How might the news affect businesses?
John Ferguson is the head of Economist Impact's globalisation, trade and finance practice. This means that he has a lot of experience working with businesses from different industries.
John has just got back from Davos – a town in Switzerland where nearly 3,000 business experts and leaders from 120 countries came together for the World Economic Forum. They discussed a wide range of topics including global cooperation, economic growth, AI development and the climate crisis.
Watch the video to hear what John learnt at Davos.
Video not working? follow this link: https://vimeo.com/909066857/53b03c2914
John shared some of his ideas about news stories that might affect businesses in 2024.
What other news stories might affect businesses? How? For example, what problems might they have to overcome?
We are particularly interested to hear about anything happening locally that’s affecting businesses near you.
Comments (78)
Hello.
Due to the wars happening near the Middle Eastern countries, the situation with large businesses is extremely complicated and businesses are caught in an unstable condition, which negatively impacts it's development. Also, the restrictions on the importation of imports, as well as the export of the products led to a decline in the GDP (Gross Domestic Products), causing the rate of an increase in the international currency and lower incomes..
Even if wars occur far from countries, any business will suffer. For instance, Europe waits for a long duration of time for the delivery of products from Asian countries, because of the unstable situations in the Red Sea and the Suez Canal, since the commercial ships travel around Africa (though the Cape Of Good Road), and not as previously through the Suez Canal, this has led to an increase in transportation costs, respectively an increase in the prices for the products..
Businesses fold up or lose customers in a country because of wars in those countries. Fraud and high cost of production also cause these things. Pandemics and national lockdowns also negatively affect businesses. For example, the Covid-19 pandemic which caused social distancing and restriction to movement affected businesses as customers couldn't move to buy their products and they could not move to deliver their goods.
Even AI may negatively affect some businesses. For example, accountants may lose their jobs to AI as they are more accurate and monotonous. Some vehicle assemblers and drivers may also lose their jobs to AI.
I see eye to eye with you on this subject owing to the fact that the stability of a Country affects the activities of people. If a country is not safe, a business cant be safe. If there are insecurities like wars, killings and etc. A business will not last long in a country. For example Nigeria, back then, there were over seven countries that
have packed out because of insecurities and wars. Other factors that can lead to a business collapsing or packing out can be high energy cost, slow down in industrial output, a sluggish demand for products, multiple taxation and etc. If a country wants to keep their businesses then they have to enact ways on conserving their resources. There should not be over dependence on a particular resource, there should be proper pricing of resources and etc. There are so many ways in which a ountry can use to keep businesses. Because if a business should notice that consumers are losing interest, or there are not enough resources to use for production, the businesses either pack out or fold up.
There has been a lot of insecurity in NIgeria,
And then it is affecting businesses, the threats laid by security problems cannot be over emphasized, they range from killings to kidnapping to bombing of malls and different other business organizations.
> Firstly, people are folding businesses and travelling out of the country because of this issue of killings, everybody wants a safe and conducive environment to stay and indulge in business, but unfortunately Nigeria is unable to provide that for its people. Recently an employee of a big company was abducted while driving, and the ransom that was asked for nearly sent the business into bankruptcy, in a case like this nobody would still like to continue to do business in such a dangerous environment. This could lead to real economy failure.
>The part that gets me angry the most is the fact that government watches all these things happen and they are act so cool about it, nothing is being done. The are having fun watching that the Nigerian economy is falling with the speed of light and then innocent people are dying for no specific reason.
>Secondly, Many Nigerian citizens are expressing helplessness to the insecurity, it saddens everyone to hear that the very productive Nigeria we used to know is no more. People are unable carry out day to day activities without being scared of losing their lives.
My question is, are the armed forces losing Ideas to protect us? or is our government getting frustrated due lack of people's appreciation, but fact is what are we supposed to appreciate when the rate of retrogression is far more that the progress made.
The simple answer is corruption and incompetency. I say this because in my opinion, the government is incompetent and does not live up to what they are expected to do and in this way, it also crashes with businesses because their would be no laws guiding the productivity and development of the business leading to unproductivity and instability of such businesses. On the other hand, they citizens themselves are corrupted, therefore corrupting others which might affect their businesses.
Businesses around me are mostly affected by the increase in cost of production. Sometimes businesses close down because they just can't keep up. Other businesses hike up the prices but reduce the amount in order to make profit. This is really frowned upon by the consumers because they feel that their money is going to waste. This will cause the business to lose customers. The economy will slowly deteriorate because business owners can't really keep up. Yet everyone is trying to make profit for their businesses. This is a really big disadvantage especially to the smaller businesses as their operations won't really generate as much profit as the bigger businesses. This is a really big problem in my country and it will really affect the general economy of the country if not taken care of.
I agree because.. In Nigeria, the crisis we are facing in Nigeria is the price of goods the quantity and the quality of our goods.
because most businesses are increasing the price of goods drastically. and if you want quality goods you won't get quantity. And in this situation, prices will keep rising so the problem we have to overcome is to increase the quantity
of quality products in Nigeria.
Thank you.
This is true, in Nigeria, prices of goods are increasing by the day, and it makes the cost of living more expensive. Everyone is struggling now. Businesses struggle to make profit and so increase the price of goods, which means that people from the lower and middle class struggle to pay for these goods that they need. The economy of the country is slowly deteriorating as the exchange rate of the Nigerian Naira to currencies such as US Dollar, Euro and Pounds sterling increases.
The solution here lies in the government. The government needs to realize the direness of our economic situation and work towards turning it around. But they can't do it alone. We the people have to help them. We voted them, we picked them, so it would not be right to sit down complaining and blaming the government for everything without trying to make a difference. Even if we didn't vote for the particular candidate ruling, what's done is done. We need to face reality and start trying to solve problems that affect us all. We can arrange peaceful protests and rallies or talks with government officials, to do something about this. We all need to work together to build Nigeria back to what it once was. Change begins with us.
I'm not sure about this because... as a global business company, you have branches in so many countries that supplies money for you at intervals, don't you think that you can make up your loss with the money that your co operators are making for you so does that mean that you should quite your business because of your loss in the business?
What you are saying is true but let's not look at the global businesses, let's look at the smaller, sloe ownership businesses. These businesses take the biggest hit. A large business, like you said will be able to make up for their losses through other branches but a smaller business has no branches. The increase in cost of production will cause making quality products and still making profit nearly impossible. This is one of the reasons that so many businesses are folding up and leaving a lot of people without jobs here and there. Big businesses may be able to utilize their vast connections in other locations but smaller businesses will just have to close down or find a way to cope in the harsh economy.
I think that the problem which will affect the business is inflation. The value to money is decreasing day by day, so we have to buy our daily necessary product at a high price. Business is also suffering due to increasing price of materials. The economy may fall if it continues. Many businesses are closing due to this which result the increasing number of jobless people. Different social anarchy also prevails in the society. When the business owner increases the price of the product to get profit, then people don't want to buy any product which result in the loss of the business. In Bangladesh we are already facing the effect of inflation and price hike.
I understand your concerns about inflation and its impact on businesses joyous_piano.
