This review study shed light on the debate over positive and negative aspects of media. Like any other business, the purpose of the media is to earn profit and the only way they can do so, is by providing the viewers with whatever they want. Electronic Media is a form of entertainment, knowledge and communication and influences societys conductivity and is deeply censored, biased and manipulative in order to control society. This is because the content of mass media is very powerful and it has become a agent of socialization which can shape peoples behavior or even influence the ways of how people think. From newspapers and radios to televisions and social networks, the various forms of media have provided the public with more knowledge and accessibility to information and connectivity to others than ever before. - Definition & Overview, Franchisee in Marketing: Definition & Explanation, Influencer in Marketing: Definition & Overview, Intangibility in Marketing: Definition & Overview, Learned Behavior in Marketing: Definition, Types & Examples, Marketing Orientation: Definition & Examples, Schedule Variance: Definition, Formula & Calculation, Working Scholars Bringing Tuition-Free College to the Community, Speeds up and expands possibilities of media content distribution, Users can access multiple types of media on one device, Democratization of media (anyone can produce media on a social media website), Expands access to information (anyone with an internet connection can listen to open courses from American universities, for example). Media corporations often employ multiple media formats, such as TV, print and the internet to enhance their offerings. It has both positive and negative consequences. Some of the advantages include minimal control by the government. A successful conglomerate is a company whose parts are made up of several smaller independent companies that operate in various sectors. *Federal Communications Commission, Broadcast Station Totals as of September 30, 2016, on the internet as a PDF at https://apps.fcc.gov/edocs_public/attachmatch/DOC-341807A1.pdf. However, global phenomena such as deregulation and globalisation have particular impacts on mass media and media content. Print media take advantage of the internet as well. Finally to increase learning among children researchers suggests that co-viewing of Parent and children should be promoted in families in Pakistan. Synergies are created when two businesses come together and create efficiencies or cost savings by sharing resources, ideas, or knowledge. Some people think that this is a bad thing because so many things that are uploaded can be either false information or simply information that is misleading and could teach individuals the wrong thing. Any act that against this law may lead to fines or in much extreme cases, prison sentence. What is media convergence? This limitation of scope goes hand-in-hand with another benefit: improved quality. Technological convergence is the key element of media convergence. Conglomerates can become so diversified and complicated that they are too difficult to manage efficiently. In his essay he explains the importance of the media and its effect on the general public. Anyway, it cannot be denied that conglomerates play a very important role in the economy of any country. The big-company sickness is referred to as this. A financial adviser who wants to recommend a risk-averse approach will inevitable talk about diversity and a diverse portfolio of investments. But is this a good thing? One firm controls a significant portion of numerous small firms that operate independently in a conglomerate. Previously researchers have found that all types of electronic media whether its TV or computer or internet or social media have negative impact on children but now researchers are focusing on educational aspect of media and how educational programs can help in developing cognitive thinking among children. . VI. These structures can create a capital market within the group to allow growth of the conglomerate. Mass Media Research Concept & Examples | What is Mass Media Research? Media consolidation can raise quality levels of local programming. (Yeh. Some of the popular examples of multinational conglomerates are-. Conglomerates are usually formed via acquisitions, in which one company buys a controlling stake in another firm. How has Conglomeration Changed the Movie and Telev Conglomeration of the movie and television industry, Motion Industry and The Effects of Conglomeration. Although the acquisition of more and more companies may potentially enable better overall performance during business cycle fluctuations, this may not always be the case. Today, the media has many vital roles in a modern democracy such as; political lies, reviling the truth to the public as well as helping to aid with the hypocrisy of the nation. Media convergence is driven by the development of computer technology, such as smartphones. A smartphone or tablet computer puts an entire library, a GPS, a telephone, and a postal service into the palm of the user's hand. A corporation is a conglomerate made up of several distinct enterprises. In Malaysia, Law such as Publications act and printing presses give the Malaysian authorities the control over all the media. One popular example of acquisition can be found in the energy sector. However, if mass media is used in the right way it can be beneficial to the accessibility of valuable information, When a journalist wants to report an article, interview, survey, etc. From reporters bringing us stories of people in difficult situations to social media allowing one persons thoughts to go viral and spread across the world, mass media can lift up an individual voice that would otherwise have gone unheard. A conglomerate can show earnings growth, by acquiring companies whose shares are more discounted than its own. On the concluding note, it can be said that conglomerates are the big business houses that have many subsidiaries working under them and conglomerates have their own pros and cons. What is Meant by Piercing The Corporate Veil? In order to handle this, the corporation may sell off its holdings. Smartphones combine numerous technologies which used to be available on separate devices: a computer, a watch, an alarm clock, a GPS, a newspaper, a credit card, etc. Potato chips might be the first product offered by a food conglomerate. Whether you are starting your first company or you are a dedicated entrepreneur diving into a new venture, Bizfluent is here to equip you with the tactics, tools and information to establish and run your ventures. United States [ edit] 2023 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Media convergence has a number of serious effects on society. Let us have a look at some of the key benefits of conglomeration-. Many media corporations have developed cross-media content to adapt to this new technological reality. 