Challenges Faced by Social Media Companies and Trump's Economic Policy Impact on China
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This report discusses the challenges faced by social media companies due to government regulations and the impact of Trump's economic policy on China. It covers topics such as privacy, data integration, and trade policies.
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Global business environment
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................4 a. Risk which is faced by firms of social media from the regulation of government and their impact on organisation.................................................................................................................4 b. Various approaches of president Trump and their impact to the economic policy of China...5 CONCLUSION................................................................................................................................6 REFERENCES................................................................................................................................6
INTRODUCTION Global business environment refers to the environment of different countries of world will have various elements outside the organisation, which influence decision making on use and capabilities of resources in business. This report involves problems faced by the social media companieslikeFacebook,twitterandInstagramfromvariousregulationandlawsof government. Different approaches of president Trump's to the policy of economy are explained in this file which affects the foreign economy of China. MAIN BODY a. Risk which is faced by firms of social media from the regulation of government and their impact on organisation. Social media companies are facing lots of problem due to different regulation which is proposed by government. Privacy, data portability and election integrity are some of the factors which government regulates by their different laws and regulation on the social media. Some of the social media companies are argued of different regulations which affects the growth of company because social media is an important part of life of most of the people in the world but some people does not operate these application in the ethical manner. This will create problem in the life of other people (Bashith and et.al.,2019). People will share their private information and pictures on accounts of social media. Due to the problem of online harassment government will imposeddifferent laws and regulations on social media firms so the Facebook will make the policies as how they keep women safe in the online. The laws of government states that social media platforms will have to remove all the things which is illegal from the sites of Facebook by continuously reviewing the content of complaints. If these requirements of government are not fulfilled by the company. Then both company and user have to pay fine of upto € 5m (Social media: How can governments regulate it?, 2019). Platforms of social media have to face the problem of fines if they did not delete illegal factors from the sites within an hour. Government of some countries also introduces regulation of general data protection which protects the data of people using the social media and if the company did not provide this facility then it will affect their business largely (Hanousek, Shamshur and Tresl, 2018).
The companies such as Facebook, Twitter, Instagram faces the risk of criminal penalties by laws of government and their executives will send to the jail for up-to 3 years. These companies also face the problems of financial which is 10% about the global turnover of organisation. Government makes act of online safety of people with power to delete harassing and abusive posts on the sites of social media. The head of the E-safety will issue the notices to the social media organisation to delete the abusive post within 48 hours otherwise they have to pay fines. This step of government will help the Facebook, Twitter and Instagram to find the criminals by applying various new technology in their applications. The impact of government regulations on social media companies that they have to change their various policy as per the government acts. Company have to pay lots of amount to government as a fine if they are following their acts and regulation on their sites. The searching of the people will be limited on these sites because of different regulations which is proposed by the government (Honea, 2017). These laws of government will give various advantages to the Facebook, Instagram and Twitter that they will provide more privacy to their users. Ifproper privacy as per the regulation of government are not maintained then social media platforms will decreases their customer base which will leads to the heavy loses in future. By not adopting these laws in social media companies, then this will decreases the loyalty and trust of users and they do not feel free to enjoy different sites of social media platforms. Impact of government regulations will protect the people who are using the accounts of social media platforms but creates various problems for companies. Different laws of privacy which is imposed by the government will lead to the loses to the because people are more comfortable while using their accounts because social media companies like Facebook, Twitter and Instagram have to invest large amount of money to maintain privacy. For example, If social media platforms are not applying the laws and regulations of government then it will affects the image and reputation of business in front of their users. Due to the laws and regulation social media company have to changes their terms and conditions as per laws which take lots of time and efforts. Company will take various major decision related to online harassment and privacy of social media it requires lots investment which affects the financial conditions of social media company.Duetocybercriminalsimageofsocialmediaplatformsaredecreasingand
