Report on Social Networking in Business
Added on 2020-05-11
56 Pages13283 Words30 Views
Leadership ManagementProfessional DevelopmentMarketingDesign and CreativityData Science and Big DataStatistics and Probability
|
|
|
Running head: Project Management
Project Management (Msc)
Name of the Student
Name of the University
Author Note
Project Management (Msc)
Name of the Student
Name of the University
Author Note
2PROJECT MANAGEMENT
Executive Summary -
The research is performed on the advantages and disadvantages of social networking
practices in business. The major purpose of the report is to examine the advantages and
disadvantages in incorporating social networking in business. Social networking practices in
business are a broad area of discussion; thereby, to avoid vague outcome from the research,
business operation of Iceland Food Retail Limited has been considered in the analysis. The
research aims to investigate the potential advantages and disadvantages of social networking
practices in business. The introductory chapter of the research introduces the concept of
social networking practices; particularly about how it is implemented in businesses. In order
to derive a proper understanding about the facts and findings in existing studies, a detailed
review of literature has been performed. The findings of the review implies that social
networking are emerging practices and it enables businesses to extend their operation, reach
the wide market and better understand the customers and their purchasing behaviours.
However, the review also provides the fact as social media is free and open platforms,
maintaining a healthy public image in terms of brand, products and services could be
challenging, as negative feedbacks are welcome in social media. Likewise, there are several
contradictory facts such as security, privacy, trademark and copyright issues related to social
networking practices have been found in the existing papers. Nonetheless, despite the fact
that social networking practices are new in nature and a developing field, studies have only
paid attention to traditional issues such as security and negative feedbacks. The major issue
is, even though social networking practices are providing significant businesses opportunities,
the businesses are not much concerned about obstacles involved in the process. SMEs are
following the trends of social networking practices but they have weak remedies of the
challenges. To perform the analysis, both primary and secondary data collection methods
have been applied to the study. The secondary data has been collected from books, peer-
Executive Summary -
The research is performed on the advantages and disadvantages of social networking
practices in business. The major purpose of the report is to examine the advantages and
disadvantages in incorporating social networking in business. Social networking practices in
business are a broad area of discussion; thereby, to avoid vague outcome from the research,
business operation of Iceland Food Retail Limited has been considered in the analysis. The
research aims to investigate the potential advantages and disadvantages of social networking
practices in business. The introductory chapter of the research introduces the concept of
social networking practices; particularly about how it is implemented in businesses. In order
to derive a proper understanding about the facts and findings in existing studies, a detailed
review of literature has been performed. The findings of the review implies that social
networking are emerging practices and it enables businesses to extend their operation, reach
the wide market and better understand the customers and their purchasing behaviours.
However, the review also provides the fact as social media is free and open platforms,
maintaining a healthy public image in terms of brand, products and services could be
challenging, as negative feedbacks are welcome in social media. Likewise, there are several
contradictory facts such as security, privacy, trademark and copyright issues related to social
networking practices have been found in the existing papers. Nonetheless, despite the fact
that social networking practices are new in nature and a developing field, studies have only
paid attention to traditional issues such as security and negative feedbacks. The major issue
is, even though social networking practices are providing significant businesses opportunities,
the businesses are not much concerned about obstacles involved in the process. SMEs are
following the trends of social networking practices but they have weak remedies of the
challenges. To perform the analysis, both primary and secondary data collection methods
have been applied to the study. The secondary data has been collected from books, peer-
3PROJECT MANAGEMENT
review journal articles, newsletter of some particular organization. To perform the analysis of
primary data, both qualitative and quantitative data collection techniques have been applied
to the study. Qualitative data has been collected by performing an interview among the
managers and supervisors of Iceland Foot Retail Limited, while the quantitative data has been
collected by conducting a survey among the customersof Iceland Foot Retail Limited. In
order to select the participants for collecting the primary data, random probability sampling
and non-probability convenient sample method. The sample size for survey is 40 customers
and 5 managers for interview. The findings indicate that even though Iceland Food Retail
has effectively adopted the social networking practices in business but it is not able to
properly manage its social networking pages. However, the issues found in the literature such
as privacy and negative feedbacks are minor in the case of Iceland Food Retail but business
faces the issues of creating a clear advertising message, regular maintenance, etc. Thus, the
business has been suggested to use social media channels in a way that it can improve the
brand awareness, website traffic and search engine ranking. Emphasis on these three areas
may help to gain new customers.