It's true that when the value of money decreases, it can lead to higher prices for daily necessities and materials, which can be challenging for businesses and consumers alike. The economy can be affected, leading to job losses and social unrest. When businesses increase prices to maintain profits, it can deter people from buying their products, resulting in losses for the business. It's unfortunate that Bangladesh is already experiencing the effects of inflation and price hikes. It's important for governments and businesses to work together to find solutions that can stabilize the economy and ensure affordability for everyone.
I agree because... People are always looking for places with affordable prices to buy at. Once they find a place with cheaper items, they are going to share the news with anyone they know shops there or wants to shop there. Once this happens, most of the customers would move to the other store to shop. I am not saying this is the owner's fault because he/she decided to sell it with that price. People are just trying to find places which would give them the chance to save a few bucks.
Yes, I agree with you because in my locality , most businesses are also àffected by the increase in cost of production too. Most businesses like you have said close because they cannot keep up with the increase of things and because of that, they tend to loose a lot of customers which is so bad because ,that may be their only source of livelihood which they get income from to provide for themselves and their families. This can also be terrible for customers because the cost of living and things will become too expensive and the little money they normally use to buy a lot of items will now become irreverent in the society. People, Will also have to work a lot in other to get much more money to buy items that they can afford to sustain them. This is a really big problem as you have said and can affect everyone generally in the society.
Hello
I agree because... Every products increase their own price increase par year month . So companies have to increase their money through increasing their own price , if not they might get loss in their business . Even though their costumes get angry and feel that their money is at waste after they're buying what is important to them.
I think that business owners will be affected positively by hearing the news because they will be able to determine price of goods,know when new products are coming to their country,be able to know the possible means to transport their goods. The news will help customers to also know about trafficked spoilt goods and will also help them to know the prices of goods and help to avoid cheating. News will give sellers valid news on how to sell goods and services.
I would disagree with you on this. Personally I believe that the news would hinder business because even though it may help them determine price, it may also lead to negativity around a product. Some brands like Shein and Temu for instance, face a lot of backlash by the media, which in some instannces acts more like free advertisig for their brand however it also shows all of the negative aspects of the companies.
I think the news helps display more of the negative aspects of a business than helping them expand it and improve their products.
I'm not too sure about this. News will do more good than harm actually even though it can do a lot of harm. Though a business can be condemned by the news, it can also be saved by the news. Businesses which were going bankrupt have been saved by simply advertising on social media to get the attention of the masses. Businesses that face a lot of backlash must've done something negative or bad right? Unless if there are fake rumors being spread everything will come from the fault of the business. If the negative news is authentic then that means the news is actually helping people by giving them information about the business that could be dangerous. But even though the news condemns businesses, it helps the masses to know about what they are spending their money on. News can be used as a tool to grow businesses through advertisement. News is a really powerful tool so it should be used cautiously. Showing the negative sides of things is actually a bad feature but we can't deny the fact that the good features override the bad ones. A lot of companies and businesses have grown over the years through advertisement on social media or even billboards. Contrary to what you said, i believe that news helps to promote businesses and inform the consumers more than displaying the negative aspects of the businesses.
Hi,
The news can have a big impact on businesses, especially in times of uncertainty and change. For example, if the news reports that the economy is slowing down, consumers might be more cautious about spending money and businesses might face lower demand for their products or services. On the other hand, if the news reports that a new innovation or opportunity is emerging, businesses might be more optimistic and willing to invest in growth and development. The news can also affect businesses' reputation, trust, and social responsibility. For example, if the news exposes a scandal or a wrongdoing by a business, it might damage its image and lose customers or partners. On the other hand, if the news praises a business for its achievements or contributions, it might boost its brand and attract more supporters or collaborators. Therefore, businesses need to pay attention to the news and how it might affect their operations, strategies, and goals.
I agree the news would have a big impact on businesses these impact can be negative or positive depending on the way you look at it. For example in a case where there is news about the sale of expired goods this news would help businesses to be more conscious about the goods they sell and it would also help buyers to be more observant about the goods the buy. News can help in advertising a business by saying good things about the business, it can also condemn a business if the business is found doing contrary to what it is supposed to do. This is one of the ways news can affect businesses.
Hi,
When I think about news and businesses what comes to mind are positive and negative in the aspect of it. I was recently thought an acronym for a business's success rate which is SWOT (Strength, Weaknesses, Opportunities and Threats) this helps me to perfectly understand the way businesses relates with news.
-Strengths: When businesses watch news, they get to know which places where they can find assets helping that business to take these chances and excel.
-Weaknesses: When the businesses hear news, they know whether they are in a position of weakness or not by frequent watching of analysis of other opposing businesses.
-Opportunities: Businesses use news as a chance to get to know about things they can do to make their business prosper. They get to know environments where they can run their business.
-Threats: They get to know about things that can oppose to their business and so that they can handle it.
A good example of the perfect application of these qualities is the Soft Drink Distributorship which noticed the environment in Nigeria that they did not have any and took action and established one, choosing a specific location where they can get profit.
News plays a very fundamental role in businesses, and I think that businesses cannot do without news.
THANKYOU.
Businesses are really affected by news and what is happening in their area. For example, in 2020 there was a global pandemic and that pandemic made some businesses in my area shut down. During that time, businesses could not get any money because no one was buying anything from them. Another example is if something horrible happened at that business and it makes it on the news, that business will be known as a dangerous place. People will not buy from them and they will eventually have to shut down.
Businesses are getting harder to run in Nigeria because the Naira our currency has lost so much value against the dollar. It was 990 Naira last year August and now it is 1,450naira. The reason why this is affecting us so badly is because most of the things we buy are not from our country they are from abroad because we do not manufacture a lot of things presently. Also lot of multinationals are leaving because of the difficulties they are facing in the Nigerian markets. Companies like GSK, Procter and Gamble, Unilever, jumia foods, bolt foods and Sanofi Aventis are leaving. This will cause lots of unemployment in addition to the economic difficulties were facing and then there is the removal of fuel subsidy. Petrol was 190 Naira now it is 760naira making transportation cost increase. Everybody is complaining about the economic hardship.
You include a lot of evidence here. Where did you find your information? Can you think of what the impact might be of these businesses leaving Nigeria?
Nigeria already has a wobbly economy. This is because most of the businesses are not indigenous. This means that if these businesses decide to leave, the entire economy will have a really hard time coping. But in the long run, this will actually benefit the economy. The fact that Nigeria depends on a lot of foreign companies is really not an advantage. But if most of them leave, the indigenous people will have to start producing the goods themselves. This will give us a high level of independence and will also develop our economy and improve the standard of living. When we are able to generate our own products and brands, we will be able to earn revenue for the country and maybe some of the new companies could even go international and build other branches in other countries.
Hi,
The news of businesses leaving Nigeria has a negative and devastating impact. These businesses employed many citizens and their departure can increase unemployment and crime. Moreover, these businesses offered quality products and their absence can allow low-quality products to flood the market. Therefore, the news can affect businesses in various ways, both positive and negative. However, there are other factors that influence businesses in a country, such as population, production cost, labor force, exchange rate, and availability of basic necessities like electricity. Businesses need the news to function well, because information is the key to success.
