The Role of Media in the Non-Market Environment and Its Influence on Contemporary Management - Essay Example

The paper "The Role of Media in the Non-Market Environment and Its Influence on Contemporary Management" is an outstanding example of an essay on business. Non-market environments are organizing and collecting factors outside a market system, other organizations, and societal institutions in relation to social, political, and environmental issues. The non-market environment also involves economic and cultural, and legal arrangements considerations that enhance efficient and effective functions while repairing any failures. This environment encompasses interactions between companies and individuals, government entities, and other public institutions. News media is the most influential arena that the non-market actors meet other than the courtrooms, parliament committee meetings, and industry forums among others (Baron 2010).

Role of Media in Non-Market Environment

            While money acts as the market currency, information remains the currency in the non-market environment, and different information has different influences across arenas. Public opinion plays a vital role, and the owners of this information have a great decisive advantage. Persuasion remains the key in all settings, and for this reason, key success involves having the right information for the issue and arena in question. A study by Baron (2010) posits that through media, a company can source from or sell globally, and this is the fastest means of creating business opportunities. Social media is the latest and most effective tool considering that research shows most people spend 70% of their free time browsing.

Example

            A good example is Greenpeace International’s own instant multimedia coverage on the site, whose coverage of events spoiled Royal Dutch Shell’s plan of sinking Brent Spar oil storage marker (Eden 2004). The aim of Greenpeace campaigns includes protecting the environment, preventing pollution, conserving life on earth, and defending the laws of nature. In addition, other objectives include getting the story to the media or airwaves, promoting public awareness, shaming the guilty, and promoting a sense of spirituality and peace around the environment. Unlike Shell, Greenspan understood the power of modern media, emotions, and images. This case portrays the strong power of media, and the effects it has on the society

Media Effects on Contemporary Management

            Contemporary leaders currently use media to research and market their companies. Media enables content development and thought sharing whether through e-books, white paper, and articles among others. Communicating this information through media helps the company receive recognition because of its presented expertise and enhances brand perception from prospective consumers. Media helps these contemporary leaders achieve long-term investment through the extended influence over a societal audience. Through media, these leaders push through revolutionary and innovative ideas to their customers (Drucker 1999). This may happen through blogging or using other media platforms as a podium between the leaders and their potential clients.

Media Effects on Non-Business Practices

            Readers cannot ignore the fact that some people have misused media platforms, especially social media. They can edit or post wrong or misguiding information, which may be a disadvantage to any business. Sometimes the data provided lacks credibility or proper referencing making the consumer believe in the wrong information. The media has had several cases whereby they report biased issues, and this has a negative effect especially in the political arena. In politics, the media has broken many families due to negative reports from opposing candidates.

Conclusion

            Media is the most effective tool today in relation to communication. Technology on the other hand has influenced today’s media using the internet among other platforms. Having or owning the right information is the key tool to success whether in business, political, or any other arena. Persuasiveness to people is relevant in order to gather confidence or trust from society (Needle 2004). The only effective and quick way to deliver information is through media, and it is clear that contemporary managers continue using it to gather and spread information to prospective consumers.