review journal articles, newsletter of some particular organization. To perform the analysis of
primary data, both qualitative and quantitative data collection techniques have been applied
to the study. Qualitative data has been collected by performing an interview among the
managers and supervisors of Iceland Foot Retail Limited, while the quantitative data has been
collected by conducting a survey among the customersof Iceland Foot Retail Limited. In
order to select the participants for collecting the primary data, random probability sampling
and non-probability convenient sample method. The sample size for survey is 40 customers
and 5 managers for interview. The findings indicate that even though Iceland Food Retail
has effectively adopted the social networking practices in business but it is not able to
properly manage its social networking pages. However, the issues found in the literature such
as privacy and negative feedbacks are minor in the case of Iceland Food Retail but business
faces the issues of creating a clear advertising message, regular maintenance, etc. Thus, the
business has been suggested to use social media channels in a way that it can improve the
brand awareness, website traffic and search engine ranking. Emphasis on these three areas
may help to gain new customers.
4PROJECT MANAGEMENT
Table of Content
1. Introduction............................................................................................................................6
2. Background to the Research (Literature Review)..................................................................7
2.1 Social Networking in Businesses.....................................................................................7
2.2 Major advantages and disadvantages of social networking in business..........................9
2.3 Gap analysis.......................................................................................................................15
3. Research Aim/Objectives.....................................................................................................16
4. Research Methodology.........................................................................................................17
4.1 Data collection methods.................................................................................................17
4.1.1 Secondary Data collection method..........................................................................17
4.1.2 Primary data collection methods.............................................................................18
4.2 Data Analysis.................................................................................................................19
4.2.1 Qualitative data analysis.........................................................................................19
4.2.2 Quantitative Data Analysis.....................................................................................19
4.3 Sampling methods..........................................................................................................19
4.4 Research Limitations......................................................................................................20
5.0 Findings, Analysis and Discussion....................................................................................21
5.1 Quantitative questions....................................................................................................21
5.2 Correlation......................................................................................................................37
5.3 Qualitative questions......................................................................................................38
5.4 Discussion......................................................................................................................41
6.0 Conclusion..........................................................................................................................44
6.1 Recommendation............................................................................................................46
References................................................................................................................................48
Reflective Statement................................................................................................................52
Contextualization Statement....................................................................................................54
Table of Content
1. Introduction............................................................................................................................6
2. Background to the Research (Literature Review)..................................................................7
2.1 Social Networking in Businesses.....................................................................................7
2.2 Major advantages and disadvantages of social networking in business..........................9
2.3 Gap analysis.......................................................................................................................15
3. Research Aim/Objectives.....................................................................................................16
4. Research Methodology.........................................................................................................17
4.1 Data collection methods.................................................................................................17
4.1.1 Secondary Data collection method..........................................................................17
4.1.2 Primary data collection methods.............................................................................18
4.2 Data Analysis.................................................................................................................19
4.2.1 Qualitative data analysis.........................................................................................19
4.2.2 Quantitative Data Analysis.....................................................................................19
4.3 Sampling methods..........................................................................................................19
4.4 Research Limitations......................................................................................................20
5.0 Findings, Analysis and Discussion....................................................................................21
5.1 Quantitative questions....................................................................................................21
5.2 Correlation......................................................................................................................37
5.3 Qualitative questions......................................................................................................38
5.4 Discussion......................................................................................................................41
6.0 Conclusion..........................................................................................................................44
6.1 Recommendation............................................................................................................46
References................................................................................................................................48
Reflective Statement................................................................................................................52
Contextualization Statement....................................................................................................54
5PROJECT MANAGEMENT
Topic- Advantages and Disadvantages of social networks practices in business- A case
Study of Iceland Food Retail
1. Introduction
This report provides an intensive analysis of advantages and disadvantages of social
networking in businesses. The major purpose of the report is to examine potential advantages
and drawbacks associated with social networking in today’s modern businesses. So, the
research has been performed on Iceland Food Retail which has incorporated social
networking into its businesses. The research particularly focuses on the emergence of social
networking, how social networking has been incorporated into businesses, the profits
businesses gains from social networking, the challenges that business faces during the
operation due to social networking.