3M is a conglomerate that has a number of subsidiaries that operate in different markets. Or we can simply say that advertisers and government rather than to the public interest. Some of the disadvantages are that Culture clashes can destroy the value of the company; the extra layers of management can increase costs. These subsidiaries include Honeywell Aerospace, Honeywell Automation, and Honeywell Building Solutions. What are the advantages and drawbacks of, allowing large conglomerates to control the mass media? Hi, I am an MBA and the CEO of Marketing91. Personal Injury: Stunts portrayed in the media have led to severe injuries for some people who do them. Conglomerates also have a number of disadvantages. The Uses and Gratifications Approach sees the gathering of people as dynamic, implying that they effectively search out particular media and substance to accomplish certain outcomes or delights that fulfill their own needs. The complexity of a conglomerate's accounts make them harder for managers, investors and regulators to analyze, and makes it easier for management to hide issues. For example, a conglomerate may have a subsidiary that manufactures cars and another subsidiary that manufactures tires. The state of global mass communication today can be identified through a discussion of key concepts at play. Numerous online universities offer communication degree programs, giving you the flexibility you need to complete your coursework from home and on a schedule that can let you continue working full time. Narrowcasting Background, Use & Examples | What is Narrowcasting? 2023 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Organic convergence refers to the way in which one organism might use multiple media functions at one time (e.g., watching a movie on the internet while chatting online with a friend and googling a new recipe for dinner). 12 chapters | Most of the media firms have started to implement a 360-degree strategy that integrates content decisions shaped by the potential to generate consumer value and returns through multiple platforms of expression of that content via a number of distribution outlets (Doyle, 2010). 14 Steps to Buy a Business, C Corporation - Definition, Benefits and Disadvantages, What is Compliance? Let us know in the comments below. For example, schools are using these technologies as an alternative way of teaching students. People. They are generally large and multinational. These subsidiaries include 3M Health Care, 3M Automotive, and 3M Industrial. I am a Digital Marketer and an Entrepreneur with 12 Years of experience in Business and Marketing. One professional consultant who pioneered these formats justified them by claiming, People who watch television the most are unread, uneducated, untraveled and unable to concentrate on single subjects more than a minute or two. (Lazere 306). One example of a Conglomerate merger is the combination of Dow Chemical and DuPont, which was announced in December 2015. With a bachelor degree in communication, you can gain the knowledge you need to work in a wide variety of communication jobs. Technological convergence is the process by which one device, such as a smartphone, combines functions of a number of previously separate devices (newspaper, GPS, post office, etc.) Business industries are using it to increase business efficiencies. Conglomerates may also be created through joint ventures, which occur when two companies come together to form a new company that is jointly owned by both firms. As a result, the conglomerate can gain access to new markets and technologies through its subsidiaries and have many shareholders. Citizen Journalism Overview & Examples | What is Citizen Journalism? Creates a divide between those with access to computer technology and those without. The former says that, up to a certain point, companies will consistently lower relative costs as they grow, and the latter that advantages can be increasingly gained from complementary services available within a growing entity. This is because conglomerates usually have a number of different subsidiaries that operate in different markets. From the effects of this merging media, a purely capitalistic society relentlessly forms, diminishing individual rights . Media conglomerates such as Viacom, represents the historical and present ideas of consolidation and convergence. Doing so may also assist the parent company to save money on operational costs while at the same time requiring less manpower. Which is to say, mass media simultaneously benefits us and creates new problems. It is smartphones, computers, and other smart technologies which give people access to a wide variety of media at all times and in almost all places. As media companies grow larger and larger, they become more susceptible to bias. In the same way, one advantage of a conglomerate is that it is better equipped to retain a general position and be less affected by adverse fluctuations. Media Literacy Examples & Skills | What is Media Literacy? Smartphones, tablets, and other smart devices offer a plethora of services that used to only be available through various, unconnected technologies. There are two types of conglomerate mergers: pure and mixed. In this study positive side of media is highlighted as well as negative effects. HARM than MERITS. Today, there are many various sorts of more specialized conglomerates, ranging from manufacturing to media to food. As the merging companies operate in distinct industries and/or markets, the merged company is less vulnerable to declines in sales in one industry or market. Moreover, technological convergence has seen the rise of social media journalism. Also a conglomerate can create internal capital market if one of the external companies are not developed fully.
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