Issues and challenges of business journalism


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Issues and challenges of business journalism

  1. 1. Economic Journalism in Nepal Issues and Challenges Prem Khanal Associate Editor Republica, English Daily
  2. 2. Business Journalism in Nepal <ul><li>Organized business journalism started only after 1992 </li></ul><ul><li>All daily broadsheets have 2 - 4 pages for business and economic news, three dailies </li></ul><ul><li>All TV and radios have separate programs to cover business news </li></ul><ul><li>Nepal has 204 working business journalists associated (SEJON) </li></ul>
  3. 3. Issues of Business Journalism <ul><li>This Presentation is divided Into three parts </li></ul><ul><li>First part: Conflict in business journalism </li></ul><ul><li>Second part: Major Issues Related to Business Journalism </li></ul><ul><li>Third Part: Problems of Business Journalism </li></ul>
  4. 4. Conflict in Business Journalism <ul><li>Major Actors of Journalism </li></ul>Internal External 1. Management 2. Editorial 3. Marketing 4. Circulation 1. Readers/Viewers/Listeners 2. Other Media/Competitors 3. Advertisers 4. Interest groups
  5. 5. Conflict of Interest (Internal) Management Higher revenue/ profits, strong and credible media Editorial Unbiased and quality reporting with no corporate or commercial influences Marketing Promotional stories but resistance to negative news [Self censorship + tools of maneuvering ??] Circulation (Print media) Timely wrap up of pages, catchy but simple headlines
  6. 6. External and Internal Interests Management Advertisers/Clients Interest Groups Editorial Readers/Viewers/Listeners Other Media/Close Competitors/Circulation Marketing/ Circulation Advertisers/Clients/ Subscribers
  7. 7. Issues of Tussle <ul><li>Promotional news coverage/ interviews </li></ul><ul><li>News reports to refute reports of other media </li></ul><ul><li>Rewrite/reorganize the news to make them less hard hitting </li></ul><ul><li>Downplay the news to make it less visible </li></ul><ul><li>Killing a story </li></ul>
  8. 8. Issues related to Business Journalism <ul><li>One-way communication </li></ul><ul><li>Complex Presentation </li></ul><ul><li>Questions over reliability </li></ul><ul><li>Imperfect news sources </li></ul>
  9. 9. Public communication: Missing link Source Receivers (Audience ) Medium (Channel) News maker Feedback (Reaction) No Reform Results
  10. 10. Complex Presentation <ul><li>Common perception about Business News </li></ul><ul><li>Technical, full of jargons, thus beyond understanding to common viewers </li></ul><ul><li>“ NRB issues more Repo, thinking about outright purchase” </li></ul><ul><li>Boring to commoners, as the news is not for them. </li></ul><ul><li>So to whom you are writing news… NRB officials, the bankers or to the commoners? </li></ul>
  11. 11. Who are the audience? <ul><li>Readership of Business News </li></ul>Source: Snap Survey and FGD Age Group Political Business Sports Entertainment Others 15-25 15 10 30 40 5 26-35 30 15 20 25 10 36-45 40 20 15 15 10
  12. 12. Who are the audience? <ul><li>Readership of Business News with market </li></ul><ul><li>Products </li></ul>Source: Snap Survey and FGD Age Group Political Business Sports Entertainment Others 15-25 15 15 30 35 5 26-35 30 20 25 15 10 36-45 40 25 10 15 10
  13. 13. Reliability of Business News <ul><li>Use or overuse or misuse of “source” ??? </li></ul><ul><li>Rare international practice of writing news on the basis of single source </li></ul><ul><li>Clintion eyes for WB president: Reuters </li></ul><ul><li>Both the White House and the State Department have denied the news, which was reported exclusively by Reuters on Thursday citing three sources familiar with the discussions. Despite of the official denials, the sources said the story remained accurate . </li></ul>
  14. 14. Imperfect news sources <ul><li>Untrained and uninformed spokesperson </li></ul><ul><li>Lack of informal interactions with media persons </li></ul><ul><li>Lack of corporate communication strategy </li></ul><ul><li>crisis management strategy </li></ul><ul><li>Virtually no refutation of news and reports </li></ul><ul><li>Minimal use of IT in communicating with media persons, mainly for quotes and background </li></ul>
  15. 15. Problems of Business Journalism <ul><li>Presence of a large number of untrained and unskilled journalists in economic reporting. </li></ul><ul><li>No professional organization to train for both amateur and professional business journalists </li></ul><ul><li>Lack of experienced local trainers </li></ul>
  16. 16. The results... <ul><li>Wrong reporting, misreporting and imperfect reporting </li></ul><ul><li>Frequent breach of standard ethics </li></ul><ul><li>Complex presentation of economic news </li></ul><ul><li>Low use of graphics, diagrams and visual effects </li></ul><ul><li>Low use of new media tools and techniques </li></ul>
  17. 17. Initiatives to train business journalists <ul><li>Various organizations often organize training programs , but their impacts have been limited because </li></ul><ul><li>No prior need- assessment of journalists </li></ul><ul><li>Disorganized and focused only on specific areas </li></ul><ul><li>There is no coherence among the trainings </li></ul><ul><li>No syllabus and training manual for trainers and trainees </li></ul>
  18. 18. Business Journalism: Academic Study in Nepal <ul><li>Purbanchal University: A 15-credit course in its 4-year undergraduate program </li></ul><ul><li>Tribhuvan University: Introducing Business Journalism program in its MA program </li></ul>
  19. 19. Issues that need urgent attention <ul><li>For non-academic, there is need to formulate two separate training packages for working journalists </li></ul><ul><li>Basic level training package for beginners or those interested in economic journalism career </li></ul><ul><li>Intermediate level training - A refreshment training plus skill enhancement for professional journalists </li></ul>
  20. 20. For academic study <ul><li>Unavailability of reference books and is the biggest problem. </li></ul><ul><li>As a result , </li></ul><ul><li>Students have to study books written by foreigners that do not reflect domestic business and economic scenarios. Like </li></ul><ul><li>Writing Business News by Terri Thompson of Columbia University </li></ul><ul><li>Show Me the Money by Chris Roush </li></ul>
  21. 21. There exists two biggest hurdles For non-academic area For academic studies No training packages for non-academic skill development trainings for working journalists Lack of reference books for academic study of economic and business journalism
  22. 22. So, two-pronged approach is needed For non-academic area For academic studies Develop different levels training materials for working journalists, at least to begin with 1. For basic level 2. Intermediate level Develop a reference book that matches with university syllabuses and requirements
  23. 23. At the end …. <ul><li>Both the academic and non-academic training is something that determines the future course of economic and business journalism in Nepal. </li></ul><ul><li>Thank you! </li></ul>