Thursday, April 14, 2022

How established Indian Companies managed the new normal world triggered by Covid Pandemic, Human Touch of India Cements and MD, N. Srinivasan


14.4.2022

Approaches for New Normal Management in the field of Commerce and Technology

True words of comfort  to employees that came  from the Golden Heart of N Srinivasan, Managing Director, India Cements during the Pandemic period

India needs more true  Human Being Business Leaders like N Srinivasan, MD, India Cements

V. Balasubramanian

It was a big pride for me and my dream came true when I was invited as Chief Guest by the historic 75 year old Ramakrishna Mission Vivekananda College, Mylapore, Chennai for  addressing a seminar on 8.4.2022 organised by Department of Information Systems and Management. 

I was warmly received by  Dr. K. Sethusankar, Principal,  Dr. N.Sridharan, HoD in Charge, ISM Dept, Professors and Students. I offered my respect to Swami Muktimayanandaji Maharaj, Evening College in Charge.

It is my pleasure share the speech I prepared and delivered on the topic  at the inaugural session of Seminar in the College on 8.4.2022. It was  attended by  Commerce and ISM students and they found my speech very useful. The programme was well organised by Faculty and students.










With MD, India Cements on 16.3.2022 during the launch of CSK Cement.


 

V. Balasubramanian, Consultant, Corporate Communication, India Cements

8.4.2022

Seminar on “ Approaches for new- normal Management in the field of Commerce and Technology”

Organised by Department of Information Systems Management of

Ramakrishna Mission Vivekananda College ( Evening)

First, I would like to invoke Blessings of almighty, Gurus and Swamijis for the welfare of all and convey my best wishes to students, faculty and staff of this great institution, founded in the name of great spiritual leader, Swami Vivekananda.

My humble Pranams to Swamiji.Respected Principal, Dr. K. Sehtusankar, distinguished Professors, Faculty, admin staff,  my dear students and invitees.

Sincerely thank Vivekananda College and  Dr. N. Sridharan, Head- In charge of Department of ISM for inviting me for today’s Seminar.

If Education and knowledge are considered the best wealth one should acquire, it is  fortunate to study and learn in an historic institution.  That way, I envy you students for studying in this great historic institution  under the able guidance of dedicated teachers. The college has produced several luminaries , business leaders and achievers.

Big pride and Honour for me to visit this great educational institution because of the historical connect of this College and my great organisation, India Cements.

Both were born in the year 1946 when world war was over and  political freedom was around the country. Their role in nation building is immeasurable. Last year, they Proudly celebrated Platinum Jubilee Year.  India Cements has built several landmark structures. Swami Vivekananda Rock memorial in Kanyakumari was built using our rock solid Sankar Cement.

Again, India Cements and cricket are synonymous and  I am so proud to know the College has a good cricket team and  that leading cricketers are alumni of this college.

 

Seminar Theme

Seminar theme is topical and relevant. Such knowledge sharing  sessions are important for students to understand the current developments in the economy and business world. In my ET days, I had the opportunity of organising many such  sessions for management students in several colleges. They helped the students to know the latest trends in economy and business and  improve their prospects in the job market.

 Based on my long experience in business journalism and ten years in corporate communication, I would like to share some thoughts on the approach of  business and commerce   I have come across during the Covid induced lockdown, containment measures and the post pandemic period.

If you look at India’s economic history, new normal or new economic order is nothing new.  The country as well as   commerce and businesses  have weathered several external and internal shocks, geo political tensions, turbulent periods.

In the past, India waged wars with China and  Pakistan and faced natural calamities like  famine and drought.  Then we had gulf wars, oil crisis, Asian Crisis, BoP crisis, twin tower attack in the US, economic sanctions imposed after N test and the worst global financial  crisis in 2008. We have seen the attack on Taj Hotels in Mumbai.

Since 1991, we have seen sweeping economic reforms, new laws on governance and compliance.  More recently, the note ban or demonetisation in 2016 and the big ticket GST reforms.

