3. Discuss and critic the news media as an industry. What are the various roles played by the participants in the news media? how does management differ from journalist in their perspectives on the who, what, where and why of a story? Who and what controls the media in the 21st century and why?
News media plays an important role in by providing information to the public about matters affecting their lives and the society in which they live. The news media also plays an important role in identifying nonmarket issues and stimulating action that affects their progress. The news media finds business of interest, and with stories instantly transmitted worldwide by the broadcast media and the Internet, a firm's actions are in the eye of the media and under the scrutiny of interest groups, activists, and government. A fortune 500 company can have a great year according to their annual report, and then get hit by a series of blasts from the media about their labor practices, causing sales to plummet . Many companies dread media coverage of their nonmarket issues and have had to develop a capability for interacting with the media.
The essential role the news media plays in a democracy is accompanied by a responsibility to provide information in an accurate and unbiased manner so that individuals can formulate their own conclusions about issues. News organizations face incentives, including those provided by profits, and pressures from competition among news organizations. Similarly, journalists face incentives associated with career and professional advancement. These incentives and pressures complicate the fulfillment of that responsibility. The news media itself is a diverse collection of organizations, including television, radio, internet services, blogs, newspapers, magazines, and journals, and each faces its own set of challenges.
Management and journalists are different in their perspective on what constitutes who, what where and why of a story....
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