Public relations thrives on public opinion Research Paper

Public relations thrives on public opinion - Research Paper Example Soon after, a large number of companies and organizations started employing publicity tactics to attract large audiences. The Excellence Project Vercic, L.A. Grunig (1996) states that nine generic principles govern the basis of setting up global public relations. Edward Louise Barneys is considered an America pioneer in the development of techniques relating to public relations and propaganda. Edward Barneys is considered as the ‘father of public relations’. Edward Barneys developed many influential PR techniques including press release and third party advocacy. Barneys helped remove the taboos surrounding the idea of women smoking in public, thorough his famous campaign of 1920 known as the Women’s Smoking Campaign. Barneys educated the industries regarding the importance of news and stated that it was the most effective method of conveying message to the public. Edward Barneys summarized the importance of PR techniques in his famous quotation given below: This quotation fully explains the importance of public relations and public opinions in setting up a democratic system. In modern world, setting up a democratic system encompasses various aspects. One of the major aspects in establishing democracy is public relations. The research following the development of Excellence theory shows that public relations serve as a pivotal condition for the establishment of a liberal democracy. During the 20th century, public relations gained the status of becoming a powerful and influential industry, not only in the United States of America but across the whole world. In modern society, public relation operations are not just limited to the in-house activity of public corporations and public institutions, but are also being increasingly established as independent consultation firms. Thus, public relation operations have become a prominent constituent in

Estimation of Weighted Average Cost of Capital Essay

Estimation of Weighted Average Cost of Capital - Essay Example The paper also discusses the various project evaluation techniques like Net Present Value Method, Internal Rate of Return, and so on. The paper takes a quantitative approach for the explanation of various concepts in Capital Structure and Project Evaluation Techniques/Capital Budgeting Techniques. Cost of capital is an important phenomenon in determining the overall/weighted average cost of capital. In fact, the financial risk is judged by investors and other stakeholders in line with cost of capital and nature of capital structure. The overall cost of capital can be reduced and value of the firm can be improved by maximizing the debt content in the capital structure. But, as debt content goes on increasing, equity investors expectations about risk will also change. Investors feel risk in investment with highly levered firms and vice versa. Capital structure theories postulate the various possibilities of capital structure. It does not speak about which approach is most beneficial to companies in various situations. Capital structure is not a static phenomenon. It keeps on changing with every change in the mix of various sources of capital/fund. The profitability of a business proposal/ project can be evaluated in various ways using both discounted and non-discounted project evaluation methods.