Podcast
Questions and Answers
What are two important tasks a reporter must complete in order to obtain reliable sources?
What are two important tasks a reporter must complete in order to obtain reliable sources?
Do your homework and learn what motivates business people.
Why is it crucial for reporters to find independent sources when researching stories?
Why is it crucial for reporters to find independent sources when researching stories?
Independent sources help ensure that the information is not biased or self-serving.
What is the significance of analyzing numbers for a business reporter?
What is the significance of analyzing numbers for a business reporter?
Analyzing numbers allows reporters to verify the truth and uncover potential lies, such as the statistic that a third of CEOs lie to the media.
How can introducing human elements enhance a business story?
How can introducing human elements enhance a business story?
What role does a broker play in financial transactions?
What role does a broker play in financial transactions?
List two types of subjects that a business reporter might cover.
List two types of subjects that a business reporter might cover.
Differentiate between capital expenditure and capital market.
Differentiate between capital expenditure and capital market.
Explain the purpose of collateral security in loan agreements.
Explain the purpose of collateral security in loan agreements.
What should a reporter note when quoting a source?
What should a reporter note when quoting a source?
What does depreciation indicate in economic terms?
What does depreciation indicate in economic terms?
What is the balance of payments?
What is the balance of payments?
Why must reporters be cautious about the sources they choose?
Why must reporters be cautious about the sources they choose?
What is devaluation and how does it affect currency?
What is devaluation and how does it affect currency?
How does a mixed economy differ from purely capitalist or socialist economies?
How does a mixed economy differ from purely capitalist or socialist economies?
What is value added tax and its significance?
What is value added tax and its significance?
Why is it important for journalists to avoid economic jargon?
Why is it important for journalists to avoid economic jargon?
What are the essential attributes of a good business reporter in relation to numerical data?
What are the essential attributes of a good business reporter in relation to numerical data?
Explain the significance of objectivity in business reporting.
Explain the significance of objectivity in business reporting.
Identify two types of companies and explain a challenge reporters face when covering privately held companies.
Identify two types of companies and explain a challenge reporters face when covering privately held companies.
Name three sources of information a business reporter might use.
Name three sources of information a business reporter might use.
What barriers might reporters encounter when trying to cultivate sources in the business sector?
What barriers might reporters encounter when trying to cultivate sources in the business sector?
Discuss the role of physical sources in local business reporting.
Discuss the role of physical sources in local business reporting.
Why is competition a prominent factor in the secrecy of business information?
Why is competition a prominent factor in the secrecy of business information?
Describe the complexity involved in the job of a business reporter compared to other journalists.
Describe the complexity involved in the job of a business reporter compared to other journalists.
What is the primary focus when reporting on a budget according to the basic guidelines?
What is the primary focus when reporting on a budget according to the basic guidelines?
How does inflation affect the interpretation of budget figures?
How does inflation affect the interpretation of budget figures?
What effect do regressive taxes have on different income segments?
What effect do regressive taxes have on different income segments?
What should journalists do throughout the budget year?
What should journalists do throughout the budget year?
Why is it important to keep contact with various organizations during budget reporting?
Why is it important to keep contact with various organizations during budget reporting?
What are the two primary rubrics mentioned for putting a human face on budget figures?
What are the two primary rubrics mentioned for putting a human face on budget figures?
How can the effects of consumption taxes like VAT favor the wealthy?
How can the effects of consumption taxes like VAT favor the wealthy?
What is the role of international organizations in budget reporting?
What is the role of international organizations in budget reporting?
What role does an investigative reporter play when analyzing a budget?
What role does an investigative reporter play when analyzing a budget?
Why is it important to include local and international organizations in budget analysis?
Why is it important to include local and international organizations in budget analysis?
How can a budget analyst make large budget figures more digestible for the general audience?
How can a budget analyst make large budget figures more digestible for the general audience?
What is a 'sin tax' and how might it engage an audience when discussing the budget?
What is a 'sin tax' and how might it engage an audience when discussing the budget?
What is the significance of including a family example when discussing budget impacts?
What is the significance of including a family example when discussing budget impacts?
Why should budget reports consider opinions from civil society groups?
Why should budget reports consider opinions from civil society groups?
What approach should a reporter take to maintain a reader's attention regarding budget discussions?
What approach should a reporter take to maintain a reader's attention regarding budget discussions?
How does context affect the interpretation of budget figures in media reports?
How does context affect the interpretation of budget figures in media reports?
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Study Notes
Business Reporting Overview
- Business reporters cover a variety of topics including store openings, expansions, closings, real estate transactions, new products, construction projects, layoffs, and economic reports.
- Understanding local and national budgets is also essential for business reporting.
Attributes of a Good Business Reporter
- Must be comfortable with numbers and economic jargon, able to analyze complex reports.
- Objectivity is crucial, balancing expertise in finance with broader knowledge to connect various subjects.
- Strong analytical skills are necessary to sift through data, as many executives may withhold information.
Information Sources
- Business reporters face challenges accessing information due to the secretive nature of the business world.
- Important contacts include bank officers, union leaders, financial analysts, academics, and government ministries.
- Distinction between publicly held companies (owned by investors) and privately held companies (controlled by small groups, making information harder to obtain).
Cultivating Sources
- Building trust with sources is critical; preparation and understanding of business motivations are essential.
- Intelligent questioning strengthens relationships with sources.
- Background information must be credible and independent from conflicts of interest.
Importance of Numbers
- Qualitative studies dominate journalism; however, business reporting relies heavily on quantitative analysis.
- Skepticism is necessary as studies indicate a significant number of CEOs may mislead the media.
Human Element in Reporting
- Integrating human interest stories can make complex business topics relatable and engaging for readers.
- Anecdotes and personal stories help ground statistical information.
Reporting Subjects
- Business reporters cover a wide array of topics, including labor-management relations if no specific labor reporter is available.
- Staying informed about local trends is critical for relevant reporting.
Key Business Terminologies
- Balance of Payments: Difference between total payments into and out of a country.
- Broker: Intermediary in transactions, especially in stock.
- Capital Expenditure: Amount spent to acquire an asset.
- Depreciation: Decline in asset values.
- Mixed Economy: Combination of capitalist and socialist characteristics.
Practical Reporting Tips
- Avoid economic jargon; use simple language to explain complex economic concepts.
- Provide clear comparisons in budget reporting, highlighting sources of revenue and expenditures.
- Report consistently on the budget throughout the year for a comprehensive view.
General Reporting Principles
- Treat budget documents like investigative reports, extracting impactful data affecting communities.
- Engage with various stakeholders, including civil society, to understand wider implications.
- Present budget figures in digestible formats, emphasizing relatable impacts, such as taxes on families.
Engaging Reporting Strategies
- Contextualize large financial figures with relatable examples to maintain reader interest.
- Make the implications of budgets concrete through storytelling and real-life consequences of fiscal decisions.
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