Introduction
The nonmarket environment of a business refers to the political, economic, social, and demographic factors that affect business operations (Qualman 2010). Usually, these outside forces greatly influence the performance of businesses directly or indirectly. Companies must factor in the external changes that are brought about by media so that the competitiveness remains unique.
Critique
The role of media is vital for any organization aspiring to be successful in financial wellbeing as well as increasing the shareholders’ wealth (Solomon 2012). Government policies and regulations affect business operations. The media shapes the consumers’ behavior towards the organizational public image, which further determines the customers’ trust, purchasing power, and even consumer trends. Media shapes the competition in terms of technological development. For instance, the use of technology has made the workplace safe, flexible, and efficient. Goldblatt (2007) argues that media helps every organization to be updated with the most technological business equipment.
The media has significant effects on business performance. The media exposes the poorly performing entities to the public. For instance, a bad-news report on an organization spreads fast (Liff 2011). Consequently, if the organization fails to offer quick responses to the issues under contention, the negative effects of consumer behavior may prevail for a long time.
Analysis
Business ethics in an organization is a determinant of success. For instance, social morals and ethics in businesses involve the employees’ code of conduct and the business in trade at large (Qalman 2010). For instance, a good crisis example is the adverts from media websites that spread the news about the oil crisis, when a New Orleans judge was set to determine the oil spill case. The media interfered with the judge’s decision on the case by highlighting that the fine payments would be late.
This aspect contradicts the business ethics of managing a crisis whereby the media crosses the borders of privacy. Therefore, businesses find it hard to control the media perceptions and influence to the public, which in turn affects the organizational performance through low consumer purchasing behavior (Cateora et al. 2012). However, the judge followed the ethical conduct of fulfilling the fines payments despite the media influence on the matter.
At one point, the Apple Company needed high-qualified employees to handle some organizational projects. The employees found that the project required some legal purchase of certain application software from the Huawei Company. The employees contacted the management, which undertook the legal process to purchase the application software as needed in the project. Consequently, the Huawei Company praised the employees and the company for the high ethical code and moral of conduct portrayed. The news spread over the newspapers and social media. Consequently, Apple’s dominance in the business went up while the products offered by Huawei gained consumer trust through the observance of ethical business conduct.
Environmental hazards destroy business-marketing trends, which the media may present erroneously. This aspect may take the form of air pollution or sound pollution to the nearby communities. Sometimes media over-emphasizes pollution cases even though they may be significant. Furthermore, natural hazards and climate change may affect business operations like hurricanes and tornados. Moreover, the government sets the price ranges to all business organizations through the national budget to avoid unfair competition platforms amongst organizations in different industries (Cateora et al., 2012). In addition, the technological growth aspect saves cost and time, coupled with providing technological consumer attraction packages for further business growth (Solomon 2012).
Summary
The media plays a very important role as a connector, intermediary, and informer in the business environment. Businesses rely on nonmarket complementarily with market forces for competitive survival (Wood, 2012). The technological, economic, political, and social environment affects businesses, and thus organizations should monitor how these changes affect performance through the media.
Reference List
Cateora, P, Graham, J & Gilly, M 2012, International Marketing, McGraw, New York.
Goldblatt, J 2007, Special Events: The Roots and Wings of Celebration, Wiley, New York.
Keegan, W & Green, M 2010, Global Marketing, Upper Saddle River, Hoboken.
Liff, S 2011, Improving the Performance of Government Employees, American Management Association, New York.
Qualman, E 2010, Socialnomics: How Social media transforms the way we live and do Business, John Wiley & Sons, New York.
Solomon, M 2012, Consumer Behaviour, Prentice-Hall, New Jersey.
Wood, M 2012, Marketing Plan Handbook, Prentice-Hall, New Jersey.