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| Tuesday, 6 July 2004 |
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Business | |
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Is public opinion the market force of business? by Dr. Rohini Jayarathne Public opinion can be defined as vague individual impressions that crystallise in an unified attitude for which the support of common acceptance by the people can be discerned. In the field of business one can identify two types of public opinion. One consists of fundamental ideals such as belief in a free enterprise system in a capitalistic society. The other is made up of attitudes vague or definite which are the results of the relations of business concerns with the public. In the complexity of modern living it is difficult to think of a moment when people are not in contact with the business world. The most significant business contacts are www, fax, e-mail, Radio and TV Commercials, Journals about Business and Business Executive Advertisements and Transactions. The reactional people of these encounters leave impressions that are expressed as opinions. These attitudes could make or mar a business even though the sources from which they emanate may be insufficient or inadequate to form conclusions. The business community by its own methods and actions toward the public can influence public opinion formed through contact. Public opinion has to be treated with respect and regarded as a vital issue in business relationships. Disregarding it when social control of business is accelerating would be a total error. Public opinion should be evaluated and its errors and truths sifted. By means of soundly formulated policies and actions the executive could make changes necessary to improve the image of the firm in relation to the public. Public relations is an indispensable function of management. Its purpose the creation of public goodwill through advertising commercials and lectures to exert a favourable influence on the public. The improvement of public opinion revolves on the basis of trustworthy sincerity of a business concern. The responsibility of business is to produce goods and services for the satisfaction of the wants and needs of the public. Both production and social responsibility are vital to the wellbeing of the public. Consequently a balance of these responsibilities is desirable and necessary for the moulding of public opinion. Business is an activity that depends upon human beings and the ability to serve their needs conditioned by the moving and changing streams of social evolution. It has to move along with the current to keep pace with an ever changing society. Management has to steer an even course to realise stability and profit and avoid disaster and a continuous flow of decisions and commands have to be manifested for command leads to action and the decisions which give rise to orders must be based on policy for ultimate responsibility rests in executives authority. |
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