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Corporate Communication by Michael B. Goodman

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CHAPTER 3

Understanding the Business Environment, Linking with Its History

Forces that Transformed Corporate Communication

The challenges facing multinational corporations have only deepened, as the world economy, like a 4th of July rocket, burned brightly, and then abruptly fell to earth taking Wall Street with it on September 15, 2008, plunging the world into a deep recession. The financial crisis of 2008 forced a transformation in fundamental business models. Manufacturing and the auto industry teetered on the edge as Congress debated its fate, and the media business faces an uncertain future as Rupert Murdoch’s News of the World ceased publication amid a scandal in the U.K. in 2011. During the summer of 2011 the U.S. Congress exacerbated ...

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