Business journalism An exaggerated cult of the CEO and shortcomings in information policy are clouding relations between business and the media, and business reporting has broken out of its former traditional columns and is threatening to get out of hand: On the Blick front page, the misdeeds of a CEO provide just as palatable material as the demands of an airline boss for more cash. On the other hand, captains of industry can also be depicted in the comfort of their own homes and cater to the emotional worlds of magazines and their readers. Keywords such as balance sheet fraud, mass redundancies and the New Economy crash are fueling an increasingly fierce competition between more and more newspapers and magazines. At the same time, the aggressiveness of reporting is increasing and also threatening to come apart at the seams - so the question that the panel of the International Advertising Association (IAA) posed to its most recent panel discussion must be allowed: "Tension between business and the media: who is instrumentalizing whom?"
NZZ head of economics Gerhard Schwarz diagnosed "a certain downward spiral", with attention often being drawn in the wrong direction. This is also due to the fact that around a third of those,
who are business journalists
are actually corporate journalists. "And they write about the person, their psychology and motives - but not about what these CEOs are actually paid to do: namely run a business." Kuoni CEO Hans Lerch also denounced an increasing "exaggeration and destructive policy" in business journalism, in which the headline has become more important than factual reporting.
Does the way out lie in more training and further education for business journalists? The question of whether business journalists are able to analyze the balance sheet of a major bank seriously at all only showed how strained the relationship is. "In view of the balance sheet falsifications we have experienced, this question is no longer so relevant," was Hanspeter Bürgin's succinct and anything but resigned answer.
According to NZZ-Schwarz, the tabloidization of business reporting has also further increased the demands on editorial teams. "The art of the tabloid is simplification, but the right one. And that doesn't always work. If you do tabloid journalism right, it's more difficult than NZZ journalism."
However, the "spiral" diagnosed by the panel participants cannot be blamed on journalists alone. It also has to do with the reading needs of Sunday readers, for example. "Because they are primarily looking for the frivolity of Sunday when reading." Aloys Hirzel, doyen of Swiss PR and former advisor to Werner K. Rey, added that this tabloidized form of business reporting cannot always be a matter of minnes, and that we have to live with it.
The NZZ doesn't like the fact that this change in perspective has led to an excessive personalization of companies through CEOs who are constantly present in the media: "We don't see the company, but the person at the top," criticized Schwarz. However, because a large company consists of thousands of employees, the wrong message is being conveyed. The greed of many CEOs for more and more media presence is also to blame. "The
CEOs are involved far too much, especially in the private part, which has little to do with their job. All these home stories are not only damaging for the individuals concerned in the long term, they are just as damaging for the companies and ultimately for the image of the economy and our system," Schwarz criticized.
"Soft values" also countThe personification is actually spot on, contradicted the TA journalist Bürgin. "After all, it's also about recognizing the deeper driving forces of managers, i.e.
to understand their psychology. In the case of managers who have stumbled, a lot could certainly be explained by their personality." Hirzel also does not see personification as a reason for the tense relationship. The CEO must also communicate so-called soft values, which include an ethical attitude, for example. "And this is a task that they can ideally perform via the media," says Hirzel.
The two examples of botched corporate communications at McDonald's and Swiss showed that playing with the media can also end in a fiasco. More serious than the personal failure of Waldemar Nuvall, CEO of McDonald's Switzerland, were the blunders in the communications management of the crisis. An external PR consultant had tried - bypassing the internal communications department - to persuade the media to keep the issue on a low heat or even ignore it. The consequences of this policy are well known: The affair ended in a shambles. Not only Nuvall, but also the Chairman of the Board of Directors of McDonald's Switzerland and Head of Communications Andrea Hemmi resigned. "A disaster for a global brand," was Hirzel's assessment of how the scandal unfolded.
The latest crash of Swiss aviation was also seen as a debacle, this time in terms of corporate communications. The blunder related to CEO André Dosé, who first presented his economic demands to the Federal Council in Blick. "You can't inform the Federal Council about the items on the agenda for the near future via the newspaper - and also include what you think about each item on the agenda and what you expect from the Federal Council," Hirzel stated. A flagship company has thus demonstrated that it has "not even mastered the basics of corporate communication".
Personalized business stories: a reflection of a reality that serves the economy and the media.
The crash of the new economy has also left behind a critical relationship between business and business journalism. Reason enough for the International Advertising Association Swiss Chapter to host a panel discussion last week. The "case of damage" was examined by the panelists Ralph
Büchi, HandelsZeitung publishing group (moderator); Hans Lerch, CEO Kuoni AG; Aloys Hirzel, Hirzel Neef Schmid; Gerhard Schwarz, head of the NZZ business editorial team since 1994, and Hanspeter Bürgin, editor and head of news at Tages-Anzeiger. (dse)
Daniel Schifferle