After the pandemic, turnaround of economy, over 8 % GDP growth estimated in 2021-22 and RBI has lowered the growth estimate to  7.2%  this year. But, suddenly, now the war between Ukraine and Russia, economic crisis in Sri Lanka and reports of new virus surfacing in China and lockdown in its Shanghai city. Surge in oil and commodity prices. Shortage of coal, pet coke.  So, Every day it is new normal situation or new economic order.

 As described by one American Anthropologist , the businesses have to now deal with a new BANI world of brittle, anxious, non-linear and incomprehensible. This is the world where systems break without warning and businesses have to be prepared to combat them for their business continuity.

 

 

New normal world triggered by Covid 19 , pandemic and lockdowns

The pandemic was a global shock, affecting more than 100 countries. India was the worst hit due to its size of US Dollar 3 Trillion economy and large population. Our healthcare system could not cope with the challenge posed by the deadly life threatening unknown disease.

When the virus spread like fire and stringent nation- wide lockdown started from March 25, 2020, it led to total disruption of economic and business activity.   Organisations had very tough time. Imagine the impact on business continuity with India having 1000 listed large companies in the public and private sectors covering a wide spectrum of manufacturing and service sector.

While the first wave was not felt much in rural India and with good rainfall, agri and allied sectors did well,  industry and services sector took the hit. In the case of cement industry,  the construction activity paralysed, exodus of migrant labour, contract labour. Curbs on inter- state movement. Logistics was a big problem in the movement of cement, which cannot be stored for long. The informal and unorganised sector was also the worst hit during the pandemic period.

 After a month or so, some relaxations, but virus threat was still looming large. No vaccine. Focus, first on saving lives and then livelihoods. Govt of India and RBI unveiled  a series of Atmanirbhar Bharat package- Rs 30 lakh crore or so with focus on reviving consumption and increased public spending on irrigation, road building, housing and other projects. RBI also announced monetary measures to support the stimulus package. Some relief in statutory obligations,  compliance rules, repayment of debt.

 New communication technologies like zoom, MS Team, Google Meet came as boon to organisations.

Most of the organisations   adopted a three pronged approach- positive, proactive and supportive. Positive approach  by way of  building confidence  among employees and their family, communicating to them , motivating them. There are established organisations like India Cements which are known for corporate as well as human touch in their HR policy. New communication technologies like zoom, MS Team, Google Meet came as boon to organisations.

 

 

 

India Cements  MD, Shri N. Srinivasan  a true human being.

 India Cements MD, Shri N. Srinivasan is known for extensively travelling to our plants and market places to meet our executives in the plants and dealers and trade partners. After demonetisation of Rs 500 and Rs 1000 notes, he visited major centres and met nearly 100 dealers to understand the impact on our business and guide them in doing cashless  digital transaction. During the Covid, lockdown period, enabled by  the new technology, he  started addressing our employees in the plants, marketing offices and other offices through zoom calls and other modes.

Our MD is always a true human being. His true words of comfort came straight from his heart when he declared, “ You ( employees) are not responsible for this pandemic. It is time for all of you to take care of your health and stay indoor. Everything else, I will take care”. In my view, India needs more True Human Being Business Leaders like N. Srinivasan, MD, India Cements.

Though the way we do business  changed due to the pandemic, the management took care of  employees in the entire 18 months period and ensured that all the employees are paid their salary without any cut and no one asked to leave during the period. There are organisations resorted to pay cut but restored them latter.

 Plants operated with limited workforce while strictly following all safety protocols. Luckily, that time, fuel, pet coke and other raw material cost was not alarming. Companies turned pro active and focused on pruning  fixed cost, marketing and  admin  overheads and ban on travel. All meetings conducted over virtual mode.

Emphasis on training, multi-skilling

We encouraged the use of technology, made available gadgets for WFH and WFA. Luckily, all our plants have housing colonies and that helped in keeping our workforce safe and  containing the spread of virus. In fact, this was highlighted by  Dr C. Rangarajan Committee appointed by TN Government in 2020 had favoured developing housing colonies in large industrial complexes.

