporation facing a regulatory crisis. Despite having millions of rupees, the best legal minds and continuous data flowing, the company’s reputation collapsed within 48 hours because, as he explained, “there was no communication capital earned.”

Using a powerful analogy, he mentioned, “They thought communication capital is like an ATM — they’ll withdraw whenever they want. It doesn’t happen that way.” Stressing that trust and credibility cannot be created overnight, “You have to build it continuously and consistently. Then only it is there for you when you need it,” he further added.

Speaking about the volatility of today’s digital environment, Dr. Goyal highlighted how even the country’s biggest brands are vulnerable to reputational attacks online. Referring to his work with Amul, he underscored that social media accusations around quality or products emerge constantly, but organizations that are confident in their processes and integrity can respond with transparency and facts.

The conversation also explored the increasing pressure on communicators to balance speed with accuracy in the AI and social media era. Dr. Goyal observed that communication teams are often brought in only after business decisions are made, forcing them to merely dress up decisions rather than shape them strategically. He argued that communication professionals must become consultative voices within leadership teams instead of remaining the end of the pipe.

On whether corporate communication has evolved into a strategic leadership function, Dr. Goyal acknowledged a visible shift in boardrooms. “The realization has happened that communication is an equal and important part of the think tank,” he said, pointing out that organizations increasingly understand the consequences of taking decisions without involving communication leaders early enough.

The discussion further delved into the role of internal communication in shaping organizational culture and advocacy. Dr. Goyal made a sharp observation on the disconnect many companies face between external branding and employee perception. “What your company is writing on LinkedIn and what your employees are writing on Glassdoor — if it is not in sync, then there is a serious gap,” he said. He stressed that employees, vendors and stakeholders must align with the organization’s ideology for external reputation-building to hold credibility.

Addressing young communication professionals, Dr. Goyal cautioned against overdependence on AI tools and surface-level communication practices. “They should not rely entirely on ChatGPT and AI,” he said, encouraging professionals to understand businesses beyond press releases. According to him, communicators must think about the balance sheet, the framework in which the business is operating, as that broader understanding shapes stronger strategic communication.

One of the session’s most impactful observations came when Dr. Goyal described today’s communication ecosystem as both viral and fragile. While misinformation can spread globally within hours, he also pointed out that organizations now have the ability to counter narratives with equal speed using the same digital platforms.

Towards the end of the conversation, Aarti raised the example of Elon Musk and his belief that companies can function without PR teams. Responding to this, Dr. Goyal remarked that if a company is truly confident about its product, people and processes, reputation can indeed sustain itself organically. “The product itself becomes the proof,” he said, adding that no amount of publicity can compensate for poor products or broken consumer trust.

Closing the session, Aarti Laxmanan summed up the essence of the discussion by describing communication capital as an intangible asset that resilient organizations consciously build over time. She noted that communicators ultimately bridge the gap between an organization’s intent and how authentically that intent is experienced by people.

Adding a final thought, Dr. Goyal remarked that communication capital should be treated “like a balance sheet item” and considered not only as an investment, but also as a long-term organizational repository of trust and credibility.