Posts Tagged ‘business’

The biggest lie in Capitalism

August 12th, 2011 by Daniel Young | No Comments | Filed in Politics

Criticism towards the actions of big business will ultimately lead to a well used defence:

“They have to protect the fudiciary interests of shareholders.”

The implication is – “we’re protecting you”.  But you hardly need to scratch the surface of this argument to see it for what it is.

Shareholders/stakeholders aren’t enriched in equal measure.

Often the actions of big business have a negative impact on the wider community/environment/future that far outweighs my dividend return as a shareholder.

And has anyone noticed that share markets are in freefall or at best out-of-control-volatile?

The duty of big business should be to protect everyone’s interests (present and future), not just vested interests.

And as global issues such as climate change, famine, civil unrest and resource shortages demonstrate we’re all shareholders at the end of the day.

*** Update *** Interesting conversation here around the concentration of wealth, which has resulted in the US becoming a centrally planned economy.

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Readers should fund online media and that includes journalism and blogs

October 23rd, 2009 by Daniel Young | 1 Comment | Filed in Media

The business model that underpins print media is under pressure as a result of the competition that is presented by free online media in the form of news sites and blogs. Publishers are grappling with a range of questions:

  • Will digital advertising revenue alone support quality journalism?
  • Will readers pay for quality content?
  • Will micro-payments scheme work on a pay as you go basis?
  • What will happen if I start charging for content but no-one else follows suit?
  • Can we maintain objectivity within an advertising-only funded revenue model?

The Internet has caused massive fragmentation of the media landscape, bloggers and news sites have sprung up that cater for the most niche of audience groups – this is a good thing. They attract large numbers of readers but few of them are profitable.

In the medium to long term I believe that the blogosphere will face its own challenges when it comes to funding and sustainability. The net result will be drastic consolidation of the blogosphere, which will have a knock on effect for the niche audiences many of which will lose their ‘media’.

There is a simple solution to all of this. Every publisher charges a fee.

Online publishers whether they be heritage media publishing houses that have made the transition to web, new media houses or independent bloggers should charge a micro-fee for their content on a pay per use basis.

Its a win win win situation.

  • Readers are served by quality mainstream media and coverage of niche interests.
  • Advertising revenue can be devoted to social networks, search, communities, forums, discussions groups and so on.
  • Journalists and bloggers get to maintain their objectivity as part of a sustainable and value industry.
  • Journalism is sustainable.
  • Government, institutions, business, interest groups are held to account by an objective and sustainable Media.
  • Consumers make informed evolved decisions based on influence and information, as opposed to mindless subliminal advertising.
  • Media becomes a true marketplace – quality shines.

I recognise that there are practical issues associated with this model but for me this is the true evolution of the Internet. A force that has democratised information and influence. Lets now apply a workable marketplace for the influence economy.

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Nett Magazine: Managing an Online Reputation

March 31st, 2009 by Daniel Young | No Comments | Filed in Public Relations, Social media

I was asked to contribute to a recent article in NETT Magazine by Sarah Stokley on the topic of online reputation management. The article appeared in the March issue but has now been run online.

Here is the section containing my quote and a link to the full article:

Creating a buzz

Stepping into online conversation about your business means opening up a new line of communication with your customer base. It may sound calculated, but you need to decide what you want to achieve, and where to place your online time and energy for best effect. And don’t forget, happy customers can boost your online reputation by word of mouth recommendations.

So how do you harness the good side of social media and get online buzz recommending your company or products? The secret lies in treading the fine line between participating and just using social media as a way to blast out advertising.

“The party analogy can be an effective way of helping to understand the online community,” says Daniel Young, digital practice director for public relations firm Burson-Marsteller. “If you’re rude and disrespectful at a party then it’s likely that others will talk about you behind your back. This is equally true if you fail to bring anything to the party.”

He advises clients to think about how their online engagement can add value for the customers who are reading the site or online service in question.

As an example, one Burson-Marsteller client, recruitment firm Robert Half International publishes a podcast (roberthalfinternational.libsyn.com) aimed at giving clients and job hunters information and advice. This in turn strengthens the company’s overall brand offering.

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