Advantages and Disadvantages of using online and Social Networks for Business

Assignment 2
Name : Maulik Dhirubhai Gajera
Student ID : BCM8329
Subject Code : HI6008G_T1_2018
Due Date :
Course Coordinator: Mark Boulle
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Contents
Introduction..............................................................................................................................3
Project Objective......................................................................................................................3
Project Scope............................................................................................................................3
Literature Review.....................................................................................................................4
Research Question....................................................................................................................5
Research Design and Methodology..........................................................................................6
Qualitative method of research.............................................................................................6
Quantitative Method of Research.........................................................................................7
Limitations of the Research Work............................................................................................7
Time Schedule..........................................................................................................................8
Conclusion............................................................................................................................... 8
References................................................................................................................................ 9
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Advantages and Disadvantages of using online
and Social Networks for Business
Introduction
In the last decade, there has been a boom in the use of social media applications and other
web 2.0 technologies, such as weblogs, content marketing, Social Network Sites (SNSs), and
other secondary sources. Employing the internal social media apps leads to improved
communication among the workers. It also improves the collaboration among them, assists in
knowledge management, creating innovative products and services, and helps in social media
marketing. Nowadays, companies are incorporating social media platform to build customer
relationship and brand image. In addition, recruitments and hiring of employees are also
depending on social media applications and platform. Social media is not only an important
business instrument for large enterprises but it also helps the small businesses to grow and
sustain in the market. The main aim of this study is to determine the advantages and
disadvantage of social media platform in the business world, especially for the SMEs in
Australia.
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Project Objective
The objectives of composing this research paper are:-
 To determine the most efficient social media platform for marketing and sales
promotion for SMEs of Australia.
 To compare the social media with other traditional marketing platforms.
 To analyse the factors that hinder the wider adoption of various social media
platforms in SMEs.
Project Scope
The purpose of carrying out this research is to analyse the importance of social media in the
business marketing of SMEs and other large scale corporation. The survey are carried out in
order to understand the penetration of social media in different industries of Australia. The
research analyses the differences between the different social media platform and their
effectiveness. Once all the above-mentioned points are studied, the advantages and
disadvantages of social media on businesses in Australia is analysed.
Literature Review
In the assignment 1, many literatures were studied and reviewed as per three different
divisions. First division talked about different social media channels for marketing. The
second and third division explained the advantages and disadvantages of social media
respectively.
In the recent times, the use of social media in the corporate world has grab the attention of
marketers, business analysts, and investigators. Numerous research have been carried out just
to determine the effect of the social media on both internal and external business
environment. In the case studies reviewed by Richter and Riemer (2012), large knowledge-
intensive corporations employed social networking sites. In the study, three modes of
business SNS, such as identification of experts, strengthening existing relations, and
developing personal context were identified.
Weblogs are one of the widely used social media platforms that are employed by the large
number of companies. They assist in establishing a formal mode of communication between
the CEO and the organisation’s customers (Efimova and Grudin, 2013).
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