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Exploring Business and the Media

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Business and the Media
The role of the media remains critical in the business environment, and there is no way to
separate the two elements. From time immemorial, the media plays a vital role in linking the
communities with the trade that takes place; therefore, enabling them to make informed choices
about various products and services (Aral, Chrysanthos and David 5). However, it is crucial to
note that although the media takes a significant lead in lining the business world with the society,
it can affect a company both positively or negatively. As such, the distinguishing factor is how
the media codes the information, how people react to it, and the channels involved.
Regarding media, both mainstream and social networks can affect a company in great
details. However, in the present day, the role of the mainstream media is lessening due to the
influx of social media, and people’s change of focus and great belief to information that comes
from online platforms. In this case, when analyzing the connection between media and business,
most of the cases have to do with the impact of social networks to either promote or ruin the
business. All in all, the type of the firm is also a factor because, in the small-scale environment,
social media do not influence market patterns significantly.
As the situation stands, a notable contribution of the media is to expose the unethical
business happenings as well as providing the citizens with the details of the outstanding business
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performers as a way to help the community to differentiate between the good and bad and make
a choice. Also, it is a way to act as watchdogs to ensure that the businesses taking place are
socially responsible and if it happens differently, there is no way they will remain silent.
Nevertheless, there is a great benefit to the larger community since it remains informed about the
business connections in its immediate environment as well as in other parts of the globe.
Media in Helping a Large Company: Promoting Tesla Motors
At times, the government initiates programs that make it easier for business to thrive.
Some actions and facilitations such as stable political climate, tax evasion, and reduction have
been in much application for long. However, through excellent ways, the American government
has put in place the incentive package as a way to perk up the best performers in the market with
a great mission to improve the prevailing conditions. Tesla Motors chose to build the
Gigafactory in Tahoe-Reno as a means to step forward its plans to reach over half a million
electric cars by the year 2020 (Novak 11). As a manufacturer that resorts in reducing alternate
energy, Tesla Motors became a beneficiary of the credit, but the reception was critical in some
important sectors of the country before the media intensively campaigned for Tesla, and the
complaints minimized. As a result, the perception of the company changed, and people continued
to connect with it for business purposes.
As an essential note, Tesla Motors is a beneficiary of government incentive. In the motor
industry, companies usually compete in a very balanced market where products’ quality makes a
significant difference. The introduction of incentive for the company can change the business
environment in great detail. Firstly, it changes the environment between consumers and
producers since instead of providing the demanded products; they are obliged to give the
incentivized products/services. In this case, the company, instead of doing research and filling a
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particular market gap will use up its resources to obtain a government subsidy as opposed to
providing the needs of the consumer.
In the beginning, most of the media reported the case regarding Tesla Motors in a
negative way because of the politics that surround government support for business. For
instance, as it appeared on the CNN records, there was an argument that it is a move that adds no
universal value in the industry considering that it is only few that benefit. As a result, it creates
an imbalance in the economy setup which can harm economic development and growth.
Regarding that, they fail to serve the essential purpose of having incentives in the government
support provisions (Aula and Jouni 69-71).
However, due to the state’s address towards the case in real time, as well as availability in
the media to respond to the many queries that surfaced, it was able to change the perception, and
the media started recording positively about the case. Eventually, many got it as an issue to do
with incentives serving as a boost and a way to encourage creativity in business programs;
therefore, helping to avoid the growing backlash between government and other important
players that influence the shape of the country’s economy. Most importantly, the company’s
image improved, and sales soared.
Negative Impact in a Large Corporation: JP Morgan "Snarkpocalypse."
In the present day business environment, the role of social media in business continues to
become more relevant each day. No company assumes this essential element since a significant
proportion of the market that many targets are on the social media. More so, it has an added
advantage to the low cost of running the sites besides the traffic that connections create if an
organization is well known. However, the way to use it is also risky such as what happened with
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JP Morgan in "Snarkpocalypse." It is a case that confirms that the media can also negatively
affect a company.
The case involving JP Morgan happened in 2012 when it got entangled in a social media
storm after it invited its Twitter users to send their questions directly to the executive. In a way to
facilitate this initiative, the company created a hashtag, #AskJPM so that its Twitter users could
get involved in dealing with their concerns directly through the management (Kennedy and Erich
39). Nevertheless, in a very different manner from what the company expected, most of the
responses were abusive in nature; therefore, enabling many to understand the essential details
they didn’t know regarding the company’s facilities and services.
Initially, the executive was seeking a way to give the students a rare opportunity to
directly communicate with one of the most influential bankers, Jimmy Lee, who is also a
prominent figure on the company’s Twitter sale. As a result of the negative reception, JP Morgan
was prompted to cancel the initiative to allow direct communication with the students. However,
the impact was very unfortunate towards the image of JP Morgan since many started perceiving
it as one that was not sensitive to the customer demands (Kennedy and Erich 42).