Social networking has fundamentally changed the way businesses interact with the
consumers. As social media has incorporated several functions and reaching capability, it
made many changes in the ways businesses communicate with their existing and potential
clients. The social networking particularly has changed the business landscape for both
organizations and the business landscape which have incorporated them and for those who
did not. According to Turban et al. (2017), social networking fins it easy to learn what is
significant to customers due to deliberate and planned approach in the era of empowered
customers. Business which incorporates social networking platforms as the core part of their
strategy better understand that social networking environments should not be used push out
promotional activities but should be used to develop a collaborative communication with the
clients, employees and other prospects to obtain significant understanding and sustainable
relationship.
Topic- Advantages and Disadvantages of social networks practices in business- A case
Study of Iceland Food Retail
1. Introduction
This report provides an intensive analysis of advantages and disadvantages of social
networking in businesses. The major purpose of the report is to examine potential advantages
and drawbacks associated with social networking in today’s modern businesses. So, the
research has been performed on Iceland Food Retail which has incorporated social
networking into its businesses. The research particularly focuses on the emergence of social
networking, how social networking has been incorporated into businesses, the profits
businesses gains from social networking, the challenges that business faces during the
operation due to social networking.
Social networking has fundamentally changed the way businesses interact with the
consumers. As social media has incorporated several functions and reaching capability, it
made many changes in the ways businesses communicate with their existing and potential
clients. The social networking particularly has changed the business landscape for both
organizations and the business landscape which have incorporated them and for those who
did not. According to Turban et al. (2017), social networking fins it easy to learn what is
significant to customers due to deliberate and planned approach in the era of empowered
customers. Business which incorporates social networking platforms as the core part of their
strategy better understand that social networking environments should not be used push out
promotional activities but should be used to develop a collaborative communication with the
clients, employees and other prospects to obtain significant understanding and sustainable
relationship.
6PROJECT MANAGEMENT
However, even though, it is undeniable that social media provides optimal opportunities to
develop, shape and expand businesses but not all the time social networking provides the
same. This means there can be several disadvantages such as inclusion of resources, negative
feedbacks, ineffective uses and many more. Many studies have been performed on the
incorporation or adoption of social networking but most of the studies are unclear about
challenges and drawbacks associated with social networking (Men and Tsai 2014). Thus, it
is necessary to perform a research on this context, which would help to identify the specific
advantages and disadvantages associated with social networking when adopting to
businesses. This research may prove to be effective for the emerging businesses, especially of
those adopting social networking in the recent time or the large corporations that are in the
process of expanding their operation in the global markets through social networking. Even
though, the research is performed on Iceland Food Retail but the findings provide many ideas
that in general helps other business to lead with respect to the use of social networking.
2. Background to the Research (Literature Review)
2.1 Social Networking in Businesses
Kasavana, Nusair and Teodosic (2010) performed a study on the effect of social
networking in today’s modern businesses and discovered that organizations that have
incorporated a strategic approach when using social media holds the capability of gaining
competitive advantages. Thereby, the businesses with such strategy can get customer
information using social networking sites faster than the business with a traditional model.
