Business Journalism

Topics: Economics, Stock exchange, Journalism Pages: 6 (1800 words) Published: April 8, 2013
Today, financial journalism has taken the centrestage. Economic decision making is decentralised to the extent that it has never been before. This has made economic coverage an all the more sensitive affair. The Indian economy was liberalised in 1991 and its doors ere thrown open to multinational corporations. Consequently, a large number of tie-ups with foreign companies were witnessed. This led to the emergence and growth of more economic newspapers and periodicals. Even the existing ones expanded. They changed their newsprint, design and presentation. The general newspapers started devoting more pages to cover various aspects of the economy. The electronic media stared telecasting special programmes on industry, stock markets and exchange rates. These changes required a certain degree of specialisaiton. This brought in people with MBA and CA qualifications to analyse trends in stock markets, mutual funds, NBFCs and various segments of the industry. Handout journalism is being replaced by hard analysis. The thrust now is to provide people with genuine information. The new developments have opened up opportunities for journalists. Increasing number of journalists today are joining financial journalism Over the past years, India has sustained an average economic growth, making it one of the fastest growing economies in Asia. Thecountry’s growing emphasis on economic liberalization and privatization has highlighted a need to expand the scope and quality of information available toboth decision-makers and the public. The media has the responsibility, as well as the opportunity, to provide societywith objective, accurate, and timely information and thorough analysis of economic trends and events. Today, there is a growing demand in Pakistan for journalists with knowledge in the fields of economics and finance to interpret economic information and present its implications to the public through various media outlets. Economic and financial reports, particularly in terms of print media, generally focus on describing specific events without providing the background and analysis necessary for the public to understand the potential effects of new positions or policies. Incomprehensible jargon is regularly used in news reports without an explanation of the context and meaning of such words, thereby alienating ordinary readers or viewers by catering – intentionally or otherwise – to thosealready involved in business and fi nance. Business journalism is the branch of journalism that tracks, records, analyzes and interprets the economic changes that take place in a society. It could include anything from personal finance, to business at the local market and shopping malls, to the performance of well-known and not-so-well-knowncompanies. This form of journalism covers news and features articles about people, places and issues related to the field of business. Most newspapers, magazines, radio, and television news shows carry a business segment. However, detailed and in depth business journalism can be found in publications, radio, and television channels dedicated specifically to business and financial journalism. Journalists who work in this branch class as "business journalists". Their main purpose is gathering information about current events in the economic life of the[which?] country. They may also cover processes, trends, consequences, and important people, in business and disseminate their work through all types of mass media. Business journalism is growing in importance year by year and now, more than ever, financial reporters and editors need to have a firm grasp of business issues so they can keep their readers and viewers informed of the late More than any other coverage, business story-telling can take many different forms. Some newsrooms emphasize terseness and immediacy. Some favor multiple stories about the same event. Still others emphasize the global nature of their coverage or specific industries....
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