Financial Literacy: Why Comms Pros Must Understand the Difference Between a Product and a Business
As companies like Peloton, Zoom and Netflix take heavy losses on the stock market and online, here’s how brand storytelling must center business basics—and avoid the perils of hype.
Ted Kitterman, Ragan CommunicationsIt’s common to hear from PR industry experts about the importance of becoming a business expert.Business acumen, strategic thinking and the ability to speak to the language of the C-suite are essential advantages for PR pros looking to ascend the corporate ladder. Yet, it’s perhaps never been more difficult to suss out some of those business fundamentals.The stock market has been impossible to predict lately, with many foreseeing a calamitous future amid the Federal Reserve promising rising interest rates and questions about rampant inflation.The New York Times wrote:
As the wild stock market swings that started the week demonstrated, no one knows where the market is going, not hour by hour or day by day. What’s more, no one on Wall Street has been able to predict reliably where the market will be next month or next year, though plenty of people are constantly trying to do so.Really, we’re all in the dark, and when stocks are shaky, that’s not a pleasant place to be. Yet there are compelling reasons to stay in the market.