  Another important pro active measure  India Cements  took, was encouraging the permanent employees to learn  new skills,   multi-skilling,  through virtual training sessions.

 We encouraged them to go extra mile, taking up ownership, additional responsibility, bridge the gap, need of the hour,  the job training for maintenance of machines, improving the performance of machines and systems. Implemented TPM, Kaizen practices as part of cost control.

 

Unexpected second wave in March 2021

After the first wave, from the second half of 2020-21, more relaxation in the curbs, economy was limping back to normalcy, pent up released, revenge spending in the festival  period. More construction and house building activity beyond metros in rural and urban centres, cities due to the shift in work places.

 

At the same time, for the second successive year in  2020-21, we had excessive rains and extended monsoon in the two seasons, floods in some parts of India. This affected the construction activity and the demand for cement and building materials. In January 2021, Govt started vaccination drive. We also organised camps for first dose for employees and their family.

As everyone thought virus threat receded, new variant surfaced in March 2021 and the country was hit by the draconian second wave. Its impact was deadly, took lot of lives. Severe shortage of beds in the hospitals, oxygen concentrators, other medical equipment.

 Again lockdown,  containment measures. It disrupted economic activity, affected inter-state movement,  demand and consumption. We extended all possible support to the affected employees and their family members. When vaccine supply improved, We arranged for second dose for employees and family.

Role of Corporate Communication

The role of corporate communication assumed more importance in the pandemic period and new normal situation. I did my best to help our organisation in communicating to our stakeholders, be it employees, channel partners, shareholders, investors, media.  I also focused on improving the content in our house journal, Compass.

 

2021 was the Platinum Jubilee Year. We could not celebrate through public meetings. But effectively used new technologies to celebrate with new creative videos, messages. I brought out a handbook with inspiring thoughts, quotable quotes of MD from his speeches, media interviews over the years, covering his views on economy, industry, management, sports etc. It was well received by our employees and our well wishers.

 

CSK Cement launched as game changer

India Cements has three major trusted cement  brands, Sankar, Coromandel and Raasi for serving different markets. On 16.3.2022, MD unveiled two new brands, Conkrete Super King and Halo Super  King as a game changer and one stop solution from foundation to roof application. CSK Cement is packed with power of  7 unique features of CSK Icon M S Dhoni, VP, Marketing, India Cements. The national roll out of the new cement brands was widely covered in all media. The products are well received in all the markets.

 

Key Learnings from the pandemic

New normal has become a way of life at the individual and firm level.  Organisations have to be more vigilant and alert all the time for business continuity. Difficult to do business planning even for a month.

At the same time, organisations are going for adoption of technology and deploying  IT systems for operational efficiency, understand the trends in the market, customer behaviour and engage with stakeholders. With rapid urbanisation, we see more house building activity in tier 2 and 3 cities. We need to google map the activity and evaluate the performance of trade partners.

 

Luckily, in the google age,  India has strong digital system. Extensive penetration of internet, android, digital mobility. We are able to quickly adapt ourselves to the changes. Organisations are spending more on AI, Machine learning, data science, business analytics, customer experience. More than US Dollar 110 Billion IT spend estimated this fiscal.

 

 

Also, India has developed a strong innovation driven  start-up eco system. We had 726 start ups in 2016-17. Today, we have over 67000 start-ups, spread across 640 districts, employing over seven lakh people- each start up  11 jobs. What is more, India is home to 42 unicorns , each start up company valued at over US Dollar 1 Billion.  This number expected to touch 100 in 2022. We see integration of manufacturing with services, we see companies acquiring tech and app companies as developing them take time.

Remember Swami Vivekananda’s powerful message

Once again, I sincerely thank all of you for the wonderful opportunity given to me to share my thoughts.  Let us remember the Golden, powerful message of Swami Vivekananda in our life time for achieving our goal of a prosperous India.

