Digital Technology and Business: The Role of Social Media

Digital
Technology and
Business

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY .................................................................................................................................3
Importance of social media.........................................................................................................3
Development of social media ....................................................................................................4
Social media technology.............................................................................................................4
Social media technological platforms.........................................................................................5
Business organisations which use social media .........................................................................5
Effectiveness of social media as a business tool.........................................................................5
Relation of social media to course content ................................................................................6
Relation between digital technology and management theories ................................................6
CONCLUSION ..............................................................................................................................8
REFRENCES ...............................................................................................................................10

INTRODUCTION
Digitization is transforming the corporate world constantly. Advanced digital technology
is being used in every aspect of business. This report focuses on social media and provide
profound information about the development of social media and current utilisation in the
corporate world. Information about social media platforms and the effectiveness of social media
as a business tool is mentioned in this report. In addition to this, relationship between technology
and business theories, management structures and practices is provided in this report. In addition
to this relation between digital technology and management theories is also given in this report.
MAIN BODY
Importance of social media
The purpose of social media as the topic for this report is to highlight the important role
social media plays in the current corporate world. One of the reason behind the significant role
of social media is the large amount of social media users present on a global scale and the effect
social media has on purchase related decisions of high amount of consumers. 76% of social
media users purchase products on the basis of social media posts viewed by them. Usage of
social media as a part of the marketing strategy of an organisation is essential for attaining
various marketing goals effectively (Coles, 2017). Social media helps business organisation
interact with their consumers directly and communicate various business activities to a large
number of consumers. Business firms presently are heavily dependent on social media to
connect with their consumers and construct a loyal consumer base. Enterprises need to
understand every aspect of social media in order to gain success in their business endeavours by
securing high sales. The topic of social media usage for accomplishing business objectives is
significant due to growing influence of social media on consumers and advanced technology of
social media platforms which enables business effectively mange their business.
Development of social media
One of the first social media site was Six degrees which was formed in the year 1997. the
early 2000's were point of social media rise which started with introduction of My Space in the
year 2003. soon after this several other social media platforms gained high popularity among
young age consumers swiftly. This swift rise of social media platforms became a suitable place
to promote business organisation and construct a brand identity (e Silva and Elo, 2018). Most