On the other hand, it motivated the other sectors to have increased spotlight when
referring to JP Morgan’s business engagements and the media also unearthed other issues that
meant questionable business dealings. For instance, in 2013, many highlights about its $13
billion settlement involved the illegal selling of the mortgage-backed securities. Another
spotlight was the $6 billion Whale trading loss in London in the same year ((Kennedy and Erich
44). From the analysis of how the media reacted to JP Morgan’s scenario, it is evident that it can
be destructive at times although it is dependent on the company’s business dealings.
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Enron Scandal: In the Wall Street Journal
The case regarding Enron is one of the most dominant that the media exposed in great
details. As such, if it weren’t for the press, most of the businesses that took place in the company
could still be unknown even in the present day, possibly. As Yahoo News also put it, Enron was
once a tiny company, but it grew in the natural gas pipeline to become one of the leading
businesses that had a great public connection. It continued to flourish, but shoddy business
practices by the executive let the company down. The company’s bankers, as well as the
advisors, helped the management to benefit selfishly at the expense of shareholders and
investors, which formed the larger part of what the media covered (Li 37).
From this impact, the action led to the eventual collapse of the company in 2001 leading
to significant loss among the shareholders and the pensioners dimming a light in the new
economy that was hoped to spread the wealth, and create job opportunities in the social
spectrum. As such, the company’s blind pursuit towards earnings without factoring the
consequences is also a clear indication that corporate code of ethics is crucial in governing and
controlling management behaviors (Li 37). The media focuses on exposing such cases, and it
was the leading element when unearthing this scandal.
On a light note, the executive worked tirelessly to meet its targets, but the quarterly
reporting syndrome pushed it to the extreme in achieving the earnings expectations a factor that
pushed it to adopt unethical business practices hence distorting the truth in the account details.
Regarding that, it is essential to note that the various constituents of an organization must be
balanced and efforts should not be converged to meet the earnings objective primarily. An
efficient structure that guides actions is essential but also requires reinforcement through values
that build trust and prevent unethical or illegal practices. If not so, the media will expose such
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happenings; therefore, presenting a different image of a company, which may be destructive such
as the case to do with Enron.
Media in Small Companies: Johns Hopkins in New York
In a way to understand the situation in details, Johns Hopkins is a healthcare facility that
embarks on delivering the promise of medicine while considering the improvement of the
existing standards, providing medical education, and embracing the positive contribution of
research in healthcare. An outstanding area of their care is the provision to ensure patient-
centered medication treat and can as well prevent possible illness. As a health company, Johns
Hopkins sought to expand its facility in New York so that it could provide dialysis care in the
city although it was not known. Still, it wanted to market its product in a way that was brilliant
while considering federal and state requirements altogether.
As an essential note, New York is a city that is rich in diversity due to the settlement of
people from various parts of the world, which also enriches its culture. The population of the
region grows significantly and having a health program that targets a mass market is somewhat
advantageous. Statistically, New York is the leading city regarding people in the United States,
and Johns Hopkins wanted to exploit the market by using the advantage of numbers (Ryan et al.
132). However, since it was very new in the area, it sought the use of various media to help it
reach the market widely.
As a small company, Johns Hopkins first involved doing advertisements through the
mainstream media, and mostly, television, newspapers, and the radio. However, the response
wasn’t encouraging as expected; therefore sought the help of digital technology to sensitize
about the product in place. With no doubt, social media serves as a source of information and
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data. It is also eligible for spreading knowledge which intends to change people’s opinions and
views. Regarding that, Johns Hopkins endeavored to popularize its health information along that
consideration, which was very fruitful at the end (Ryan et al. 155). On the same case, it acts as
one of the business marketing tactics hence it is a mode of creating new business opportunities in
both the large and small business.
Besides, social media helps in developing a stronger market position as well as modifying
consumer’s behavior. Through the active use of Facebook and Twitter accounts, the company
saw a significant rise in consumer visits, and by the first year, it was planning to have an
additional unit (Ryan et al. 157). From the case concerning Johns Hopkins, it is evident that the
media can be an integral element in promoting a small business. It is a proven way to have a
wider market reach out as well as improved figures about sales or the services offered.
On the Negative: Quantas Bashtag
The role of the media in business happens in two ways. In the first case, it can be an
initiative of a company to use them in a way to market its products or communicate about an
issue that a company would like to pass out. For instance, charity organizations use the media to
create awareness about looming dangers in the environment or how to connect with them to help
the society. Another way that the function of the media is evident is through their responsibility
as public informers. In this case, they can give credit to a product or a service that a company
provides, or they can criticize; therefore, creating different images in various situations.
As a smaller airline compared to the British Airways, Qantas Airways back in 2011was
involved in a media storm when they give their customers the opportunity to air their views
through the hashtag #QuantasLuxury. Just as in the other case involving JP Morgan, the intention
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of the executive was to bring their clients closer in a way to make them feel part and parcel of the
company. Unfortunately, the platform was dominated by negative posts although many were
concerns to do with poor services that the customers received during their flights. In connection,
it called for industrial disputes with various unions, and due to the negative online influence,
Qantas Airways was compelled to ground an entire fleet leading to significant financial losses
(Aura and Jouni 64).