I found my information on the news online. It is on most of the Nigerian News papers. I think when multinationals leave the people working in their factories will loose their jobs. Also the wholesalers and retailers of their products will also loose their jobs. If the stop making the products here and start importing the products the products will be more expensive too.
It's concerning to see the news about multinationals possibly leaving. If they go, it's not just the factory workers; even the retailers and wholesalers will be affected badly. Things are already getting expensive everyone. It's really worrying. I mean, if these companies leave, it's not just about job losses, Even the local stores and businesses that rely on them will suffer. It's like a chain reaction on the economy.
An International business generating revenue from around the globe usually faces problems due to the geopolitical relations of different countries that might cause a hinderance to them. I very recently came across an example about the same, recently there have been growing tensions between India and Maldives due to some derogatory marks made by the later on India, in response the Indian citizens decided to cancel their plans to visit Maldives, which is a tourism based economy, the point to be noted here is that due to the tensions between the 2 countries the loss was bore by the hotel businesses of Maldives as well as the travelling businesses of of India making it the perfect example of how news can effect business.
Thanks for using an example to back up your opinion. Where did you find this information?
yes ,this information is based on the OFFICIAL STATEMENT released by Ms. Arshdeep Anand, executive member of Outbound Tour Operators Association of India who stated that the Maldives might have seen up to 8000 hotel booking cancelations from India.
The news affects businesses by talking about Russia declaring war with Ukraine on the news. The war has been going on for about 2 years already. This negative news will make businesses leave that certain part of the country because of the war. The news will affect businesses because if the news says something really negative then the businesses will shut down COMPLETELY. If businesses will shut down (like if Amazon shuts down) then the people that are living in countries will be very angry about not having Amazon. Then there will be no happiness or joy around the world for that. These are my reasons why the news can affect businesses.
OK so elections are a n enormous factor to consider when talking about factors affecting business locally as well as nationally in India. If we take my city for example , if elections are near the political parties are starting to do public welfare , while this process the public is happy but the businesses are unhappy as while this sudden development many roads are dug reducing the business of businesses . But when elections are not nearby no political party is doing anything if roads were dug and not filled till next elections they won't be constructed properly damaging high % of sales of that region . Also this increase in construction during elections this year was high during the elections. Many new drainage pipelines , underground metro , over bridges were built, almost destroying many businesses .
But
National elections are preferred by companies. At this moment the companies get third party profits .
Here India if any business is criticized over media this means it is game over for the business because as a base of over 100 crore media users news bad or good regarding a particular business can be highly impactful. for example Adani group of companies was one the leading companies in world but due to one false article they lost crore and of money and customer base.
In Nigeria, a major news story affecting businesses was the theft of over 1 trillion naira by the former CBN governor, who managed the nation's money. This led to a nationwide cash shortage known as the Cashless policy. Many businesses struggled because people had no money to buy their products or services, causing a loss of income. Some businesses even faced closure. When money became scarce, businesses had to raise prices to recover losses, which hurt people who couldn't fully recoup their lost money. This incident shows how corruption can harm businesses and the economy, impacting people's livelihoods.
I would have loved to agree with this comment but I would love you to throw more light to this question. Do you mean that the covid 19 pandemic cursed the shortage of businesses or that it stopped the businesses which made so many people to loss their businesses and for employee to loss their jobs?
A particular news story that might affect businesses is covid-19 coming back. I am aware that it never left, however cases decreased around the end of 2022-2023. Seeing as businesses just got their popularity back and running, it's very hard to see it all go down again. They're going to have to overcome the supply and demand (as businesses aren't able to provide much services because of shortages of certain products/items) This can affect the businesses horribly since they're losing profit/money each year.
News stories can affect businesses both positively and negatively.
The news is a primary source and many people follow behind it. So for example when Covid-19 occurred and was told to the news, many followed and quarantined like the news instructed. Also like how products get put on recall, it reduces the amount sold because now people know that the product is not safe. Lots of businesses for example going back to covid-19, all sanitary businesses gained lots of profit because now people really needed those items for example hand sanitizer, toilet tissue, and wipes. As for businesses like lawn darts, there were reports on the news that people were getting stabbed by the lawn darts. Due to the news reporting that, people stopped buying the lawn darts which then later got it banned. This shows that the news can affect businesses positively and negatively.
I agree because...i believe news can affect businesses in both positive and negative ways, depending on how it's shared. For instance, during a crisis in an area where a business operates, being aware of the situation can help the owner adjust production to meet demand, leading to increased profits. However, if news of a crisis spreads, it may cause panic among people, leading to disruptions like looting or decreased sales. Therefore, while news can provide valuable information for businesses to adapt and thrive, it can also create challenges if not managed properly. It's important for businesses to stay informed and react appropriately to news events, balancing the potential benefits and risks. By understanding the impact of news, businesses can better navigate changing circumstances and ensure their long-term success.
I agree because... In my neighborhood, insecurity affects businesses differently. For instance, local bakeries and restaurants benefit because people prefer staying close and their demand increases. However, businesses from neighboring areas hesitate to come in due to safety concerns, fearing harm or loss. This affects our local market and profits, creating a mixed situation. Some businesses in our state benefit, while others struggle to go out and buy goods. It's like a balancing act where some win and some lose.
Some news stands as a liability for businesses, which are the exposing news articles which sometimes give false information to damage the reputation of the business. News can also promote business' success, as sometimes on the news celebrities say good things about the product of the business. News can actually be useful to people not on the account of fake news, but if there are harmful chemicals in the product, news journalists warn people about the product with true and believable information about the product.
Price has been a problem in business in Nigeria.
So many business in Nigeria are feeling insecured due to increase in cost of production . increase in the operating expenses has become inevitable. Particularly diesel and petrol,rents and employee wage.when they is an increase in price transportation cost rise,the rate at which we purchase goods will rise,and this will affect worker and student.especially to low income individual ,who are struggling to make ends.
So many worker who have car can no longer use them, because of the price of fuel and scarcity.
I would suggest the Nigeria government create more refinery to produce the goods, because Nigeria is blessed with natural resources.they will spend less on importing when the produce in their country.and it will also produce job opportunities for the unemployed.
I think that news definitely affect businesses either locally or worldwide. Naturals disasters can lead to the close of some businesses for some period. That happened to us because of flooding and that happened worldwide because of covid. In general the risk of public health can affect companies but need also about the comic situation and how price are formed can also influence them.
Very good examples of climate disasters and the Covid-19 pandemic and how these influence global business. Can you give an example of a particular news story that you know affected businesses?
One particular news story that affected my country was the war between Russia and Ukraine. The price of gas increased tremendously when Russia started the war as we mostly depend on the gas that this country gives us.
Since the growth of diseases like COVID 19 may make it difficult for many doctors to treat patients and for patients to attend hospitals, I think this could have an effect on business. A public health emergency brought on by a disease outbreak will unavoidably affect business, with a stay at home for example and a low turnout of people in public events and places, the funds in circulation will be greatly reduced. A further way that news could affect businesses is if, for example, petrol prices have gone up and customers find it more difficult to travel between locations due to the scarcity.
