COM-436 Lecture Notes - Lecture 7: Profit Motive, Customer Relationship Management, Pew Research Center
29 Nov 2016
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Document Summary
Capitalism: (cid:498)an economic and political system in which a country"s trade and industry are controlled by private owners for profit, rather than by the state. (cid:499) Quandary: one who is motivated by self-interest cannot behave ethically, there is nothing inherently immoral in the profit motive or the accumulation of wealth, how to balance economics pressures against the individual or institutional duties to others. Economic pressure typically comes from three sources: financial supporters, such as investors, advertisers, clients, subscribers, and customers, the competition, the public at large. Media generated profits mostly through advertising not their customers; Constitutional protection: servants of the public interest that transcends. 1930: 84% of nations newspapers were independent. 2000: 20% of nations newspapers were independent: fewer media outlets are now around, this is bad because there will be less view points/ certain biases, leads to propaganda. Even in media, all departments must contribute to the financial success of the organization.