“ But one vision, I see clear as life before me that the ancient Mother has awakened once more, sitting on her throne, rejuvenated, more glorious than ever. Proclaim her to the entire world with the voice of peace and benediction.  Arise! Awake! Stop not till the Goal is reached”

Jai Hind!

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Wednesday, June 2, 2021

Journalism- Business and Financial Journalism in India

 

2.6.2021 

Chennai

Business and Financial Journalism in India: Evolution, New Dimension, Challenges & Opportunities


V Balasubramanian( visbala@gmail.com) 

K T Jagannathan( ktjagannathan@gmail.com)



We have ventured to write this article on Business and
Financial Journalism utilising our leisure time during Covid and drawing on our over three decades of experience in the field. We do realise that Covid has made the job of a business journalist a lot more difficult. News generation has become complicated in times like these when face-to-face meetings are avoided. We are indeed hoping that this phase too shall pass sooner than later. The emerging new economic order in the post-Corona phase, to be sure, will make the role of business journalists more relevant. Nevertheless, the new order will mean more challenges.

 

With the proliferation of communication channels (especially social media) in the Internet age, readers and viewers are looking for credible business news. The mainstream business media, including leading business dailies and TV channels apart from established general newspapers, are better placed to serve the need. We do hope this article will serve as a useful guide and reference material for business journalists, those aspiring to enter the field, teachers in Journalism Schools, readers and viewers and all those stakeholders interested in knowing about the profession.

 

                                            KT Jagannathan & V. Balasubramanian









What is Journalism?

Journalism is information. It is communication. It is basically about reporting  news. Business Journalism is an integral part of journalism that tracks, records, analyses the news relating to  economy, different sectors and  different spheres of business. 


A peep into the past

Business and financial journalism has grown and sailed smoothly along Free India and its planned economic growth through Five-Year Plans. Since 2014 when the NDA Government led by the BJP returned to power, the Central Planning Commission has been replaced by a Think Tank called Niti Aayog.

 

 Over the past few decades, Business and financial journalism has consistently gained momentum in the country. Indeed, mainstream political publications sensed the potential for business news long ago. That gave birth to full-fledged financial newspapers in the country. Financial Express and The Economic Times were launched in 1961. Then came Business Standard, which was launched from Calcutta in 1970. The Hindu Business Line came into being in 1994 and the HT Mint came much later. Business and Political Observer, originally launched by the undivided Ambani Group stopped publication and Financial Chronicle which was  published by Deccan Chronicle is now merged with DC pages. 

About the authors


 V. Balasubramanian scored first class in M A Economics from Kumbakonam Govt. Arts College. He did a journalism course in Mumbai. He served Commerce Research Bureau, Mumbai,  Financial Express in Mumbai and Chennai from 1979 to 1989. He worked in  Economic Times, Chennai from December 1989 till March 2013. He was then Asst.Resident Editor of ET Chennai.

 

K T Jagannathan did his M A Economics from Vivekananda College, Chennai. Since early 80s, he  worked in various publications - Financial Express, The Economic Times, The Indian Post, Free Press Journal, Business Standard, Business India, Indian Express and The Hindu. Jagannathan now writes for The Wire, Telangana Today and the like. And, he held the position of Associate Editor at The Hindu.

 

The  big change
Business journalism has seen a big metamorphosis over the years. In a controlled economy with plan models and a lot of centralisation, the focus was on reporting and writing articles on Central Government, Five-Year plans, Union Budget, and public sector undertakings, which, once upon a time, dominated the national economy.

 

As it was a control and licence raj till 1991, private sector
could enter only limited areas with licence and capacity
limits. Capital markets, both primary and secondary
ones, had limited roles, and not much funding was
raised through public issues and other instruments. Along
with Mumbai Stock Exchange, we had regional stock
exchanges in Calcutta, Delhi and Chennai which had some listings by some local companies.