I disagree because if you were to be the owner of a company you will have an online means of communication with other company,s , with the use for apps like facebook , instagram and telegram and we all know telegram as one of the most rated business app in the world , so even at the comfort zone of your room you can still do your business so saying that news will affect businesses i don't think i will agree with that .
Yes you are right these two major events have affected to a very large extent businesses negatively. But in my opinion some companies have increased their profit during this period because there was a big demand for specific products. For example, chemists during the pandemic have gained a lot of profit.
The news can affect business in many ways, both positively and negatively. Some examples of positive effects include increased interest in certain industries or events, leading to increased sales or revenue. For example, a natural disaster such as a hurricane can result in increased demand for construction and disaster relief services. On the other hand, negative effects could include reduced consumer confidence or purchasing power, increased costs, and disruptions to supply chains. For example, a pandemic like COVID-19 outbreak.. It had reduced consumer spending, decreased demand for certain goods and services, and disruptions to supply chains. In order to overcome any challenges that may arise, businesses must be prepared to adjust their operations and strategies quickly and effectively to meet the ever-changing needs of their customers and the market.
The influence the news has is very concerning. The news could put out a business even if the news is popular but non reliable. Many people fall for fake news and fake news spreads rumors about business and even people. This could put businesses out of business and could affect not just the business but the people who support the business and the people who made it. So Yes, I believe that the news could affect businesses.
Hello romantic orange, I do agree with you when it comes to how much influence the news has on the public and how this can cause major concern. I would like to elaborate on your points already made. First of all, I believe that businesses can be severely affected by what the news and media is saying about them, whether that be direct or indirect. Many businesses thrive off of the online world, such as through advertisements and websites, but the online world could also affect businesses in a very negative way. One way that this could occur is through misinformation and disinformation. In most cases, if any fake news were to be spread it would most likely be misinformation when it comes to major news broadcasting channels and companies. However, we must also consider how on the platforms, such as social media, more disinformation can be shared. When it comes to social media, it is very easy for things to spread quickly, especially if it's likely to cause confusion or arguments. Personally, I'm not sure as to why people would share disinformation, but I'm assuming it may be for a reaction or fame. However, we must understand that this is certainly not right and should never occur.
Leading on from this, through the spread of misinformation and disinformation, businesses can be negatively affected and possibly shut down if any outrage were to be caused. As you have previously said, this would not just affect the business itself but then workers, customers and many more who may be somehow connected to the business. Therefore, as romantic orange has said, news can affect businesses in both a negative and positive way.
The only thing I can think of which is affecting the business locally is "competition". As there are numerous companies in the market and each one of them is trying to get in front of the other, the local businessmen are afraid to jump in this chaos. While if we look at this competition thing from the other side than in one way it is also god as all the companies are trying to make their products better than others.
Yes, the competition between companies often results in creating a greater product. All businessmen wish to sell as many things as possible, in order to get a profit. When their sales start slowing down, they analyse and think about how they could improve their products, so more people would buy them. I believe that this is very positive, because it guarantees clients that efforts are constantly being made, for them to benefit from high quality. If the competition didn't exist, the businessmen would have been pleased with the same product for long periods of time, and not wishing to bring any improvement to it. That's because their clients wouldn't know the difference, or they wouldn't have from where else to buy. Thankfully, that isn't the case. I believe that while it may be pretty stressful, always searching for innovative solutions to different problems is incredibly useful for society. Sometimes, this competition can be a source of inspiration. I would even say motivation. When seeing that others are working hard and maybe even got further than you, it could actually be enough to get you back to work. Personally, I am feeling more motivated when others around me are being productive. It feels contagious, but in a good way.
John predicted that the intensification of climate change regulations would have a significant impact on businesses in 2024, requiring many to adapt to stricter environmental standards. Additionally, the ongoing technological shifts towards artificial intelligence could disrupt traditional business models, forcing companies to innovate or face obsolescence. Locally, the construction of a major new transportation hub is expected to affect businesses by altering traffic patterns and consumer accessibility, potentially benefiting retailers but challenging logistics-dependent companies. Furthermore, a rise in local minimum wage legislation may squeeze margins for small businesses, compelling them to adjust their operations and pricing strategies. Lastly, the uncertainty surrounding post-pandemic economic recovery trajectories might strain businesses as they navigate fluctuating consumer demands and potential supply chain disruptions.
One major factor affecting businesses is trust. Trust leads to steady progress, while a lack of trust is a big problem. Trust means believing in someone or something without doubt. It's crucial for business because it's not just about making money; it's also about meeting customers' needs. Without enough trust, businesses struggle. Customers won't feel confident buying from them, and the business won't grow. Building trust is important for any business to succeed. It's like the foundation of a house – without it, everything else can fall apart. So, businesses need to work hard to earn and keep people's trust. That way, they can thrive and make a positive impact in their community.
@happy_mulberry you make a good point. What ways can a business build trust with it's customers ?
I think the major way that a business can build trust in customers is by being transparent and open to customers. Take for example Shop A tells its customers that they are having free Wi-Fi but it is false. The Shop A will attract more customers which is not bad but when the customers come and the find out that that what just a trick, the get disappointed and they will leave the company which will result in loss in customers even more than it was loosing before. But if the business is transparent in its operations, the customers will come based on the company's abilities and they will not expect anything more when the arrive.
Another example of being transparent is in pricing, when a business is saying the truth about its prices and not over-inflating its prices, it tends to attract more customers just as the law of demand say "The lower the price, the higher the quantity that will be demanded, vice verse, all things being equal."
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The news sometimes affects businesses badly, for example I own a restaurant, and then A health inspector came and found out nothing bad, but he was not amused with the service and at the end he decided to publish a news saying that my restaurant was poor in service and people agreed with it and stopped coming,so, with the lack of costumers and money I couldn’t pay the people I employed and sadly the staffs started quitting one by one, so I had no choice but to close down the restaurant, so that’s one of the ways that news can effect your job/business.
Hello prominent people of these times.
There are several news stories that can affect businesses but I would love to talk about a particular one in my country which is hyperinflation. Nowadays, materials and other food items are highly expensive and with a small quality. Although the price increases, the amount is like thrice smaller than the normal amount during the times of low inflation. Mostly, people who sell in the market are affected by this because customers always complain of the high sales of their items. In these hard times too, the salary of the people who will buy the items is not also increase and they will have to manage the small amount of money they have in these times. Sometimes too, other accidents clash with their schedule. For example, their children’s shoe got spoilt and they have to use this small money to repair it. In this case, people want to manage their salary so they buy few things from the vendors to manage at home which causes the business of the vendors move slower.
Hello everyone, I feel that news about businesses are there to inform us about the success and progress of such businesses. Also news about businesses will enables individuals and other corporate organizations know the economic and financial standing of such businesses so they can be discerning in choosing the right business for investment purposes.
Hello everyone, I feel that news about businesses are there to inform us about the success and progress of such businesses. Also news about businesses will enables individuals and other corporate organizations to know the financial and economic situation of such businesses to encourage investment. It negative affects businesses that are declining because news sources will post their downturns.
