Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat WhistleblowersWhat is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen MonksHow Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic StrategiesGeopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional FranchisesIn the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
We often hear the term fourth estate being applied to the media. The term refers to the four pillars of democracy and the media is the fourth pillar and an important one at that. Ever since many countries adopted democratic norms of governance, a vibrant and a free media were thought to be the necessary conditions for a healthy democracy. This is because in any democracy, there needs to be a medium wherein the authorities and their actions are commented upon and analyzed critically.
Without self-reflection and self-debate, no democracy can hope to actualize the noble principles behind the conception of freedom and equality. Further, the media is vital to the countries because of its inherent nature of questioning and criticism that is directed at the ruling dispensations. This means that without a free and fair press, no country in the world can hope to aspire to democratic norms of governance.
In the days before the advent of the television and the internet, the print media were the only source of information for the people.
With the advent of television, the ground rules changed since people could view the actions and the statements of their fellow citizens and the elected representatives live and hence, could form their opinions about them. Further, as the saying goes, a picture speaks a thousand words, and hence the moving images that are beamed into the living rooms on the Television did spark a revolution of sorts among the countries of the world. Moreover, as the legendary media theorist, Marshall McLuhan put it, the medium is the message and hence, TV radically altered the way in which countries and their systems of governance functioned. This has had a cascading effect on all forms of the body polity.
Next, the advent of the internet was another game changer. With the rapid spread of information technologies and the easy availability of information about hitherto closed countries, people finally had a chance to communicate and articulate their concerns and needs as well as their aspirations and dreams along with their anxieties and fears to others in faraway lands. This meant that internet went one-step ahead with the interactive format allowing for rapid dissemination of events and happenings across the world to anyone who had access to a computer and an internet connection. In addition, the advents of social media like Facebook and Twitter provided fresh impetus to the notion that media are a tool of revolutionaries as well as reactionaries. In the recent past, the Arab Spring was an example of a successful protest that was wholly driven by social media.
We have discussed how media should be unshackled and unrestrained to ensure a representative democracy. In addition to that, the media themselves have to introspect and analyze whether they are doing their job in accordance with the noble intentions that underpin the media industry. Only when there is critical, self-analysis and effective regulation of the media by the government can there be a symbiotic relationship between the various pillars of democracy that is healthy and productive.
In conclusion, we are living in extraordinary times and the challenges of the future call for extensive changes to be made in all aspects of our lives. The media has a preeminent role to play in this future and hence, there is a need more than ever for the media to perform their assigned roles professionally.
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