Primark and Child Labor: BBC Investigation
It involves the Indian market where the company went to the extent of axing suppliers
because of associating with contractors who factor child labor in their business operations. To
show the sensitivity of the matter, the children not only work in physical locations that one can
trace with ease because many were embroidering dresses among other items that the company
display for sale in its numerous stores. As a result, it became a tough case for Primark since its
management could always claim their capability to maintain low prices without compromising
its ethics.
On a related note, as recorded in the Observer, the sacking of officials came as a result of
an investigation by the BBC regarding the business's relationship with their employees. In this
case, the exploration found that there were children without covers in the Indian refugee camps
that the company used for the production of its garments which it would sell later across Britain
(Werther Jr, William and David 211). Apart from just working, the children were also subjects of
prolonged and rest free service provision; therefore, besides the age factor, there was also the
concern of oppressive working conditions. From this BBC exposure, many people avoided doing
business with Primark due to child labor issues. As a result, there was an immediate drop in sales
and a negative touch on its reputation (Werther Jr, William and David 216).
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Pros and cons of social media in business
Social media has both positive and adverse impact on businesses in the area of customers,
communication as well as interactions. Social media supports the clients and also leads to
monetization of brand evangelist’s by the use of practical examples. There is more to social
media than just the websites which provide the medium to the occurrence of the business. Social
media has begun to transform and revolutionize the manner in which businesses interact with
their esteemed customers. Social media changes the manner in which the business communicates
with their clients. The significant fact about social media is that it is the power of the people. The
people run it but not the business. Further, on a more positive agenda, social media offers an
immediate forum in which the customers get an avenue to speak their mind and enhance the
spread of information and data concerning the business.
Nevertheless, the most negative issue is that social media rarely selects what to share
with the general public, all the information whether positive of negative spreads to the public. In
comparison to the traditional marketing criteria, social media gets in a touch with numerous
customers, hence providing a better and broad customer coverage (Kennedy and Erich 31).
Nevertheless, in the process of operation and use of Social media to improve the communication
level between social media and businesses, some negatives aspects come along. For instance, the
information to be passed between the firm and the customers might take a longer time to reach to
the customers after its release from the enterprise.
Also, in the process of making a mistake in the social media about the business
reputation, it becomes harder to rectify the error. In like manner, there is the possibility of
retaining the informing and data in the mailbox. Sometimes, it is also possible to erase it from an
answering machine. To some extent, social media eases the level and provides a platform in
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which the customers can interact with the business managers to answer some given questions
that may take the time to answer in the case of a one on one scenario (Kennedy and Erich 34).
On the same matter, the use of social media to small businesses increases the level of
awareness of the firm. Most of the small businesses are not well known because they are less
accessible. In this case, therefore, the use of social media facilities and enhances the ability of the
company or business to be well known to the member. Indeed, most people may wish to be part
of the firm as customers, but they do not know how best to engage in it. Therefore, social media
enables the small business to get more customers at the expense of creating awareness and
inquiries to the firm. More so, in the process of using social media, the company can build better
customer relationships.
In most cases, social media networks help in enhancing the co-promotion of local
businesses that may improve the image of small firms in a particular area. The idea helps in
increasing growth and development of the company into multilateral businesses within their
working conditions. As such, it is evident that the marketing standards of small business get an
uplift through the use of social media. With no doubts, therefore, it is clear that the social media
platforms have numerous advantages as well as cons to the small businesses within a marketing
environment.
In conclusion, it is no doubt that the media especially social network can enhance the
level of which the business get in touch with their customers without actually meeting them face
to face. As an end note, social selling is all about nurturing relationships as well provision of
prospects with high-quality data and information to ensure that during the purchasing process,
the customers pick the commodities of their desire confidently. As a result, it remains a
fundamental element both for the customers and the business premises.
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Works Cited
Aral, Sinan, Chrysanthos Dellarocas, and David Godes. "Introduction to the special issue-social
media and business transformation: A framework for research." Information Systems
Research 24.1 (2013): 3-13.
Aula, Pekka, and Jouni Heinonen. "Towards an Accountable Firm." The Reputable Firm.
Springer International Publishing, 2016. 65-82.
Kennedy, Amanda K., and Erich J. Sommerfeldt. "A postmodern turn for social media research:
theory and research directions for public relations scholarship." Atlantic Journal of
Communication 23.1 (2015): 31-45.
Li, Yuhao. "The case analysis of the scandal of Enron." International Journal of Business and
Management 5.10 (2010): 37.
Novak, Nick. Winners and Losers: The Impact of Government Incentives. Maclver Institute,
2014. Internet Resource.
Ryan, Marie-Laure, Lori Emerson, and Benjamin J. Robertson. The Johns Hopkins Guide to
Digital Media. , 2014. Print.
Werther Jr, William B., and David Chandler. Strategic corporate social responsibility:
Stakeholders in a global environment. Sage Publications, 2010.

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