A bad news story can cause plummeting stock prices, destroy the reputation of a business, or cause unreasonable customer expectations. Unethical businesses can also generate fake news or reviews in order to boost their own stature or profits.
Hi,
I live in 'Bangladesh'. I saw that one of the problems that my business was suffering from was the rising cost of goods. Due to less production and supply of goods and crops, traders are increasing the prices of goods due to which the people of our country are suffering from a big crisis.So, people are buying less goods than before. It has become a big problem for the country's economy. Apart from this, goods are sold less and various traders are closing their business. I think that the business situation in our country is very bad at present.
Thanks.
In first I would like to describe about business , Business is the action of trading goods and service for getting some profit. Business is the platform for making money. Nobody involving in business aspect for loss. Now we all global being know our mother earth is facing wars, conflict and blathering situation all around. War between Russia and Ukraine impact the business of Russia because the main fascinated brand Mc donalds , Starbucks and other leaved Russia . These brands are one of the most liked brand around the people. If the companies left the country then it's their own loss ,customer will be disappointed from the company because they like their facilities and the company leaves hey won't get facility and in other hand if business is linked with politics starts to impact the business.
Why do you think that these businesses chose to leave Russia, steadfast_boysenberry? Do you think they might have considered reasons that are not to do with money or customers?
Maybe they have their own reason but in my perspective business is done for getting profit and profit is earn through customer. If brand like these chose to leave country with their ego or particular reason then customer will be disappointed and similarly they will loose their post on the business sites.
Due to India’s vast diversity, we have been a victim of the discrimination system. The business owners use these cast and religious differences to influence the citizens and make them loyal customers. As the election will be conducted in India in 2024, thus, using religious slogans and mottos, the entrepreneurs can even get the unspoken support of the politician of the respective religion or cast and could further expand their business.
Attack. Strikes have a negative impact on businesses because they cause production to stop, which delays the creation of goods and services and may result in financial difficulties. In the event that the strikes last too long, companies may temporarily close. This is just awful. This is what has the potential to negatively impact business, so we need to address the issues before they become losses. This is the issue that society needs to address and find a solution for.These attempts to protest for rights have been reported in international news, and as a result, the business and its employees suffer financial and economic consequences.
Of course news can affect businesses but to a greater extent the smaller ones. For instance when a natural disaster happens locally small businesses will be affected tremendously but bigger ones can just be affected to one branch they have.
Up until now I haven't heard, at least I, one particular news story that affected so much a big company that in the end was closed. All big companies have the mechanisms and the abilities to overcome obstacles and negative news stories don't touch them in such a detrimental effect.
Yes, I agree with you. Have you ever seen a wildfire? That is the way I view the interplay between the news and business. News can promote or demote a business and the news may affect businesses like the spread of a wildfire, it keeps raging and raging until the business is no more. Like the way, a once booming investment house ran out of business, all that was needed was for the news to indicate that the investment could no longer meet the needs of its customer and within a short time it was over for the company.
Good Day Everyone,
News that may affect businesses is when they promote, demote or review on the product.
Promotion makes the product more popular as all the people who support that news channel or the political party that channel supports, they will definitely be influenced and would want to try the product themselves.
Demotion does the exact opposite as when any news channel demotes any business, the people who support it or it's ideas, will get influenced and wouldn't want to use the product.
Whenever anyone- a celebrity, a news channel or anyone important and responsible reviews any product, all the people who support them will trust them and would go by what they say.
All of these are due to the sense of belongingness and trust that was built when they agreed to the brand's ideas.
Thank You!!
In Georgia there is a lawsuit being pressed against a hospital. the name of the hospital is Southern Regional. they have a lawsuit being pressed against them because they believe that the nurses and doctors at Southern Regional Hospital have not been performing their duties as doctors, nurses, and surgeons. And it does not help that the news portrays the hospital to be a hospital that doesn't treat his patients particularly its African-American individuals with respect. A way that they could overcome this problem is by hiring new nurses doctors and surgeons. That not only know how to do their job but treat others with respect
I think
Several news stories can impact businesses, presenting challenges that organizations may need to overcome. Here are some examples:
Supply Chain Disruptions:
Problem: Issues such as natural disasters, trade disputes, or global crises can disrupt supply chains.
Challenge: Businesses may face challenges in sourcing materials, production delays, and maintaining inventory levels.
Changes in Consumer Behavior:
Problem: Shifts in consumer preferences, influenced by cultural trends or economic conditions.
Challenge: Adapting marketing strategies, product offerings, and customer engagement to align with evolving consumer expectations.
Economic Downturns:
Problem: Economic recessions or downturns can lead to reduced consumer spending.
Challenge: Businesses may need to implement cost-cutting measures, reevaluate marketing budgets, and find innovative ways to maintain revenue.
Technological Disruptions:
Problem: Rapid technological advancements or disruptions in industries.
Challenge: Businesses must adapt to new technologies, update infrastructure, and stay competitive in a rapidly evolving digital landscape.
Regulatory Changes:
Problem: Shifts in regulations or compliance requirements.
Challenge: Companies need to ensure compliance, adjust internal processes, and potentially navigate changes in taxation or industry standards.
I hope these will be good.
Thank you.
In my view, bad news about a specific company or product might have a significant negative impact on it. For example, during the holiday season in some localities, we saw news of a fake soft drinks factory that was uncovered. It was claimed that fake drinks were being made two days before a significant joyful gathering, which affected the purchase of some of the soft drinks and I also believe affected the companies. Since everything fake must be damaging, it seems that finding a technique to halt the production of fake goods would be the solution to this issue.
Last but not least, I believe that if people could stop drinking carbonated drinks which, as of the last time I checked, isn't even healthy and make every effort to drink more natural fruit made into juice which is healthy, it will go a long way with more individuals living healthier lives.
The rising cost of fuel has been a topic of discussion among many in my community. I believe that as fuel prices rise, news will have an impact on businesses. For food, people will struggle and go hungry. As petrol prices rise, more people will turn to charcoal, which will pollute the environment and cause illnesses among people. More trees will be lost if we keep burning charcoal, along with other natural resources.
Hi,
The effect of the news on businesses is great and deeper than you think. The news is what fills people on what is going on in the world and the surrounding around them. And businesses aren't excluded from being talked about in the news, and with that comes a lot of risks and opportunities, things like in cases of bad remarks their reputation could be at stake, customers trust to , ceasing in the purchase of their goods or sales and many other adverse effects, but it can also be an advantage coming from a positive view, If the business is doing well, making good and suitable products and services and on no account have they made a default in respecting their principles and standard, they can gain not only a good reputation but also increase in the patronage of the business, good remarks, sponsorship from already successful firms and people, opportunities, and even a lot of acknowledgement. The news practically shapes the minds of consumers and also their behavior to all the various businesses. Not only that but also news about things happening around the surrounding of where some businesses are stated can also affect that statement. Like for example in my country there was a suspected attack that was expected to happen around a mall and when news got to the people about nobody went around that particular area for a while and I am sure that that affected the business negatively possibly even leading to decline in sales and many other unforeseen circumstances. So the news has a lot of power in relation to news and the image of a business portrayed on the news is the product of its fate.
