Proposing a Model for Public Opinion Management with Regards to the Currency Crises

The ongoing foreign exchange crises_ whose roots can be traced to the conspiracies of foreign governments_ is among the most significant crises Iran has faced in the last decade. In particular, one can point towards the crucial role played by the foreign media in heightening these crises through intensifying frenzy and sensationalism. Herein, national media can play a pivotal role by acting as a leverage in preventing sensationalism from taking hold of the society, and hence protect the economy through directing public opinion. Towards this end, the objective of the present paper is to make a contribution towards designing a five-dimensional model for managing public opinion during times of crises. The initial cue for this paper came from a review of the exiting literature on the subject and examining the media coverage surrounding the crises. In order to design the model, the methodology of this paper was to initially conduct a questionnaire, and subsequently, analyze the data using exploratory and confirmatory factor analysis methods. All criteria pertaining to the fitness of the model were verified by exploratory and confirmatory factor analyzes. Consequently, the results obtained by this paper present a model of public opinion management during currency crises based on five dimensions: notification of the public, public training, monitoring, social solidarity and audience. In conclusion, the paper underlines the role for utilizing social media in times of currency crises, based on the presented model for managing public opinion and thus reducing the frenzy created by foreign media.