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Business Trends Review On Public Favor And Cyberspace

Jan 9, 2008
There are some solid business reasons behind why aggressive work is being done by the business community to have good press coverage. On the surface, it might seem like the intent of managing public approval for a business is just a desire to be a good citizen and so that public opinion is favorable and everybody thinks of that business as a bunch of "good guys". But the motivations for courting public favor for a business are far more complex and entrepreneurial than that.

Investors like to see a good public image in a business. Investors like to know that the business they are interested in partnering with will be able to complete its business goals and endure year in and year out. And part of that stability means that the business can live up to its mission statement and its statement of values. When the business the investor is interested in has a strong public image that reflects that this is a business that conducts itself with integrity, is interested in the public good as well as private profit and is looking for the long-term gain as well as the short-term profitability. These values translate directly into dollars in an investor situation.

A strong relationship with city and state government is important to long-term business health. Many businesses seek concessions or to enter into a relationship with their local government. A local or state government can be a businesses best friend or stop your projects in their tracks and keep them stopped. But the thing that pleases the political world is public opinion and the public good. So if your business has a good public profile, that translates to votes for the politically minded people at city hall. And that means influence which can help a business go a long way toward completing its long-range plans.

Going to cyberspace

It is a well known axiom of doing business in any industry that those who do not stay in step with the times will be those companies that eventually die out. There is no place where that truism is more evident than in the way that companies in virtually every business sector are finding to integrate an internet marketing strategy with their traditional communications and to provide the public with an internet "presence" to supplement their public profiles in other venues.

The second wave of businesses that perhaps reluctantly ventured out into cyberspace was traditional retail business that you would not associate with cyberspace at all. This includes sport teams, restaurants and even retail giants such as Wal-Mart and Border's Book Stores.

But even businesses that do not depend on marketing at all have seen the need to build and maintain a well functioning business web site so they will have a "face" in cyberspace. In the modern marketplace, the consumer will go to the internet first to find out about a company and its goods and services. This has turned traditional ways of connecting with existing and new customers upside down entirely.
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