Thank you!
Hello,
I think that news can affect businesses as when the war between Russia and Ukraine took place McDonalds stopped their businesses in Russia as they didn't want to be seen working in a country that was attacking another country. This would of stopped McDonalds from making allot of money as Russia is a big country. I think that McDonalds did the correct thing but if they didn't they faced the fact that they would make more money but people in different countries might not of liked them for not pulling out of Russia so McDonalds definitely did the correct thing and they also did good by doing it publicly.
News stories can have several different affects on business. For example, this week in California there have been heavy storms that are all over the news and even caused power outages in certain areas. This affected the attendance in not only school and work but also caused certain business to be out of business which affected all of us locally.
Hello everyone,
The news have been big impact on businesses due to several ways. Firstly, positive news about profitable growth or market trend can improve consumers confidence and expend, which is great for business. But negative news like a depression or political frailty can make consumes unsure to spend, leading to reduce in scales. Additionally, news about industry rule or changes in government policies can directly affect how businesses operate. Overall, the news plays a significant role in shaping consumers behavior and business policy.
Thank you!! 🙏
I think the wars between lots of countrys that have been appearing frequently in the news has effected businesses and companies in many ways. These companies want society view them in such a positive light that during the global issues they make choices to help their businesses to continue grow and flourish away from it so they make certin choices. For example, Mcdonald's have removed lots of branches in Russia due to the war between Ukraine and Russia lately. This was to help their public image as the company is made and ran mostly in Amarica who have been suporting Ukraine up to this point so that society doesnt think that they support Russia. This is only example of an issue they have had to deal with but sales have depleated due to a entire country of sales bieng taken away making the annual avenue from 310 million before to now 23 million. This is just one way that countries can be effected due to the news.
There are a number of news stories that could potentially affect businesses. For example, the ongoing trade war between the US and China could have a negative impact on businesses that rely on international trade. In addition, rising tensions in the Middle East could lead to disruptions in oil supply, which could affect businesses that rely on oil and gas. And finally, political instability in Europe could have a negative impact on businesses that operate in the region. Businesses may have to overcome challenges such as increased tariffs, supply chain disruptions, and currency fluctuations.
Those are some great examples of relevant news stories. Could you provide some sources for your information?
Sure! The ongoing Brexit negotiations are another news story that could affect businesses. If the UK leaves the European Union without a trade deal in place, businesses that operate in both the UK and the EU could face a number of challenges, such as increased costs and red tape, and decreased access to markets and talent. Additionally, businesses that rely on the free movement of goods and people between the UK and the EU could be severely affected.
Hello,
So well in my country India many situations have affected businesses like
First, the Localized Lockdowns Due to COVID-19 where Many states in India have been implementing localized lockdowns in response to the cases of COVID-19 cases. These lockdowns disrupt the operations of businesses, particularly small and medium business in our locality because these business did not have enough resources to withstand the prolonged closure
Also the ongoing farmers protests in India, particularly in states like Punjab and Haryana, have led to disruptions in supply chains, particularly for agricultural products. Businesses involved in agriculture, food processing, and transportation are facing challenges due to blockades and disruptions in key transportation routes.
Recently, The rising of fuel prices too was such a case affecting business. The steady increase in fuel prices in India is affecting businesses across various sectors, mainly those reliant on transportation for their operations. Higher fuel costs lead to increased operating expenses, which may need to be passed on to consumers through higher prices, eventually affecting demand and consumer spending patterns.
Businesses can be affected by a variety of news stories that impact the economy, regulations, consumer behavior, and industry trends. For example, changes in government policies or regulations can create challenges and require businesses to adapt their operations. Economic downturns or market fluctuations can affect consumer spending and demand for products or services. Technological advancements can disrupt industries and require businesses to innovate and stay competitive. Additionally, public relations crises or negative media coverage can damage a company's reputation and affect customer trust. Businesses need to stay informed and agile to navigate the ever-changing business landscape.
News has a significant effect on businesses. Consider the announcement made by the Nigerian government to increase the minimum wage amount. The cost of commodities had already skyrocketed, hurting low-income earners, even before the implementation by the majority of states and municipal governments.
Businesses are impacted when there is media coverage of issues like pollution and climate change. When there's a forecast for an increase in the amount of rainfall, people usually go outside and purchase extra umbrellas. When beverages are discredited, it affects the industry, and enterprises that produce charcoal by harvesting trees without planting new ones will also come under fire.
Due to the wars happening in the Middle East, many Western products have supported sides which most of us in the Middle East don't agree with. So a ton of products are being boycotted, which decreases stocks of Western companies in the Middle East, and also allows Middle Eastern companies to thrive because the amount of competition is significantly lower.
The GDP (Gross Domestic Products) is now significantly lower in most Middle Eastern countries, because the Suez Canal and Red Sea aren't safe anymore for foreign manufacturers. So Europe is waiting on products from Asia, while these products have to travel around Africa, through the Cape Of Good Road, which makes Middle Eastern countries lose one of the most important advantages they have, trade. This makes prices go up, because the number of people that transport through the Suez Canal is significantly lower.
Interesting ideas. Can you tell us where you found your evidence?
Different types of news can affect businesses, negatively or positively. First of all, celebrities can make a brand popular if they promote it in social media. This could lead to big profits for them. On the other hand a war can definitely disrupt the bond between the consumers as the last thing a person would want is to buy something other than basic needs. Weather conditions can even influence businesses. For example in my country outdoor rivate playgrounds can be totally profitable is the weather is sunny. These are some small and big things that can affect organizations.
In my opinion, news helps boost business a lot. A lot of brands are famous through the news because we got to know about them firsthand. A lot of businesses, especially startups, are grateful to the news for spreading their products worldwide, and that's why businesses must be transparent from the start about their content or products so nothing gets leaked to tarnish their image. All in all, news plays a major role in a business becoming popular. Just imagine news not existing in the field of business. Big business as well as little one, business in general would not be known unless from a friend telling a friend and that becomes too cumbersome and might not take business to high hates. News also helps businesses greatly. When customers leave reviews, news platforms use these reviews to distinguish the good or famous companies from the bad ones.
News, whether true or false, about certain companies is disseminated by the media or by people, and this affects businesses. Dissuading rumour mongers from spreading inaccurate information is essential because, depending on how they are reported, rumours have the ability to either build or destroy a firm. For example, how a newly established business is received will have a big impact on how big it gets in the future. Furthermore, during election seasons In Nigeria, an election's outcome can be determined by a candidate's reputation. A political campaign also makes people more watchful of their interactions with one other because the result can force some to leave their country.
Hi everyone!
In Ghana, one example of news stories that affect businesses is the consistent inflation in the country.
Since the price of basically everything sellable under the sun in the country keeps increasing the upkeep of certain businesses becomes difficult even though some businesses like businesses in the finance sector are not extremely
affected by inflation other sectors in the country like car dealerships tend to close because of the lack of need for such items.
In the country, there have been some ransom kidnappings going on and this makes it extremely dangerous to set up a place to do business because if your business succeeds you might face the possibility of getting kidnapped or even killed.
