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HI6008 Business Research Assignment Social Network

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Holmes Institute Sydney


HI6008 Business Research (HI6008)


Added on  2019-10-09

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1BUSINESS RESEARCHAssignment 1 Literature Review: Submitted to the Holmes Institute: Seyi Lagoke In partial fulfilment of theBusiness Research (HI 6008S_T1_2017)By:LILY KARKI, Student ID: FAS2943
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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 significantly active in the market place which is focused solely on brand and promotion. Social network is way of communicating with the public and organization clients and societies and can be a powerful tool for a businesses. According to Joe Cothrel, Lithium Technologies, INC “Social media 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 the number 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 share content, interact and develop communities around similar interests. Examples include websites such as Facebook and Linkedin. Social networking isn’t for everyone , but it’s now such a big part 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 in between. Social Networking platforms may allow organizations to improve communication and productivity by disseminating information among divergent group of employees in a further efficient manner.
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3Social networking is the grouping of individuals into specific groups and it is the practice of expanding the number of one’s business and/or social contacts by making connection through individuals.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 talk to and see people from all around the world. We can share our thoughts, opinions and tastes with the entire world and get feedback from people like us. We can learn new things and perform everyday tasks at work. The number of large and small business to promote their product and services. 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 money on 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 needs to grow and adopt the new ways of method to stay of the competition which leads ahead of customers. 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 Facebook and Instagram. Those business can upload the pictures, logos and any kind of details about them which can make visible for mutual friends and all the users who visit the profile. The business
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