Business journalism
Encyclopedia
Business journalism is the branch of journalism
that tracks, records, analyzes and interprets the economic changes that take place in a society. It could include anything from personal finance
, to business at the local market and shopping mall
s, to the performance of well-known and not-so-well-known companies
.
This form of journalism covers news and features articles
about people, places and issues related to the field of business
. Most newspapers, magazines, radio, and television news shows carry a business segment. However, detailed and in depth business journalism can be found in publications, radio, and television channels dedicated specifically to business and financial journalism.
Business journalism began as early as the Middle Ages
, to help well-known trading families communicate with each other. In 1882 Charles Dow
, Edward Jones
and Charles Bergstresser begin a wire service that delivered news to investment houses along Wall Street. And in 1889 The Wall Street Journal
began publishing. While the famous muckraking journalist Ida Tarbell did not consider herself to be a business reporter, her reporting and writing about the Standard Oil Co.
in 1902 provided the template for how thousands of business journalists have covered companies ever since. Business coverage gained prominence in the 1990s, with wider investment in the stock market
. The Wall Street Journal is one prominent example of business journalism, and is among the United States of America
's top newspapers in terms of both circulation
and respect for the journalist
s whose work appears there.
A journalist who works in this branch is considered a business journalist. Their main purpose is gathering information about current events in the economic life of the country. They may also cover processes, trends, consequences, and important people, in business and disseminate their work through all types of mass media.
Business journalism, although prevalent in most industrialized countries, has a very limited role in Third World
and developing countries
. This leaves those citizens in a very disadvantaged position locally and internationally. Recent efforts to bring business media to these countries have proven to be worthwhile.
Journalism
Journalism is the practice of investigation and reporting of events, issues and trends to a broad audience in a timely fashion. Though there are many variations of journalism, the ideal is to inform the intended audience. Along with covering organizations and institutions such as government and...
that tracks, records, analyzes and interprets the economic changes that take place in a society. It could include anything from personal finance
Personal finance
Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. It addresses the ways in which individuals or families obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future...
, to business at the local market and shopping mall
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
s, to the performance of well-known and not-so-well-known companies
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
.
This form of journalism covers news and features articles
Article (publishing)
An article is a written work published in a print or electronic medium. It may be for the purpose of propagating the news, research results, academic analysis or debate.-News articles:...
about people, places and issues related to the field of business
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
. Most newspapers, magazines, radio, and television news shows carry a business segment. However, detailed and in depth business journalism can be found in publications, radio, and television channels dedicated specifically to business and financial journalism.
Business journalism began as early as the Middle Ages
Middle Ages
The Middle Ages is a periodization of European history from the 5th century to the 15th century. The Middle Ages follows the fall of the Western Roman Empire in 476 and precedes the Early Modern Era. It is the middle period of a three-period division of Western history: Classic, Medieval and Modern...
, to help well-known trading families communicate with each other. In 1882 Charles Dow
Charles Dow
Charles Henry Dow was an American journalist who co-founded Dow Jones & Company with Edward Jones and Charles Bergstresser....
, Edward Jones
Edward Jones
Edward, Eddie, or Ed Jones is the name of:Finance* Edward Jones , co-founder of Dow Jones & Company* Edward D. Jones , investment banker** Edward Jones Investments, company founded by Edward D. Jones...
and Charles Bergstresser begin a wire service that delivered news to investment houses along Wall Street. And in 1889 The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
began publishing. While the famous muckraking journalist Ida Tarbell did not consider herself to be a business reporter, her reporting and writing about the Standard Oil Co.
Standard Oil
Standard Oil was a predominant American integrated oil producing, transporting, refining, and marketing company. Established in 1870 as a corporation in Ohio, it was the largest oil refiner in the world and operated as a major company trust and was one of the world's first and largest multinational...
in 1902 provided the template for how thousands of business journalists have covered companies ever since. Business coverage gained prominence in the 1990s, with wider investment in the stock market
Stock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
. The Wall Street Journal is one prominent example of business journalism, and is among the United States of America
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
's top newspapers in terms of both circulation
Newspaper circulation
A newspaper's circulation is the number of copies it distributes on an average day. Circulation is one of the principal factors used to set advertising rates. Circulation is not always the same as copies sold, often called paid circulation, since some newspapers are distributed without cost to the...
and respect for the journalist
Journalist
A journalist collects and distributes news and other information. A journalist's work is referred to as journalism.A reporter is a type of journalist who researchs, writes, and reports on information to be presented in mass media, including print media , electronic media , and digital media A...
s whose work appears there.
A journalist who works in this branch is considered a business journalist. Their main purpose is gathering information about current events in the economic life of the country. They may also cover processes, trends, consequences, and important people, in business and disseminate their work through all types of mass media.
Business journalism, although prevalent in most industrialized countries, has a very limited role in Third World
Third World
The term Third World arose during the Cold War to define countries that remained non-aligned with either capitalism and NATO , or communism and the Soviet Union...
and developing countries
Developing country
A developing country, also known as a less-developed country, is a nation with a low level of material well-being. Since no single definition of the term developing country is recognized internationally, the levels of development may vary widely within so-called developing countries...
. This leaves those citizens in a very disadvantaged position locally and internationally. Recent efforts to bring business media to these countries have proven to be worthwhile.
See also
- Gerald Loeb AwardGerald Loeb AwardThe Gerald Loeb Award, also referred to as the Gerald Loeb Award for Distinguished Business and Financial Journalism, is a recognition of excellence in journalism, especially in the fields of business, finance and the economy. The award was established in 1957 by Gerald Loeb, a founding partner of...
- ForbesForbesForbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
- Financial TimesFinancial TimesThe Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
- Nihon Keizai Shinbun
- Weekend City Press Review