News stories like ones containing the rise of fake food also affect certain businesses positively because if their foods are organic there will be a rise in demand for such food increasing profit in such business sectors.
I agree with you that inflation or the rise in prices can affect businesses.
In my country too price increase can have both good and bad effects. On the positive side businesses can make more money from selling their products for higher prices. But on the negative side when prices go up a lot, things become too expensive for people to buy. This means businesses might sell less which can lead to them losing money or even having to close down. Which will definitely affect businesses
I agree that the news about price increases. for example the rise in dollar prices in my country affect businesses. With products becoming more expensive due to inflation, businesses raise prices even on old stock. This leads to inflation everywhere making living costs , transportation and everything else more expensive. This will make people to buy less of the products affecting business negatively
I strongly think people's businesses will be affected by fraudsters or scammer, because some wealthy people will have haters and when these people are being recognized, the haters will try to post fake news on the internet which will ruin the persons reputation, causing the business to get less sales or having another company wanting to work with them. I think viruses might also affect businesses, because if there is a spreading virus that can cause serious health issues, I am sure the business will have a shortage of staff members, which will really affect the business, leading to the workplace becoming slow and people having to be working overtime.
The News Can Effect Businesses Anyday!
Hello boys and girls, today we are talking about how the news effects businesses. If the news says something bad about a business or brand people wont go there and that's a problem! The news should only talk about crime, good things instead of horrible things! Brands or businesses should not ever be mentioned on any platform for something bad. That is how businesses go down, down and down.
Hello everyone!
By the way the news would, have affected, the Business. Because of crimes, poisoning, even employees treating people badly.
if that would happen the business would shut down, by now also in my opinion, nobody would even go there. Because it has massive different flaws, and there would be not a lot of businesses on earth
Hello,the news can affect businesses in many different ways.It can have a positive effect or a dispositive effect.An example of a dispositive effect is a bad report then nobody will go to the place and they have to shut down.A positive effect is a good report and more people will go to the place.A Krystles had to shut down near me because how business was running.So yes the news can effect how business goes.
Hi ,
As far as I know news does not affect businesses near me ,but I do know that there certain ways that affect a business.This can happen with any company it does not matter what field of company your in here is a example of what can happen with a restaurant because of the news. If Sonic the restaurant puts something in the food I mean like something that killed someone . That would lead to the restaurant being closed , but since that does not very likely . That is just one thing there can be more in that field or in another field.
I think that news around us can affect businesses in the sense of war take for example the war between Russia and Ukraine.For
businesses there is going to be scarcity of goods and services and increase in the price of goods and services.
Thanks.
Some news stories that are affecting businesses are about the celebrities that they work with. In my country, there are a lot of businesses that get back clash and hate due to the celebrities they associate themselves with. There are many things that a celebrity can do that can make them get hate but once the media figures out that a specific company works with that celebrity the company gets hate as well. I personally don't believe that this is fair because of the fact that most of the time, the company doesn't have anything to do with what the celebrity said or did. A problem that they may have to overcome may be boycotts. Boycotts may harm the business by the business not receiving enough money. This can cause the business to shut down eventually.
Hi, fellow topical talkers,
Well for most countries in west in west Africa the news on inflammation is the main challenge, the increase in prices has a toll on businesses, what I mean by this is, is simply that as the cost of products and the necessity of daily items increase people start becoming aware of how to spend their money in a way that they would have some left, especially considering the low outcome of money provided by their jobs.
Thus leads to businesses having a lower income therefore businesses will then have to increase further the prices leaving customers no choice but to buy , in some cases, it gets so bad that eventually people stop buying and the business collapses.
Hyperinflation in West African countries is because goods are imported from the Western world and during these importations ships usually face difficulties in successfully delivering these items if an accident is to happen the whole process starts all over and climate change plays a role in this for the reason that growing crops is very difficult in this change of climate.
There are many things that news that can be used to affect businesses. The one I'm talking about is rarely seen among people but it mostly seen happens among businesses and worst of all it damages the business head to toe. When a business is facing tough times the news can crash the business by saying bad comment they might face false business reputation and some investors wouldn't want to grow the business. Their customers surely reduce, and the businesses is and might die.
Can you find an example in the news to support your argument, fun_conclusion?
Cybersecurity threats are super scary for businesses because bad guys can hack into their computers and steal important stuff. Remember when Equifax got hacked in 2017? They're a big company that keeps track of people's credit scores. Well, hackers found a way to sneak into Equifax's website and take personal info from about 147 million people! It was a big mess. Equifax lost a ton of money, and people got really worried about their privacy. This shows why businesses need to have strong computer security to keep the bad guys out and protect everyone's info.
Businesses can be easily affected by news especially when these news are everywhere on TV, social media. A bad news story can make customers stop using this company because of its bad reputation. Even on the internet there are different rates for hotels, restaurants, bars. It logical that if we see a bad review we won't choose this place.
However in my opinion if a business has a back up plan and a good marketing team then they can turn these negative news into positive.
I agree with you. Yes, I think the news can affect business when they report about a particular business whether in a positive or negative light. Media houses in as much as they want the public to be aware of what is happening, can also be regarded as profit making houses, so the news always uses any opportunity to report on something positive or negative even if it might be harmful to a group of people. So if the news releases any negative reports on that business, the business looks bad in the eyes of the people and the business may get closed by the owners or even the government, and sometimes those rumours are not even true about that business. So what should people do in situations like this? I believe people should learn to verify published news and remember that the owners of such businesses need it to survive and that the lives of families are at stake. We should all learn to look out for one another.
News that might affect the business will be related to market news and news related to peoples interest, because, according to that only the business can vary , if the news is positive then there will be no effect on the business, but like if the news is negative and related to price up and down then it will surely affect the business …….
And due to that the company has to overcome many issues in some harsh cases he also had to fire some of the employees and due to that they might also face loss which might make them to close the company ……..
There are many more issues which the company faces of the news is not under their favour……
People have been exposing a lot about false advertising and this is making people think about if people should buy the products. There have been bad things on the news talking about businesses which are either a product or something that is racist. For example according to wikipedia it says that starbucks has been decreasing its money because of the john floyd incident which had stopped Starbucks company to not wear their black lives matter shirts. Also their was a problem with target which was selling to many lgbtq products. ALl im saying is that the news has affected buisnesses which is either to decrease its money or decrease.
Hello
Well in my city Mumbai, there could be several news stories that effect business like Construction projects, such as the development of new roads, bridges, or public transportation systems, can impact businesses due to changes in traffic patterns, accessibility, and disruptions to operations.
Also Mumbai is prone to flooding during the monsoon season, which can disrupt business activities and cause damage to infrastructure and property. Over all all natural disasters affect business
Events such as disease outbreaks or health emergencies can impact businesses as we have seen this in the recent Covid-19 Pandemic.
Also Advancements in technology, such as the adoption of automation or digitalization, can impact businesses by changing the way they operate and compete in the market. We can see this now all over the world with the wide-spread use of AI.
