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HI6008 Business Research | Social Media

   

Added on  2020-03-13

12 Pages2325 Words220 Views
Calculus and Analysis
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ASSESSMENT 2 BUSINESS RESEARCH PROPOSALADVANTAGES AND DISADVANTAGES OF USING SOCIALNETWORKS IN BUSINESS1
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Table of Contents1. Project Introduction................................................................................................................32. Project Objectives..................................................................................................................33. Project Scope..........................................................................................................................34. Literature Review...................................................................................................................44.1 Literature problem and Gaps................................................................................................54.2 Literature Opportunities.......................................................................................................65. Research Questions................................................................................................................66. Research Design and Methodology.......................................................................................66.1 Qualitative Research............................................................................................................66.2 Quantitative Research..........................................................................................................87. Research Limitations..............................................................................................................98. Time Schedule........................................................................................................................99, Conclusion............................................................................................................................1010. Reference list......................................................................................................................112
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1. Project IntroductionSocial networks include the internet services that help in interacting with others and sharingand creating content through online communities. For businesses, social networking createsmarketing opportunities for promoting brand, products and services and attracting newcustomers[ CITATION Bus16 \l 16393 ]. As a result, business has focused on creating asocial presence through Facebook, Twitter, LinkedIn and YouTube to reach out to the desiredtarget groups.Usage of social media has helped in obtaining several advantages leading to brand awareness,promotion and customer attraction. However, businesses have also encountered challengeswhile social networking. Lag in the integration process of social media and technology createchallenges for companies in global business environment. Hence, this paper would frame upa research proposal to evaluate the advantages and disadvantages of social media in business. 2. Project ObjectivesThe research proposal aims to evaluate the advantages and the disadvantages of socialnetworking in business. Based on the above aims, the project objectives are listed below: To comprehend the basic usage of social media in business To critically assess the advantages of social networks in businessTo evaluate the disadvantages of social network in businessTo offer suitable recommendations for improving the use social networks in business3. Project ScopeIn the contemporary business environment, usage of social media has increased drastically.With globalisation, business has to bring changes in the organizational structure and long-term strategies of the business. The companies now need to focus on international market and3
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develop skills and capabilities that would satisfy the needs of the global consumer market.The internet based platform to maintain communication with the vast global market. It hasbecome essential for the business to invest in social media integration process to maintain itsglobal presence[ CITATION Abu14 \l 16393 ]. Social networking has helped business to become more interactive in nature. The companiesare able to analyse the trend of the market and alter the strategic outlook to cater the needs ofthe customers. However, there are certain drawbacks related to the implementation of socialmedia, which needs to be addressed for enhancing the positive outcome on thebusiness[ CITATION Hin141 \l 16393 ]. The scope of the study includes assessing theadvantages and disadvantages of the social networking for business to frame up strategies toovercome the challenges of social media in business. 4. Literature ReviewSocial media is a group of internet based applications that are developed on the ideologicaland technological foundation of Web 2.0 and allows sharing of content generated by the user[CITATION Kap10 \l 16393 ]. The introduction of the social network has brought new arenafor the business in terms of content creation and sharing. Usage of social media for businessis manifold. Social networking has helped business to attract more customers and create anopportunity for better customer management relationship. Connecting and interacting withthe customers on the social platform has generated trust among the customers. It enablesbusiness to become attractive universally and create a strong influence on the acceptance ofbuyers[ CITATION Haj14 \l 16393 ]. The usage of social media in the business can be analysed with the help of different theories.Social Media Engagement Theory is a theoretical framework that explains the interactionbetween the organization and the customers. This theory is built upon the concept of user4
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