Media and
Nonmarket
Issues
Chapter 3
3-1
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Topics Covered
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Introduction
The role of the news media in nonmarket issues
Messages and their interpretation
A theory of news media coverage and treatment
Extending the theory
The nature of the news media
Business interactions with the news media
Recourse in disputes with the media
3-2
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Introduction
• Role played by news media
• Providing information to the public about matters affecting people’s lives and the society
• Identifying nonmarket issues and stimulating action that affects their progress
3-3
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The news media is..
The “fourth branch” of government (Thomas Carlyle)
In the American political system, the fourth branch of government refers to a group that influences the three branches of governance defined in the American
Constitution (legislative, judicial and executive)
Such groups can include the press (an analogy to the
French Fourth Estate), the people, and interest group. Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall
3-4
The news media is..
The “Fourth Estate” (Edmund Burke)
The Fourth Estate (or fourth estate) is a societal or political force or institution whose influence is not consistently or officially recognized.
"Fourth Estate" most commonly refers to the news media; especially print journalism or "The Press".
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The news media is..
Editors and journalists are the “officeholders” of the institution. An office-holder is a person who has an important official position in an organization or government
3-6
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The Role of the News Media in
Nonmarket Issues
• Identifying nonmarket issues
• Placing issues on the agendas of firms
In addition to serving as an arena in which nonmarket issues are addressed, the news media plays an important role in identifying nonmarket issues and placing issues on the agendas of firms.
3-7
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The Role of the News Media in
Nonmarket Issues
• Alert the public, activists, interest groups, and government officeholders to nonmarket issues
• Raise concerns about the policies and practices of firms
• Provide information about the likely effects of alternative courses of action
3-8
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The Role of the News Media in
Nonmarket Issues
• Reduce the costs of collective action
• Enhance a nonmarket strategy by conveying information provided by a firm or interest group
• Represent interests and principles consistent with the news media’s perception of its role in society 3-9
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In Conclusion
• The news media:
• Guards its independence
• Is careful to avoid being used as part of a nonmarket strategy
• The news media has incentives to cover an issue which is of interest to viewers and readers 3-10
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Figure 3.1 - The News Media and the Environment of Business
3-11
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A Theory of News Media Coverage and Treatment
• Forms of treatment:
• Straightforward presentation of facts and description of events
• Interpretation of the facts and events
• Exploration of their potential significance and ramifications • Advocacy of a course of action
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A Theory of News Media Coverage and
Treatment - Explanatory variables
• Intrinsic audience interest in the issue
• An issue’s societal significance as perceived by the news media
3-13
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Intrinsic Audience Interest
• The principal predictions of the intrinsic audience theory are that:
• Coverage increases with audience interest
• Treatment will be chosen to appeal to and retain an audience
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Societal Significance
• The societal significance perspective views coverage and treatment as a reflection of the news media’s perception of the significance of an issue to society. This perspective reflects the media’s role in serving democracy by providing the information that citizens need.
3-15
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Intrinsic Audience Interest and Societal
Significance: Combining the Perspectives
• Treatment depends more on societal significance than on audience interest
• Coverage depends more on audience interest 3-16
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Figure 3.2 - Theory of Media
Coverage and Treatment
3-17
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In Conclusion
• This theory of news media coverage and treatment is based on:
• Societal significance
• Intrinsic audience interest
• Features of stories, such as visual effects, human interest, confrontation, and controversy, are important
3-18
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Extending the theory
• Newsworthiness
• The cost of coverage
• Balance and fairness
3-19
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Extending the theory
• An issue is more newsworthy if:
• It has a degree of immediacy or urgency
• It has a human interest dimension with which the audience can identify
• If it involves a celebrity
• If it involves confrontation or controversy
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Extending the theory
• The cost of coverage
• News coverage depends on the costs of obtaining information and producing a story
• Media organizations are forced to rely on low-cost sources of information
• Cost pressures on news organizations, journalists’ incentives to have stories aired or published, deadlines and space constraints, and competitive pressures can result in inaccuracies in stories
3-21
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Extending the theory
• Balance and fairness
• Journalism standards and editorial controls require that a story be accurate and the treatment be balanced and fair.
3-22
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The Nature of the News Media
• News organizations as businesses
• Primary objective is profit
• Highly competitive industry
• The profession
• Journalists are younger, better educated, and more liberal than the American public
• Journalism is governed by standards enforced by news media organizations and professional association
3-23
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The Nature of the News Media
• Does the news media treat issues selectively? • The news media may not cover every issue under the same criteria
• Most issues are treated under controls and editorial standards
3-24
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The Nature of the News Media
• Bias, accuracy, and fairness
• Most nonmarket issues involving business are complex • The ability to present that complexity and achieve accuracy, balance, and fairness differs considerably among media organizations
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The Nature of the News Media
• The Internet and citizen journalism
• The rise of blogs and social media allows citizens to be journalists
• Many use the Internet to comment on nonmarket issues affecting business developments 3-26
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Business Interactions with the
News Media
• Few companies like their activities to be publicly scrutinized
• The media guards its independence and in particular does not serve as a public relations arm of firms
• The desire for balance and the incentive to develop controversy to make stories appealing gives critics of the company an opportunity to deliver their message to the public
• Some executives agree that the media caters to antibusiness sentiments • In the case of television interviews, the control of the editing process gives the media the opportunity to select the parts of an interview that make the best story, and those may not be the parts business wants to have aired
• Media treatment results in oversimplification, precluding the presentation of a full account of a company’s side of the story
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3-27
Business Interactions with the
News Media
• The need for information
• Many business issues are newsworthy
• Only business has the information that can serve as the basis for a story
3-28
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Business Interactions with the
News Media
• Media strategies
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The unusual is usual
Emphasize the consistency of business and the public interest
Remember your audience
Communicate through the press
The medium is the message
Establish credibility – not friendship
3-29
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Business Interactions with the
News Media
• Responses and media vacuums
• Business prefers to avoid media coverage
• One tempting strategy is not to comment to the media in the hope that no story will appear
3-30
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Business Interactions with the
News Media
• Media interviews
• Managers frequently grant interviews to the media and are called on to speak to the public
• Anticipating issues
• When media coverage of an issue can be anticipated, the firm has the opportunity to prepare
• Unanticipated events
3-31
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Figure 3.3 - Hewlett-Packard
Company Media Guidelines
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Recourse in Disputes with the
Media
• Private
• Recourse to the law: Defamation and libel • Political
3-33
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