During former times (much before the onset of liberalisation and globalisation), the job of a business journalist was to inform the readers (mostly business and industry) the policy actions of the governments and provide key inputs for stakeholders of all kinds to arrive at an informed decision. Mostly, the job of a business journalist was one of a facilitator (of information). He/she provided the useful link or tool in the decision-making process.

 

After all, information on critical numbers at that point of time was hard to access by all and sundry. Given this backdrop, business/financial journalists did serve as the bridge in those times between the establishment and the industry. Much water has flown under the bridge since those pre-liberalisation days.

 

From our long experience, we can say that the profession of business journalism is challenging and demanding. While it is exciting, it now calls for a more creative and analytical mind, passion, alertness, patience, perseverance and nurturing solid contacts and reliable sources across the fields. We have very discerning readers. Business journalists have to be watchdogs. There is vast scope for specialisation. There are so many beats now available to cover.


Liberal era
Things really changed in India when in 1991 Prime Minister P.V. Narasimha Rao combined eloquently with his Finance Minister Dr. Manmonhan Singh to push India into a hitherto unknown path. The country has come a long way since then.

Thanks to this duo, liberalisation started sweeping the

Indian shores. The country witnessed de-control, de-licensing, liberal foreign direct investment/joint ventures ,easy rules for raising funds with free pricing from the capital market and so many unthinkable changes.  MRTP, FERA, CCI were all scrapped.

 

There was a big shift from a mixed economy model of having  public sector undertakings and private sector units to opening up of several sectors to private corporate sector, MNCs (multinational companies) and foreign players. Capital market developed manifold with plethora of instruments such as public issues, mutual funds, debentures, GDRs (global depository receipts), FRNs (floating rate notes), PNs (participatory notes) et al.

Sweeping changes and amendments have been made in
the Companies Act, laws relating to starting a business,
operating a business, industrial relations, human resource
management, CSR (corporate social responsibility) and  service providers.

 

 


The SEBI (Securities and Exchange Board of India) has come to play an increasingly critical role as a watchdog to
monitor the stock markets, corporate governance and
disclosures and protect small investors.

 Also, new generation entrepreneurs have entered and grown fast in a number of fields with the scope for raising funds from private equity and venture capital. Similarly, the role of RBI (Reserve Bank of India) and other regulators, statutory bodies, courts, company law-related institutions and others, too, has undergone an incredible transformation.


Big change in content
We have seen a big change in the content of business
papers in the last 30 years. No doubt, they continue
to cover news relating to government policies,
corporate sector developments and stock and commodity
markets. However, business papers, business TV
channels, online media and content writers have realised
the need to insulate the circulation, readership and
viewership from the vagaries of ups and downs in stock
market, business and economic slow-down. They have
started diversifying the content with more stories and
analysis on lifestyle, healthcare, business life, leisure,
education and careers, HR, consumerism, brands, advertising and marketing apart from covering political developments at
the national and state levels.

 

Career in business journalism
For long, career in business journalism, either in reporting
or editing line, was pursued by those who studied
economics and commerce or English and by those having
a flair for writing and good command over English. Over
the years, dedicated journalism schools have started offering
courses. Later, the profession started attracting specialists such as bankers, CAs, MBAs, engineers and techies.

Growing Importance of economics
After the global financial crisis and meltdown, economics
as a subject has gained importance. It governs the life of
individuals, society and modern States. The knowledge of
Economics helps in solving many problems, and the study
has practical advantages. More importance is also given
to studying business economics, which is defined as the
integration of economic theory with business practices for
the purpose of facilitating decision-making and forward
planning by management. It is also known as managerial
economics.

Joy in breaking news
More than the salary and positions, we would say there is
more joy for business journalists in breaking a big story
ahead of competitors. This is called the power of prior
knowledge. It is acquired based on the solid contacts they
have developed over the years, trust they have built with
their contacts and the passion and knowledge with which they followed up a news development. The way in which a
way news breaks are presented to readers has changed a lot over the years. There is a sea change in the style of reporting and the way in which a news break is presented in TV channels, online media and print editions.

