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Global Business System - Lab Report Example

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The following paper will throw a light on the nature of the modern newspaper industry’s business. It will discuss the differentials in the business environment of the newspaper industry in the developed and developing economies. It primarily concentrates on the developed economies…
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Global Business System
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Download file to see previous pages The learned from the report will help a reader to analyze the internal and external aspects of the business of the newspaper industry in detail. It has been analyzed in this report that the newspaper industry has grown more competitive and digital in nature down the years. Over time mankind has combated several wars to develop and enhance their personal skills. Literacy is considered as one of the key indicators for economic development in a nation. It has been proved an infinite number of times that the contribution of education in the field of growth of welfare and well being is perilous. In the contemporary world, it can be stated that those nations that possess a high literacy level are able to perform better in the global market places. The worlds of the economic, social, cultural and political life of human beings have a series of unremitting incidences. The improvement of literacy and the growing awareness of the individuals about the current situations in the world around them have augmented the austerity of the popularity of newspapers. Even today, despite the different types of media like television, the internet, etc., the use of newspapers positions itself at the zenith in the global media industry. However, it would be interesting to note that the nature of the print media industry in the developed and developing economies is substantially different. This report will throw a light on the newspaper industry in detail for especially the developed economies and would also compare the same for the developing countries around the globe (Westwood, 2005). PEST is actually an acronym for the four words political, economical, social and technological. It has been analyzed by the scholars that this technique of analysis helps to implicitly analyze the business environment of any industry. This helps the analysts in the industries to formulate efficient business strategies for their respective business segments. The future impending business difficulties and the risks can also be minimized with the help of good PEST analysis for a company. It is also true that the opportunities in business and resources can also be used in the most cost-effective manner with the help of the PEST analysis of a business firm. In the developed economies, the impact of political changes on the newspaper industry is massive. A new legislative act or the occurrence of an election or the emergence of a new political turmoil bring about large changes in the nature of interests of the reporters in the newspaper industry. The political parties in developed economies like the U.S. influence the newspaper companies to create readership interests according to the requirements. Though the newspaper industry does not desire much of political regulations over its operations, political intervention does matter to its operations. However, it should be considered that the government issued copyright to the newspaper companies is crucial for the respective organizations. Thus, even if the term ‘freedom of the press’ is a common jargon in the newspaper industry, the industry, in reality, demands much political intervention. ...Download file to see next pagesRead More
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