HI6008 Business Research Assignment Social Network

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1BUSINESS RESEARCHAssignment 1 Literature Review: Submitted to the Holmes Institute:Seyi LagokeIn partial fulfilment of theBusiness Research (HI 6008S_T1_2017)By:LILY KARKI, Student ID: FAS2943
2Advantages and Disadvantages of Using Social Networks in BusinessIntroductionSocial network is the online community, understanding the group, social graph of the people whotalks about the product or business on Twitter, Facebook and Snap chat is more significantlyactive in the market place which is focused solely on brand and promotion. Social network isway of communicating with the public and organization clients and societies and can be apowerful tool for a businesses. According to Joe Cothrel, Lithium Technologies, INC “Socialmedia is any online platform or channel for user generated content”.According to Erik Quadman ”Social media is the biggest shift since the industry of evolution”,“Social media isn’t a fad, it’s a fundamental shift in the way we communicate”. It is now thenumber one activity on the web and can be incredible and useful instruments.“Web –based social networking occurs through a variety of websites that permit users to sharecontent, interact and develop communities around similar interests. Examples include websitessuch as Facebook and Linkedin. Social networking isn’t for everyone , but it’s now such a bigpart of all our lives, whether we accept it or not it can no longer be ignored.”Online social networking encompasses networking for business, pleasures and all points inbetween. Social Networking platforms may allow organizations to improve communication andproductivity by disseminating information among divergent group of employees in a furtherefficient manner.
3Social networking is the grouping of individuals into specific groups and it is the practice ofexpanding the number of one’s business and/or social contacts by making connection throughindividuals.Social media is the collective of online divulgence channels dedicated to social-based input,interaction content-sharing and collaboration. With the advance of technology and the creation ofsuch thing as social media our lives became more “Simple”, “Faster” and “Easier”. We can talkto and see people from all around the world. We can share our thoughts, opinions and tastes withthe entire world and get feedback from people like us. We can learn new things and performeveryday tasks at work. The number of large and small business to promote their product andservices. Social media can be used to publish business and event details.Advantage of Social network in businessSocial network empower to reach the right customers without spending a fair amount of moneyon advertising or encouraging while in touch with recent customers. Due to this technology, firmis able to cope up with the changing mode or promotion tactics accordingly. The business needsto grow and adopt the new ways of method to stay of the competition which leads ahead ofcustomers. To get or connect with the customers, technology is making easier than ever before.Social network promote a site or business at no cost. For example, if we are opening a business,we can publicize by creating a business profile through some of these networks like Facebookand Instagram. Those business can upload the pictures, logos and any kind of details about themwhich can make visible for mutual friends and all the users who visit the profile. The business
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