What is the meaning of convergence in business?

What is the meaning of convergence in business?

Convergence is the tendency of group members to become more alike over time. In business, this is sometimes called a company “culture,” in the sense that people who work there tend to have similar characteristics, behaviors, and philosophies. Convergence also means that groups have a tendency to police themselves.

What is an example of media convergence?

The best examples of media convergence are Smartphones, laptops and ipads that converge different types of digital media like radio, camera, TV, music, content and more in a simple single device.

What is the best definition for media convergence?

Meaning of media convergence in English media convergence. noun [ U ] COMMUNICATIONS. the fact that newspapers, television, radio, and the internet are becoming less separate as technology develops: Media convergence means that we can now watch a newspaper’s video report on our cellphone via the internet.

What is economic convergence in media?

Economic convergence is when a single company has interests across many kinds of media. Cultural convergence is when stories flow across several kinds of media platforms and when readers or viewers can comment on, alter, or otherwise talk back to culture.

What does media convergence mean?

Media convergence, phenomenon involving the interconnection of information and communications technologies, computer networks, and media content. Media convergence transforms established industries, services, and work practices and enables entirely new forms of content to emerge.

What are the benefits of media convergence?

Benefits of Media Convergence:

  • The content creators can use the platform to generate customized content that is targeted at a specific group.
  • This has also brought about a change in the dynamics of economy as distribution and cost structure is not the same in traditional media.

What does convergence mean in media?

How does media convergence work?

Media convergence refers to the merging of previously distinct media technologies and platforms through digitization and computer networking. Media convergence is also a business strategy whereby communications companies integrate their ownership of different media properties.

What are the different types of convergence?

There are four types of convergence that we will discuss in this section:

  • Convergence in distribution,
  • Convergence in probability,
  • Convergence in mean,
  • Almost sure convergence.