The Rumor Mill is considered an informal channel of communication and it is inevitable in an office environment of three or more people (Satterlee, 2009). Rumor has also been defined as information that is not verified, is of local or current interest, and is primarily intended for belief (Pleis, 2009). Summary: The article titled “How Message Board Rumors Can Hurt Your Business” was written in 2009 by Letitia Meier Pleis, PH. D. , CMA, CFM, CPA. Pleis is an assistant professor in the Department of accounting at the Metropolitan State College of Denver and a member IMA’s Denver-Centennial Chapter.
Because of her professional position and her impressive scholarly achievements her opinions are valuable. In her article, Pleis informs about the issues concerning rumor filled message boards as a source of information for investor related issues. The information provided on stock market message boards, such as Yahoo Finance, is extremely popular but not always accurate. A research study was conducted to analyze the influence of messages boards and the result was that negative posts influenced stock market decisions.
Discussion: The article “How Message Board Rumors Can Hurt Your Business” relates to the key term I selected because it focuses on informal communication channels, and rumors in particular are investigated. Rumors may contain correct information or be completely false, but the main problem is that the information is unconfirmed (Pleis, 2009). The problem is that rumors can damage the people and companies involved. In the article, Pleis talks about how the financial community is concerned with this type of informal ommunication, because even though people know that rumors are not necessarily credible, they get influences by them. We have all experienced the effects of rumors in school among friends. I remember people talking about events and completely twisting the truth. The problem with grapevine is that it gives people things to talk about and it is impossible to prevent people from talking altogether. If we look at the amount of gossip based TV shows and magazines, we can see how popular rumors are as a means of entertainment.
We should never forget the consequences of rumors because people tend to forget that a simple rumor related statement could be extremely hurtful both professionally and personally. In the Financial community, incorrect information can be devastating on a very large scale because usually numerous people are involved. I urge Investors to gather and analyze valuable information from credible resources such as formal company reports or the Security & Exchange Commission (SEC). The Bible also mentions some issues concerned with rumors.
A quote that I found extremely interesting is; “They do not speak peaceably, but devise false accusation against those who live quietly in the land” (Psalm 35:20). In this case jealousy is definitely a factor because the people that are not happy with their own situation often try to accuse and blame people that seem content. In my opinion, people should be more concerned with fixing their own situation instead of starting rumors about others.
References: Satterlee, A. (2009). Organizational Management and Leadership: A Christian Perspective. p. 5). Roanoke, VA: Synergistics Inc. Pleis, L. M. (2009). How message board rumors can hurt your business. Management Accounting Quarterly, 10(4), 10. Retrieved on April 22nd 2012, from http://web. ebscohost. com. ezproxy. liberty. edu:2048/ehost/pdfviewer/pdfviewer? sid=27af71b8-30a4-4cbb-88f0-bca212252f27%40sessionmgr11&vid=6&hid=17 Dubois, D. , Rucker, D. D. , & Tomala, Z. L. (2011). From rumors to facts, and facts to rumors: The role of certainty decay in consumer communications. Journal of Marketing Research (JMR), 48(6), 13.
Retrieved on April 22nd 2012, from http://web. ebscohost. com. ezproxy. liberty. edu:2048/ehost/pdfviewer/pdfviewer? s id=a7b368dc-861a-4097-8180-b035085c421b%40sessionmgr13&vid=6&hid=17 (Dubois, Rucker & Tomala, 2011) Bhavnani, R. , Finley, M. G. , & Kuklinski, J. H. (2009). Rumor dynamics in ethnic violence. Journal of Politics, 71(3), 17. Retrieved on April 22nd 2012, from http://web. ebscohost. com. ezproxy. liberty. edu:2048/ehost/pdfviewer/pdfviewer? sid=a7b368dc-861a-4097-8180-b035085c421b%40sessionmgr13&vid=6&hid=17 (Bhavnani, Finley & Kuklinski, 2009)