Today, news breaks are about delivering a “distributed information’’ first! In our times, news break was about delivering exclusive information (not available to competing-journalists). In an era when there was no Internet, no Google , no mobile, news breaks often gave us enormous satisfaction, and much pride. More than the monetary compensation, we cherished a word of appreciation from our editors. Such words were enough to make good for all the troubles we took  in those days for breaking the news based on our solid contacts.

In news reporting, we have seen   a big shift from B to B to B to C. That is, the news is reported not just to cater to a specific
industry or enterprise. Today, we have to keep in mind the interest of a wide range of readers who are like customers for business media. Business journalists have a lot of
responsibility in writing a report without bias. They have
to look beyond news releases and press meets and package their reports with wealth of information about the news development.

Their perception should reflect the perception of the market.
They should discern emerging trends and write
reports and articles (disseminate information) in a simple language and easy-to-comprehend manner. The objective must be to educate them and enable readers across canvas in their decision-making process. They should don the role
of a catalyst, a change agent, for public good.
 

Business news & regional media
In the last 10 years, business dailies and business TV
channels are facing competition from the increasing

coverage in general newspapers and TV channels apart
from foreign media such as Wallstreet Journal, Financial
Times, Bloomberg and Reuters mainly as content
providers. Regional newspapers in different languages,
TV channels, online media and the like have also started tracking and reporting business news. Global melt-down and financial crisis in 2008, big ticket economic reforms and
demonetisation have all created a big awareness among
the readers and viewers about economic and business
news.
More than a decade ago, in a pioneering move, The Economic
Times and Daily Thanthi, the number one Tamil Daily,
forged a tie-up with one page of ET published in Daily
Thanthi. It proved a big hit, helping Thanthi readers understand the business developments. Later, other
publications tried to experiment with the model and succeeded
to a limited extent. Exclusive business journals were also
launched in some regional languages. Along with business TV
channels, regional TV channels, too, started covering business
news.

Growing relevance in  globalised environment

We see increasing scope for business news and, in turn,
career prospects for the business journalists with India
coming to play an important role in global economy and
contributing to global growth.



After reforms and liberalisation, India has moved to the
centre-stage in the economic space. As it had weathered
several internal and external shocks in the past, it is sure to
weather this Covid storm as well. It is set to become a
vibrant economy seeing good growth in manufacturing,
infrastructure, housing, agri-related sectors, service
sectors like IT, financial services, health care, education
etc. It is also set to emerge as a major exporter of goods
and services. India has seen the emergence of a new class of
entrepreneurs.

 

Every business is becoming organised. Public expenditure by the Centre and States will play a major role in stimulating growth in the economy. Alongside our growth story, the job market will be
exploding. Every year, the organised sector alone is
estimated to be generating one million new jobs by over
1,000 companies across 11 industry segments- banking
and financial services, education, energy, hospitality & travel, IT, ITES, real estate & construction, trade, transport
and manufacturing.

Following are major developments that will increase the
scope for generating business news:

1. India has moved to the centre-stage in the global
economy- on the threshold of becoming an economic
super power- clear vision-strategy- India pride stories.
2. More global players\MNCs, NRIs, people of Indian
origin, have entered Indian market directly or through
joint ventures- marketing or for manufacturing-
exports\outsourcing. Increasing privatisation,
corporatisation, big ticket investments in infra projects.
3. States are vying with each other to be part of the India
growth story - good politics has come to drive good
economics- better governance, ease of doing business,
transparency and quick decision making.
4. Increasing size of India Inc, more billion dollar companies,
more number of Indian companies going global- M&As,
setting up shops abroad- celebrating success stories
5. Youth power- aspiring middle class, consumerism,
increasing disposable income, wealth distribution,
growing investor population, increasing investments in housing and
realty.
6. New class of first gen entrepreneurs entering the
manufacturing and service sectors - open to raising funds
from the market, private capital
7. India born and educated professionals are shining as
business leaders, CEOs in MNCs and global
organisations.
8. Every business becomes organised - be it retailing,
recreation, tourism, facility management, film making.
9. Agri and rural India joining the India growth story.
Better price for farm produce, investment in farm gate
infrastructure.
10. Structural change in the economy. Service sector is
contributing maximum to GDP and job creation. Indian
manufacturing sector has stood the test of time, riding on
make in India policy, indigenous manufacture of a number
of products, brand building.
11. Emerging new business models after Covid era,
increasing work from home, work from anywhere, re
location of workplaces, decongestion of metro cities,
development of tier-two and three cities,

