Social Media Usage and Impact
Added on 2020-03-28
17 Pages4157 Words133 Views
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Advantages and Disadvantages of SocialNetworks in Business
Table of Contents1. Introduction............................................................................................................................32. Project Objective....................................................................................................................33. Project Scope..........................................................................................................................44. Literature Review...................................................................................................................4Summary of Literature Review..............................................................................................4Problem statement..................................................................................................................6Research Gap.........................................................................................................................75. Research Questions................................................................................................................7Primary Question...................................................................................................................7How the social media is impacting the activities of business organizations?........................7Secondary Questions..............................................................................................................76. Research Design and Methodology.......................................................................................7Qualitative Research..............................................................................................................7Reliability and Validity of Data.............................................................................................8Sampling and Sample Size.....................................................................................................8Data Collection Method.........................................................................................................8Variables Specifications.........................................................................................................97. Research Limitations..............................................................................................................98. Time Schedule........................................................................................................................99. Conclusion............................................................................................................................1010. References..........................................................................................................................11Appendix..................................................................................................................................14
1. IntroductionSocial media has really altered the modern day world and it has played a vital role inenhancing the people to people contacts across the world. The social media platforms takes avital part in creating the world a small area by bringing people from different culturalbackgrounds and nationalities much closer to each other. The social media platforms havehad an important impact in the world of business as well. It has improved the communicationpattern and understanding among the various brands and their consumers in the marketplaceand this has allowed the business establishments to foster a strong bonding and associationwith their customers in the market. According to Kietzmann et al., (2011), the socialnetworking websites like Facebook has played a very crucial role in assisting the businessestablishments to engage and communicate with their consumers in the market. The majorityof the companies these days are utilising social media to further their business goals andobjectives in the market. Social media has become an important share of their recruitment,communication and marketing strategies (Aral et al., 2013). With the help of social media,the business establishments have been able to take feedbacks and opinions from theircustomers in the market regarding the type of products that they want to use and how muchsatisfied they are presently with the goods and facilities given by the company. Smith &Zook, (2011) has stated that the business creations are able to understand the presentconsumer trends in the marketplace and this enables them to develop and cater appropriategoods and facilities to their consumers in the marketplace which fosters consumer fulfilmentand customer loyalty in the marketplace. This research will invariably try to give more lighton the advantages and disadvantages of using social networking sites in business and how itis contributing to the future growth and success of an organisation. 2. Project ObjectiveThe main aim of this project is to know the importance and contribution of social networks inthe corporate sector. This research will provide a detailed explanation about the advantagesand disadvantages of utilising social networks in a business. This would help in the effectiveunderstanding of the implications and consequences which are related with the use of socialnetworks in business. The investigation objectives have been stated below:To evaluate the advantages of utilising social networks in modern day business.
To assess the disadvantages and implications of utilising social networks in businessTo develop research recommendations in terms of advocating an effective socialmedia strategy for modern day businesses 3. Project ScopeThe scope of this research project includes the business establishments which are presentlyutilising social media platforms in their business. According to Fuchs, (2017) there aredifferent kinds of social media platforms (or social networking sites) which are being utilisedby different business establishments and they include Facebook, Twitter, Youtube andLinkedIn. The social media platforms have been effective business platforms which enablesthe business formations to communicate and join with their consumers in the market place(Edosomwan et al., 2011). They are able to realize and identify the wants and likings of theirconsumer. By utilising the social media platforms, business formations are able to populariseand promote their goods and facilities among the people in an effective manner and this helpsthem to increase the market demand for their goods and facilities (Denzin & Lincoln, 2011).This research will mainly focus on providing a detailed understanding about the utilisation ofthe social networking sites by the business organizations and evaluating their drawbacks andbenefits in an effective manner. 4. Literature ReviewSummary of Literature ReviewSocial media enables an organisation to ensure greater engagement and association with theiremployees. It has facilitated in the process of internal communication which was consideredto be a challenging task till a few years back. In the view of Heller Baird & Parasnis, (2011)the social media has helped the employees of the organisation to communicate with eachother in an effective manner and this has allowed them to remain updated with all the latesthappenings taking place in their business. By utilising social networking sites organisationhave been able to facilitate knowledge sharing between their seasoned and new employeesand this eventually helped them to improve and enhance the performance of their newlyinducted staffs (Kim et al., 2010). The business establishments monitored the activities andperformance of their employees and provided their feedbacks about their performance on the
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