Public Relations implemented by Private Companies in Georgia
In Georgia PR at private companies also known as commercial PR is still in its infancy. In USA and Europe public relations appeared with the appearance of free market relations and rises in overall consumption. Georgia experiences the same process, however a century later.
Private companies in Georgia implement some elements of commercial PR. Event sponsorship is the most obvious example of this. Firms finance concerts, exhibitions, TV programs; however they do not realize that their actions are called PR and not advertising.
Official lobbying is mostly represented by private companies providing lobbying service to the large firms. Clear example of this is First Lobby, company that represents AES Telasi to the executive and legislative government, president and customers. Energy industry is strategic business in Georgia; therefore PR is vital for AES-Telasi. Read more
Conflict of Interest between Banking Supervision and Monetary Policy Functions faced by Central Banks
The simplest and the most obvious facet of conflict of interest is the scarcity of managerial time. The supervisory activity needs deep involvement into assessment of liquidity and solvency of each bank, it might take too much time, which is very valuable during the financial crisis when immediate decision on macroeconomic policy becomes crucial. The efficient division of time between supervision and monetary policy decision-making would involve specialization of work, which would make quality of each work improve while simultaneous actions can be quickly elaborated through cooperation and consultation.
Another source of conflict of interest is created with respect to formation of public opinion about performance of the authority. In general, supervision is deemed to be successful by the public if it completely avoids all kinds of loses of depositors as a result of bank failure and in addition, involves only minimal restrictions. Read more
