In the late 1980s, Central and Eastern European nations (CEE) rejected communism and embarked on a journey towards free-market democracy. As part of this transformation, the Romanian economy transitioned from communism to capitalism. The purpose for our paper is to suggest insight from the Romanian experience that may be useful for nations in Asia, Africa, Middle East or South America that maybe be undergoing a similar transition. The main results of our paper is to substantiate the precepts of institutional theory, that a system is best transformed through external, international pressures. Our contribution illustrates this transformation through the case studies of Romtelecom, Dacia, and Petrom, Romanian state-owned enterprises (SOE) privatized by foreign multinational corporation (MNC). We distinguish between formal and informal institutions with the latter tending to be overlooked by traditional researchers. Through these longitudinal surveys we argue that multinational corporations are possibly the best generators of informal institutions.

Sustainability is an increasingly important subject matter for universities, which are faced with the dilemma to either help shape the current debate or risk becoming obsolete in the future. This research presents an overview of the main factors, shaping the future of universities, from climate changes and "going green" trends to entrepreneurship initiatives that can provide real economic growth and development. In this fourth industrial revolution, technological advances profoundly impact higher education initiatives; traditional universities must find creative solutions to thrive and develop in this era. The solution to sustainability that the authors of this chapter propose is to borrow key strategies from tech companies, which could be replicated at a university level. Among the most critical factors in the quest for sustainability is the continuous investment in faculty development, which can result in a culture of entrepreneurship and ecology.

More than one hundred years ago, once the radio appeared, mass media started to be more pronounced. Mass-media market diversified its offer, and the quality and creativity of economical agents determined a reassert on the competition and performance scale. For our research in mass media field, we distinguish two vital aspects of economic quality and performance: audience and financial results. In this section we will try to follow the evolution of the main players from the Romanian audiovisual market on the radio segment, taking into account these two variables: audience and financial results. Quality and performance in mass-media are two elements desired on one side by mass-media producers: the owners and employees from this field, and on the other side, by mass-media customers: audience and publicity buyers. We analyse the aspects of quality and performance in Romanian media industry in o period of rapid change. The changes are on multiple levels, and the most accentuated regards the consumer’s behaviour, market environment, technological changes and legal regulations. The changes in the consumer behaviour are determined by their perceptiveness towards the digital world. Quality and performance in mass-media are two desired elements, on one side by the mass-media producers: owners and employees in the field, and on the other side by mass-media customers: audience and publicity buyers.

Preparing for the future, it is essential to understand the flux of the bytes. In the digital world, mass-media market will be different: the receivers will be able to access not only 50 TV channels but 5.000 or maybe even 50.000! The audience rate will be known for each TV show as well as the hosts rating and what other offers there are for the same product segment in the other part of the world. The divergences about the audience survey determined by the advertisement price list will be gone because in the digital system we will be aware every moment of the audience rate. Mass-media consumers will be able to make their own program schedule, chosen from an almost unlimited number of possible offers and available choices. In July 2015, Romania will change the analogic TV emission system with the digital one. We are trying to analyze in this paper work if the economic actors that operate the TV sector in Romanian media market, are ready for this change. Apparently this change is not simple and without risks. Even though it may be expensive, it can be the only surviving solution for all the companies part of this sector.

Analogic technology, the old ways of production, distribution, consume and economic fundaments of the mass-media industry are left behind by the new demands and requirements of the creative economy in the digitalization context of the mass-media system. In fact, not only mass-media goes through this transformation, but the whole society. The implications of the digital era are far long to be over and they will affect all mass-media segments: written press, audiovisual, on-line press and social media. The economic aspects, as well as the technical ones, editorial, distribution and final consumers aspects, all will be different from what we experienced in media industry until digitalization. The question is, are we ready to enter into a new economy: the digital economy? Are we ready to enter into a new culture: the digital culture? We entered in the smart world, but do we understand what is happening? The editorial teams that experience a fundamental change of thinking, will be able to overcome this times challenges? These are some of the questions that bothered us along this research. We tried to block in the logic of the system with the new varieties and variables determined by the digital era in order to understand it. We tried to discover the elements whereby mass-media industry and economy can profit more of the digitalization advantages. We tried to find economic solutions for the negative consequences produced in the process of media industry digitalization to be attenuated.

The development of the internet and the expansion of digitalization changed the way society works, especially mass-media. The question is if the internet was an advantage or a disadvantage for mass-media? Apparently, on one hand digitalization determined the reduction of production and distribution costs but also content diversification. At the same time, social media and rapid documentation brought an accession in the quality of journalistic product as well as the entering on the market of multiple actors, in consequence, more ideas more carefully selected. On the other hand, it is possible that the internet may have increased the volume of information, detrimental to its credibility. In other words, the quality of the journalistic act and its results have been altered or at least crippled. Methodologically, starting from the observation of the actual situation in mass-media industry and economy, we propose to make a content analysis. We will talk about aspects concerning the challenges and the opportunities from media industry in the digital context, analyzing the opinions of other researchers about the topic. We are trying to present the concepts that we sustain in the light of some reference works and to give examples from the reality of Romanian and international mass-media economy. The mass-media sector in the digital world is confronting with opportunities and challenges. The change isn't simple and without risks but is expensive and may be the only way of survival for each of the societies in this sector. In order to build successful businesses in media industry just like in any other sectors, sustainable growth has to be the main characteristic. Sustainable development, predictability and upward economic growth are possible only taking into account the context in which the organization operates. Adapting press organization to the external environment, a creative response to market challenges and optimal management of the financial capital but mostly of the immaterial one are some of the challenges for the involved societies in the mass-media digital era.

We wonder why the creative economy concept causes so much passion, excitement and so high expectations. Because imagination, creativity, competence, fantasy, individual talent, ingenuity were and still are today catalysts that led to society development. How does creative economy, that seems to promise so much, distinguish from other economic stamps which imprinted the human community in the course of history? These are some of the questions we will try to answer in this paper work, having in mind as objective the study of communication processes and mass-media. Generally, the research over mass-media system considered that the content analysis may provide the means to understand the society we live in. In terms of methodology, starting from the observation of mass-media industry and economy actuality, we propose to make an analysis of content. We will raise issues regarding concept definition and delimitation, historical development and media industry analysis from an economical perspective, analyzing the opinions of some other researchers about these subjects. We will try to present the concepts we support having in light some reference paper works and to illustrate with realities from Romanian and international mass-media economy. We will go through literature and we will try to support with empirical data the subjects discussed in theory. To achieve these things, we will use relevant statistical and official data of other researchers. In the examination of mass-media economy we will study economical models, comparative analysis and analysis of international organizations positions. In the current situation, mass-media is part of a technological and economic transformation, like the whole society is. An economical approach of media industry is important today both from the scientific and practical point of view. Most of the decisions taken by the factors that lead the businesses in media sector are largely influenced by financial resources. In this aspect, the economic approach of media sector is extremely relevant to understand the way firms act in the media sector and what are the perspectives of this industry.

In this paper we have tried to define the notion of communication and delimit the concepts of direct communication, mediate communication and mass media communication. Unlike usual approach, we have brought to light the economic elements of the communication process. In this respect, we have tried to show that both linguistic structure and the subsequent definitions of the communication notion contain an ample economic feature. The means of communication have always been important, whether we speak of agrarian, industrial or informational society. In the first stage, companies that provided transport services had to handle the agricultural products which were supposed to be carried to the markets or consumers. In order to carry out these services efficiently, roads were built to enable merchandise transport. During industrial age, the necessity of transport still remained crucial, but there was a slight change in products. This time energy was the main product which needed transporting. Whether we speak of the transport of coal, oil, gas or electrical power, the industry dependence on energy and, implicitly, on energy transporters is indisputable. This situation led to the building of main pipe lines for energy transport. Nowadays, informational society needs information transport. Of course, goods and energy are still being transported today, but our society will hardly do without communication main lines. In order to meet the existing needs in this respect, we witness a development of the communication infrastructure. Contemporary progress is strongly connected to network communication development. Whether we refer to internet, fiber or wireless networks, all of them transport each and every second huge amounts of information. Society, conquered by communication, discovers each passing day new elements and creative approaches through which the communication process between people can be catalyzed and maximized. In all these attempts, the communication process is only the means to achieve higher goals. These interests cause an increase in performance of the communication system. Whether we speak of local, national or global interests, the key factors for mass control are ontologically related to the communication system. This field has been explored by researchers over centuries, but not enough, because todayâ€(tm)s background and challenges are more complex than yesterdayâ€(tm)s. In the present paper we are placing ourselves somewhere between the collection of past experience and future uncertainty, marked by the passion and duty to explore. In the communication field, we are in a similar position to medical research; when we discover a treatment, we realize that new types of viruses have appeared which require new solutions. The working ground of mass media is extremely moving. Whether we speak of technology, finance, competition, interests, demand and supply or all of them, the cycle of changes happens more and more rapidly, almost stunning. The above mentioned ideas have motivated us in approaching this topic, which we invite you to study.

Globalization is a reality that we cannot deny or run away from. The economic, political or social issues, even if they have a starting point, spread very quickly, covering large areas in a very short time. Modern communication systems enable crisis transfer. They also bring us information about the actions that have been taken in order to overcome those critical circumstances. Does recession have positive aspects, too? If it has, what are these positive aspects and how can they be used to produce highest benefits? We will try to describe the concepts we maintain by means of some notorious works written by authors with a vast experience, some of them being Noble Prize winners. The idea that we propose is to bring hope out of this situation generated by crisis and globalization. The economic crisis has created a huge opportunity to the mass-media system: it brings the required information to citizens from different nations. Taking this into account, mass-media has played and still plays an important part in making the people involved find solutions and communicate whenever the decision makers are trying to hide facts. With the help of innovation and transformation, let’s look for solutions to develop our abilities, relationships, products, markets and results. We should never forget that the greatest and most impressive changes are often born in times of crisis.