Using 1997 financial crisis and other examples, discuss how globalization is important to the modern business journalism. Introduction
As we know, the Internet has a great contribution to globalisation. At the same time, globalisation shows its impact on economy and culture. Held and McGrew rightly defined globalsation is “[…] a widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual (Held and McGrew 1999 P.2)”. On the other hand, business journalism is facing opportunities and threats which globalisation brings them.
In order to see how globalisaiotn is important to business journalism, we will focus on how Internet affects industrial norms of business journalism. In the following, we will first discuss how the new media contributes to the business journalism, and then we will discuss how globalisation changes the business journalism in aspects of professionalism, industrial competition and variety of news.
New media changes journalism
Asian financial crisis in 1997 is a good example to demonstrate the globalisation as a single issue in one country will motivate a domino effect on other countries. Since the crisis stared in Thailand because of the fail in banking system, a political upheaval was triggered in South Korea and Indonesia. At the same time, financial centres in New York, London, Hong Kong and Tokyo were also affected in this crisis. During the crisis, global news agencies utilised the Internet and telegraph updating news to their home countries. Such as the Economist, Reuters and the Financial Times which ar...
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When discussing the media, we must search back to its primal state the News Paper. For it was the News paper and its writers that forged ahead and allowed freedoms for today’s journalism on all fronts, from the Twitter accounts to the daily gazettes all must mark a single event in the evolution of media in respects to politics and all things shaping. Moving on in media history, we began to see a rapid expansion around 1990. With more than 50% of all American homes having cable TV access, newspapers in every city and town with major newspaper centers reaching far more than ever before. Then the introduction of the Internet; nothing would ever be the same.
The “marketplace of ideas” would become a significant part of journalism and is still present and in effect today. One might argue that the “marketplace of ideas” has run amuck. As technology continues to advance we are witness to the ever-changing adaption made to journalism and its techniques. No longer is the schooled journalist, or the wealthy publisher the only ones to report our d...
In “Reporting the News” by George C. Edwards III, Martin P. Wattenberg, and Robert L. Lineberry, the main idea is how the media determines what to air, where to get said stories that will air, how the media presents the news, and the medias effect on the general public. “Reporting The News” is a very strong and detailed article. The authors’ purpose is to inform the readers of what goes on in the news media. This can be inferred by the authors’ tone. The authors’ overall tone is critical of the topics that are covered. The tone can be determined by the authors’ strong use of transitions, specific examples, and phrases or words that indicate analysis. To summarize, first, the authors’ indicate that the media chooses its stories that will air
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The objective of norm in American, by Michael Schudson, explores how and why the objective norms developed in American journalism. Objective is one of the most important occupational values of American journalism, it can be identified by following measures: express allegiance, ethnographers’ observations and occupational routines, resist with the challenging behaviour, impersonality and non-partisanship in news content. Differencing from some scholars’ opinions that economic and technological change enhances the ethic of objective, Schudson thinks four conditions encourage the articulation of norms. Two of them are Durkheimian, the other two are Weberian. One of the Durkheimian conditions thinks the emergence of norm is to achieve horizontal solidarity, another Durkheimian condition find the norm is used to identify the group from other groups. Both Durkheimian conditions are concluded as social cohesion. The Weberian conditions find norm is not appear abruptly, they are transfer from the old generation, who were benefit from these rules, to the young generation. It is the tool for the superiors to control subordinates in a complex organization. Weberian condition is to satisfy the need of social control. By discussing the history of American journalism development, this essay outlining the emergence of these four conditions in the late 19th and early 20th century. By doing so, the author found the reason why a new moral norm appeared in American journalism. Compared with European journalism, this article discusses why objectivity as a norm first and most fully appears in American instead of Europe.
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Broadcast journalism is transforming but not dying. Our culture is changing; we are no longer willing to wait around until 6pm to see Rick Ardon deliver the channel 7 news. We have iphones, computers, ipads and android that can deliver us the information we are itching for before our eyes in just the click of a button. In 2001, a study found that 75% of a sample population identified themselves as Internet users, 48% of these were using the Internet for news. In 2004 between 30% and 37% of the Australian population were using the Internet for news compared to 22% of the same sample who had subscribed to pay television service (Ngyuen et al, 2005). Although that was 10 years ago, it demonstrates how the Internet has been a prevalent go-to source for news and the statistics are only growing. Paul Grabowiscz (2014) explains, “Especially the young, are turning to the Internet for more and mo...
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Last but not least, I would like to refer Rohit Bhargava’s speech who is a trend curator, founder of the Influential Marketing Group (IMG). In his article ‘How Entrepreneurial Journalism will change our world?’ reveals that journalism entrepreneurship offers the chance to think of content creation in business terms. As it gains popularity, this field also has the potential to change the way that we find and consume information, and change our world in the
An argument can be made that Journalism is one of the very few professions in the world of media that is handled with some sort of dignity and pride. After reading “The Elements of Journalism” by Bill Kovach and Tom Rosenstiel, I realized how important journalism is to each and every one of us. Whether you’re a writer or a reader, the back and forth exchange between provider and consumer is extremely important in pushing society forward. Journalism after all is designed to challenge society, promote new ideas and spark conversation between one another. Despite the positives of journalism, there are issues that exist within the profession that cannot be excused and cannot be ignored.
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...journalists. Furthermore, the overwhelming consensus of scholars in the field of communication is that there has been a blurring of roles between journalists and their audience, with citizen journalism now an important part of the live broadcast of news. Finally, this review revealed that media convergence is negatively impacting on the journalist’s ability to verify and authenticate sources, as well as challenging the notion of breaking news. Along with this, it is clear that commentary is varied in relation to the extent of the implications of convergence on journalism practice, and must continue to be studied and analysed in order to better understand the future impacts of web 2.0. This field of inquiry is important in understanding the changing landscape of communication, and how journalists can continue to adapt to maintain their authoritative role in society.
No matter what networked journalism is, conventional media organization should transform the way of operating workflows as well as gathering, distributing information. Basically, the more audiences participate in generating contents, the more transparency and the more equality of information will be given to grass roots. The boundaries of journalism will be expended from only to professional journalists or journalism scholars to ordinary audiences. However, one thing what I worry about is, in terms of occupation of journalism, it will be the edge of extinction. If not, there must be the tremendous innovation in professional journalism in order to survive. I argue that they should not be satisfied with gathering information. Instead, professional journalists have to pioneer a way of finding new source of information by adapting brand new technologies or academic methods in the networked journalism
Thirty years ago, if I told you that the primary means of communicating and disseminating information would be a series of interconnected computer networks you would of thought I was watching Star Trek or reading a science fiction novel. In 2010, the future of mass media is upon us today; the Internet. The Internet is and will only grow in the future as the primary means of delivering news, information and entertainment to the vast majority of Americans. Mass media as we know it today will take new shape and form in the next few years with the convergence and migration of three legacy mediums (Television, Radio, Newspaper) into one that is based on the Internet and will replace these mediums forever changing the face of journalism, media and politics. In this paper I will attempt to explain the transition of print media to one of the internet, how the shift to an internet based media environment will impact journalism and mass media, and how this migration will benefit society and forever change the dynamic of news and politics.