Final answer:
Current events have wide-reaching impacts due to globalization and interconnected financial markets, affecting organizations, individuals, and local entities. The media, competition, and the global financial system's functioning are areas significantly influenced by such events.
Step-by-step explanation:
Current events can indeed have significant effects on organizations that are geographically distant from where the events take place. For example, when terror attacks take place in Europe, the international community looks to the president of the United States for the official stance, reflecting the interconnected nature of geopolitical relationships and media focus. Furthermore, globalization and advances in communications and information technology have led to increased levels of competition for firms, compelling them to adapt to a growing pool of competitors from different regions and countries.
Global connectivity does not stop at businesses; it also touches individuals and local entities. Financial markets are so tightly interconnected that a financial crisis in one country can trigger a global effect impacting investors and ordinary citizens alike. Local news serves an essential role in informing citizens about government policies and local economic activities that might be directly influenced by global events. The workplace can serve as a microcosm for the larger effects of global events. In sectors like education, those employed are frequently surrounded by similarly educated colleagues leading to a shared perspective on policy and political issues. Finally personal financial actions such as taking out a loan, buying products from abroad or donating to international charities, illustrate how everyday interactions contribute to the global financial system.