Massachusetts launched a new industry yesterday – the biggest start-up in the Commonwealth’s history – and while most start-ups don’t need intensive strategic communications until later in their evolution, reputation management will be critical to the success of this new venture from day one.
The new industry is legalized gambling, a multi-billion-dollar enterprise that many believe will eventually take its place among Massachusetts’ traditional economic engines – tech, life sciences, healthcare, higher education, financial services, etc. In this business model, the state is the chief executive officer and chief ethics officer; every taxpayer is a shareholder; and, every community is a stakeholder, directly or indirectly, for better or worse.
As a quasi-public enterprise overseeing privately run subsidiaries, the Massachusetts Gaming Commission (MGC) will act as a hybrid board of directors and regulator, responsible for fulfilling the promises of the business but also acting as the eyes and ears of the citizens. The communications challenges it faces are immense and serious.
Here are three important steps for a successful launch of this new venture in the first quarter of 2012:
