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SpinDistribute.com Article Directory

The following article was published in our article directory on February 15, 2012.
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The Changing Context of Business Journalism

Article Category: Education

Author Name: chickie maxwell

Three decades ago, espousing an idea to put up a television show or network dedicated solely to business news would be an act of suicide. You would most probably find yourself part of the unemployment statistics immediately. Things are, however, very different today. Concepts which are inconceivable during the last three decades are now becoming standard for the American audience.

The milieu of today's business news is characterized by immediacy and the proclivity for instantaneous delivery. Nevertheless, business journalism is in a state state of evolution, which suggests that the status quo may not be good for the longer term. Consider the historical trends in the following cases-in-point:

The earliest form of business journalism can be traced to limited circulation newsletters from the sixteenth to the nineteenth centuries disseminating information about events and issues which have a potential impact to the local economy, as well as listing of commodity prices, stocks, and advertisements.

By the start of the twentieth century, business journalism improved together with innovations in communication. News articles focused on corruption, unfair business practices, workers' rights, bribery, market conditions, and consumer opinion.

From the 1940s, articles have turned bolder and more inquisitive. Scandals in organized labor, World War II, economic recovery, workplace and product safety issues, and emerging financial markets were the most reported topics until the end of the 1960s.

The latter part of the 20th century featured business journalism taking a bold step towards reaching out to a greater portion of the population by utilizing print, radio, and television, to deliver business-related news.

The advent of the 21st century introduced a new medium of communication, the Internet. Innovations in computers and the Internet made it possible for business journalism to take its place in cyberspace. The number of online editions of popular business newspapers and magazines, business blogs, and other business-related websites have grown and multiplied at an amazing and unprecedented rate.

The coverage of mergers and acquisitions, as well as business media scoops on corporate deals pre-empting official announcement by the corporations involved have significantly changed both the structure and style of writing business news. More importantly, business journalism has gained prominence vis a vis politically-themed news stories in terms of recognition. To wit, among many other awards, a Pulitzer Prize have been awarded to an article elucidating how the Asian financial crisis during the late 1990s has affected Asian shipments of frozen French fries to the US.

Business reporting has caught up with mainstream journalism, not just in terms of writing quality, but in terms of its significance in the lives of businessmen and ordinary people. This may be largely attributed to changes in the context of business reporting. People generally regard business news more or less on an equal footage with other current events. Indication of an impending economic slowdown from news analysts may not necessarily cause massive panic among the general population. Yet, an economic forecast is enough for them to tighten their belt in terms of expenses and other austere practices to prepare for the hard times.

Keywords: business news

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