Strikes, labor shortages, or changes in labor laws can impact businesses by affecting productivity, increasing costs, and causing disruptions in operations.
Recently, In Mumbai, Many labors of the transportation service of petroleum went on strike due to some changes in policies. Such strikes can disrupt the supply chain, leading to shortages and price fluctuations, affecting not only businesses but also the general public, who rely on these services for their daily transportation needs. In the case of such petroleum transportation strike, the availability of fuel for vehicles and machinery would be severely impacted. This could lead to long queues at petrol pumps, scarcity of fuel for public transport, and increased costs for businesses that rely on transportation for their operations.
The war in Ukriane has put energy prices up. This means the cost of goods and services go up. This is called inflation.
I feel the news does affect businesses. This is because people listen to the news and think its all true so if there bad, incorrect infomation about some business people will boycott. Also because of the wars people are boycotting certain businesses because they support one side. Which leaves the to lose customers and profit. Also people are always looking for good deals and affordable prices so if the news spreads out about certain shops. Some shops will gain customers other will lose profits.
Hello,
I suggest that the news affects the business .
And this affects in so many ways. Examples are:
1. The inflation of products nowadays occurs at a very high rate so sole proprietors would need to keep in touch with the news to know whether they would increase or reduce the price of their goods.
2. Nowadays, people make goods that are not registered and they sell to consumers, so it will be important to keep in o know if you are buying the right or wrong products.
The news that might affect businesses in 2024 is economic fluctuations. For this news businesses have to overcome many problems such as :
1. When the economy is down people tend to spend less on non-essential things. This means businesses might see a decrease in demand for their products or services.
2. During uncertain times businesses may be hesitant to invest in new projects. This lack of investment can slow down business growth.
3.Banks might be more cautious about lending money during economic downturns. This can make it difficult for businesses to get the money they need.
4. Economic fluctuations can disrupt global supply chains making it harder for businesses to get the materials they need to make their products. This can lead to delays and increased costs.
5. During economic downturns, businesses may need to cut costs by laying off employees. On the other hand, during upturns, they may struggle to find skilled workers due to increased competition.
6. Fluctuations in exchange rates can affect businesses involved in international trade. A strong domestic currency can make exports more expensive. On the other hand, a weak currency can increase the cost of imported goods.
To overcome these challenges businesses should focus on managing their finances wisely, finding ways to attract customers even during tough times, optimizing their operations to reduce costs and staying flexible to adapt to changing conditions.
Hi wonderful friends.
News affect businesses in
my country include the increase in petroleum prices which affect businesses badly. This increases the cost of production and eventually prices of goods also increases, leading to the reduction in demand which creates a deficit for the producer because whatever is being produced is not being bought.
In addition, increase in tariffs like electricity bills and water bills can affect businesses . For instance, in my country, the Public Utilities Regulatory Authorities (PURC) announced the 30% increase in electricity prices and 8.3% of water on 16th January 2023.This led to the shutdown of a lot of companies and businesses coupled with high inflation and the currency depreciation. Again, with the introduction of technology, most companies have adapted to technology which also comes with a cost.
Sources: citinewsroom.com
Thank you.
Something i have seen that is affecting businesses is inflation.Prices have been going up so much in stores even to buy groceries is expensive ans they one of the most necessary things we need.Also gas as we have seen gas prices have been going up extremely high.Many people don't have enough money to be able to afford it and many other people are loosing their jobs to to companies having to let them go because of how expensive materials are too.Here in san jose getting housing is extremely pricy and its not easy living here you are practically working just to able to have a home.
In my city, meaning the so called "SaarLorLux"-region (which includes regions from Germany, France and Luxemburg), public transport has been discussed very frequently, especially with regards to it being for free. Last school year, we visited the congress of our city and got the chance to discuss current political issues with politicians who were representing us as we spoke. During one of those discussions, a politician who was responsible for interregional relationships (meaning the SaarLorLux - area) reassured us that they were constantly working on a public transportation system between those regions that at least required very few spendigns of the people. If this was really about to become true, I think businesses are more likely to expand towards those other countries or regions, respectively.
I personally believe that news stories truly affect businesses. They dominate the people‘s opinion about a business and even create prejudices.
A business might need to overcome false accusations and make a statement to clear up a few things.
Public news stories about certain controversial topics might also force them to make somewhat of a statement. For example, the war in Ukraine. Businesses had to decide wether or not they would go on and close their stores in Russia or support Ukraine. This also extremely affected their image.
Another example could be Adidas ending their contract with Kanye West after his actions. Public news often force businesses to react to not loose their customers and reputation .
I think Beyond the direct impact of news on a company's reputation, various news categories can pose challenges and opportunities. Economic downturns can strain finances and sales, while political shifts might introduce new regulations or trade barriers. Technological advancements can necessitate adaptation to stay competitive, while cybersecurity threats demand constant vigilance. Socially, evolving values and movements can influence consumer behavior and potentially lead to boycotts or public scrutiny. Businesses must stay informed and prepared to navigate this ever-changing landscape, adapting, innovating, and capitalizing on emerging opportunities.
Hello
I think because of wars and companies helping the wrong/right side can affect a lot on businesses well according to ecmtutors.com war, despite its destructive nature, has a remarkable ability to ignite innovation. Think about it this way, war demands creative solutions.
For example : when you are in the middle of a mess you would need better equipment quicker communication and more certain maps well the solution to this has been discovered after deep thinking. Do you know GPS it was firstly created to military uses but now it guides us to any place that we want
I think that.....
In addition to the insights shared by John Ferguson, several other news stories could potentially impact businesses in 2024. Here are some additional factors and challenges that businesses might have to navigate:
Technological Disruption: Rapid advancements in technology, including artificial intelligence (AI), automation.
Geopolitical Tensions: Businesses may face challenges related to tariff barriers, sanctions, and geopolitical risks, requiring them to diversify their markets and manage geopolitical risks effectively.
Climate Change and Sustainability: Companies may need to address environmental regulations, reduce carbon emissions, adopt sustainable practices, and invest in renewable energy solutions to mitigate climate-related risks and ensure long-term sustainability.
Cyber security Threats: With the increasing reliance on digital technologies and data-driven processes, cyber security threats pose significant risks to businesses.
Social and Political Movements: Social and political movements, including activism around diversity, equity, and social justice issues, can impact consumer preferences, brand reputation, and corporate responsibility initiatives.
Overall, businesses must remain vigilant and proactive in monitoring and responding to emerging news stories and external factors that may affect their operations, growth prospects, and long-term sustainability. Adaptability, resilience, and strategic foresight are essential for businesses to thrive amidst evolving challenges and opportunities in the dynamic global landscape.
Some news that can affect businesses are particularly hate movements. On many occasions, when a group of people do not like something, they can commence a boycott to get what they desire. Boycotts have existed for many years and have even been on the news. One recent hate message that has spread across the country is the strike for actors in Hollywood. The strike had sent a clear message; increased pay for the people in Hollywood. Because of this, many movies were delayed in production. One popular movie included is Spider-Man: Beyond the Spider-Verse. A problem Hollywood would need to overcome is to win back their employees to make sure everything runs smoothly.