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government will brings various penalties for the companies that will create negative image of social media platforms because of the cyber criminals. Theoretical perspective: Contingency theory states that effectiveness of leader is depend on how their style of leadership matches with the different situation of business. As per this theory there is no one best way to lead the company's people. There are various internal and external elements which gives the best idea to lead the people in different business situations. So success and growth of social media companies such as Facebook, Instagram are all depend on their leader style of leading the people as per the situation of business. There is no need of skills and abilities of leader because government makes various rules and regulations on continuous basis and the leader lead their team according to the situation to minimize the risk. For example, leader of Facebook lead their subordinatesby so thatthey will run their business operationaccording to the lawsof government to reduces the problem and risk government penalties and fines. b. Various approaches of president Trump and their impact to the economic policy of China. Economic policy of Donald Trump is to make the America great again. Trump makes the various approaches which affects the economy of china and creates tension between the largest economyofworld'scountries.ThedifferenteconomicpolicyofTrumpfocusesonthe protectionism of trade, immigration reduction and tax reforms of corporate and individuals (How Will Donald Trump’s Policies Affect Trade With China?,2016). His approach is also to clean power plan by reviving the coal companies. The aim of Donald Trump is to decrease the deficit of trade by shifting the policy of trade from the different agreements of free trade to the deals of bilateral trade. Trade war will highly damages of both the business and customer of both the countries and it will affect the growth and success of both economy. For example, to protect the US Trump will take the various actions to protect the economy of nation at the time of war between the china and US. Policy of Trump will follow the nationalisation of economy of country (Vought, 2017). Trump promised the people of country to cut the rates of taxes from 35 to 15%. Economic policy of Trump has three main factors so the first one is the disconnection between the intent and impact. The large taxes of corporate are deleted by the politician which increases the level of competition and affects the profitable companies of China.
The impact of Trump economic policy in China is affects the economy of China by deficit budget, monetary policy, tariffs. Trade and supply chains will get diverted to the higher cost Chinese producers from the low cost in China (Xiujun, 2018). People of China will faces the problem of increase in taxes which will increases the problem of high inflation in country's economy. Economic policy of trump will have negative impact on the economy of china that will decreases the supply of products and services from country. There is increase in the rate of taxes will decreases infrastructure spendings of customer. Donald Trump will increases the chance of loses of Chinese companies in the by making the new economic policy. The strategy of Donald Trump will makes the better US in world and decreases the chances of other company to grow in future (Mark, NAITOi and ITO, 2017). Policy of free trade of trump will brings unemployment in China because people will faces the problem of job loses. Theoretical perspective: General equilibriumtheory refers to the analysis and evaluation of different variables of economy and interrelations and interdependence which helps to understand economic system of country. As analysis from this theory the policy of free trade of Donald Trump will brings together effects and causes of changes in quantity and prices of products and services of whole economy of China. There is no equality in demand and supply of products of Chinese company due to the free trade policy of Trump. Customer will not get satisfied by the products and services which affects the Chinese economy. CONCLUSION From the above study it can be concluded that various challenges faced by social media companies in their business operations related to their privacy policy, data integration etc.Global environment of business refers to the environment of the various countriesin which people operates their accounts of social media so that they will connected with the people loving in different countries. Trump makes various economic policies which enhance the success and growth of the economy of country. Economic policies of different countries are also affected by the new policies of Trump. The aim of the Trump is to make the economy of US best in the world so he makes various approaches as per the economic policy.
REFERENCES Books and Journals: Bashith, A. and et.al.,2019. Business strategy and innovation in weather anomaly entering mea and cafta in the ‘BREM” industrial business centre in Madiun East Java Indonesia. Hanousek, J., Shamshur, A. and Tresl, J., 2018. Innovation Decisions in Uncertain Business Environments of CEE Countries.POLITICKA EKONOMIE.66(3). pp.287-301. Honea, H., 2017. MKTG 476 Marketing and Business in Networked Environments. Mark, M.A.T.S.U.N.E., NAITOi, H. and ITO, T., 2017. Acquiring English Communication Skills in Global Business Environments. Vought, W.X., 2017. E-leadership in practice: The components of transformational leadership in virtual business environments. Xiujun, X., 2018. Global Economic Governance: China Finds Its New Role.China Int'l Stud.68. p.108. Online: How Will Donald Trump’s Policies Affect Trade With China?. 2016. [Online]. Available Through:<https://www.fxcm.com/uk/insights/how-Trumps-policies-affect-trade-china/> Socialmedia:Howcangovernmentsregulateit?.2019.[Online].AvailableThrough: <https://www.bbc.com/news/technology-47135058>