Role of stakeholders
Everyone should understand the changing dynamics of
business journalism. They should treat journalists as
partners in their progress. In turn, journalists should have
a dream to excel in their career path.
Unlike their colleagues in general papers, they have
tremendous learning opportunity. They can utilise the
opportunity by participating in meetings conducted by industry bodies and professional institutes and listening to CEOs, experts, resource persons and business achievers. This will help them in networking and building their contacts. Developing contacts and sources is an art - it can be built by way of courtesy, trust, honesty, integrity, fostering long term
relationships and humility.

 Attrition is bugging the field, too. Seniors should share their experience, knowledge and contacts and groom their colleagues without any hesitation in the interest of the media.
PR managers and corporate communication heads
should be equally knowledgeable, understand the
changing dynamics of news content, shift from B to C, share what is of interest to readers instead of only their clients and educate their staff on the business of clients.


Finishing School 
Business media journalists have to constantly upgrade
their knowledge and sharpen their writing style, copy editing and page-making. Like in other profession, there
is need for finishing schools for running orientation and
training session for them with the help of seniors, business
leaders, professionals and resource persons. Business
media should encourage the journalists in following ethical
practices and reward them with a good pay package.

Challenges
Market is opening up to more players. A platform or brand pull will no longer fetch them exclusive stories. Whoever is alert will get it first. People are not staying long in a company. Trend of companies getting delisted and becoming privately held means less disclosure by MNCs compared to
Indian companies. The SEBI has widened disclosure norms for listed companies. It will be increasingly difficult to spot the news ahead and break it before others. But, with contacts and domain knowledge, it is possible to give more value addition in the reports.

Career opportunities

After a formal degree in journalism and communication,
the candidates can look for working in the mainstream
media world consisting of newspapers, magazines, TV
channels, Online, FM Radio, or take up a job as
communication executives for corporates, governments, public sector firms, NGO, research bodies, credit rating agencies, institutions et al. Depending on educational back
ground (science, arts, commerce), one can pursue career
in general fields or specialise in business or economic
journalism. It is essential to have knowledge of economics
and business terms even for general journalism.

Roles & responsibilities 

Business media should not become another mass media
that is seen growing without masses. Instead of
reporting on trivial things, it should highlight legitimate
causes of national pride, good work being done in every
nook and corner of the country - be it by an individual,
department, agency, organisation, NGO or a corporate.
It should become a vehicle for spreading good messages
and soft stories.

 

Business media has a big role to play in nation building.
When the media begins to identify and deal with
development issues on a sustained basis, they will
generate public discussion and help governments and
the people alike to arrive at well informed opinions.

We want to transform India into a developed nation. That
means achieving complete freedom from poverty,
illiteracy, unemployment and regional and social
disparities. Therefore, development journalism should
move to the centre stage. If the media has the power to
shape and mould public opinion, it has to be done within
a framework of fairness and impartiality. 

We need to move “from freedom of information to free flow of information, from the free flow of information to the free and balanced flow of information” as a UNESCO report said.

 

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K.T.Jagannathan                                                    V. Balasubramanian

Financial journalist                                Economic Analyst, Corp Com Professional

www.carnaticdarbar.com                                                    visbala@gmail.com

http://ktjagannathan.blogspot.com/                                         viswabala.blogspot.com

ktjagannathan@gmail.com

 

 

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