Economics and Public Relations

economics-and-public-relationsTonight I was lucky to attend a workshop by Mark Weiner, author of Unleashing the Power of PR. It was a great, practical presentation and I did take lots of notes.

One thing stood out though. On his very first slide, Mark stated the “language” differences between business or economics and public relations. How many CEOs would know what you mean if you said clutter or buzz?

Later when he was describing how to measure the return on investment for PR campaigns I scribbled a note “elasticity of demand” to explain his concept. It got me thinking: how many people in the workshop tonight would understand the term elasticity of demand? Describe the concept and they’d be fine but not by using the terminology. This lack of business knowledge is a weakness in Australian PR. We have some great communicators and PR practitioners but can they hold their own with the rest of the board table?

How can you overcome this to combine economics and public relations?

So, if your sole qualifications are communications and PR, get out there and do an MBA or read up on what some entrepreneurs have done to make it. If you don’t, your company will forever see you as only a cost centre.

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