According to the author, the organizations can develop business models which are flexible to
use and deal with the customer change in real-time using the cloud service. Baltar and Brunet
(2012) performed a research and mentioned that organizations can achieve better outcome
and greater scale of satisfaction if and when they apply more comprehensive approaches to
the incorporation of social media with a single point solution. This should be
However, even though, it is undeniable that social media provides optimal opportunities to
develop, shape and expand businesses but not all the time social networking provides the
same. This means there can be several disadvantages such as inclusion of resources, negative
feedbacks, ineffective uses and many more. Many studies have been performed on the
incorporation or adoption of social networking but most of the studies are unclear about
challenges and drawbacks associated with social networking (Men and Tsai 2014). Thus, it
is necessary to perform a research on this context, which would help to identify the specific
advantages and disadvantages associated with social networking when adopting to
businesses. This research may prove to be effective for the emerging businesses, especially of
those adopting social networking in the recent time or the large corporations that are in the
process of expanding their operation in the global markets through social networking. Even
though, the research is performed on Iceland Food Retail but the findings provide many ideas
that in general helps other business to lead with respect to the use of social networking.
2. Background to the Research (Literature Review)
2.1 Social Networking in Businesses
Kasavana, Nusair and Teodosic (2010) performed a study on the effect of social
networking in today’s modern businesses and discovered that organizations that have
incorporated a strategic approach when using social media holds the capability of gaining
competitive advantages. Thereby, the businesses with such strategy can get customer
information using social networking sites faster than the business with a traditional model.
According to the author, the organizations can develop business models which are flexible to
use and deal with the customer change in real-time using the cloud service. Baltar and Brunet
(2012) performed a research and mentioned that organizations can achieve better outcome
and greater scale of satisfaction if and when they apply more comprehensive approaches to
the incorporation of social media with a single point solution. This should be
7PROJECT MANAGEMENT
incorporatedintoseveralelements of the business. When it comes to using social media, Smith
and Zook (2011) mentioned that organizations may use it a resource to collect data, a
platform of building relationship and also the platforms for sales and development of
services. On the basis of this findings, it can be added that a comprehensive approach to
social networking enable organizations to make a link between their effective traditional
technique and effective social networking to reach the customer satisfaction goals (Madera
2012).
However, Shih (2011) argued that maintaining or developing substantial endeavour
and time should be there to build an interactive social media networking environment. Thus,
an organization might have to deal with a significant marketing factor, if it is facing the
challenge of limited resources. Another study performed by Cook (2017), mentioned that
users in social media have made a significant use of platforms, as they can share and post
whatever they want; for example a happy customer can share a glowing review with wide but
an unsatisfied customer can use the opportunity to share negative reviews about the brand or
the organization. Picazo-Vela et al. (2012) argued that negative reviews could come from the
internal environment of the business, for example, when dissatisfied employees share their
concerns, they may use the medium to tarnish the brand image of the organization. According
to the author, such negative reviews could present a bad impression to the public and it can
also damage the potential client base.
A study carried out on the implementation of social networking in businesses by
Leonardi, Huysman and Steinfield (2013), mention the fact that people can share whatever
they want on social media without a proper or depth understanding. According to the author,
such poor though of post can create negative consequence for an organization with a large
number of audience. So, here the mistakes hardly go unobserved. The study provided the
example that social media controllers of Digino Pizza have observed the hashtag
incorporatedintoseveralelements of the business. When it comes to using social media, Smith
and Zook (2011) mentioned that organizations may use it a resource to collect data, a
platform of building relationship and also the platforms for sales and development of
services. On the basis of this findings, it can be added that a comprehensive approach to
social networking enable organizations to make a link between their effective traditional
technique and effective social networking to reach the customer satisfaction goals (Madera
2012).
However, Shih (2011) argued that maintaining or developing substantial endeavour
and time should be there to build an interactive social media networking environment. Thus,
an organization might have to deal with a significant marketing factor, if it is facing the
challenge of limited resources. Another study performed by Cook (2017), mentioned that
users in social media have made a significant use of platforms, as they can share and post
whatever they want; for example a happy customer can share a glowing review with wide but
an unsatisfied customer can use the opportunity to share negative reviews about the brand or
the organization. Picazo-Vela et al. (2012) argued that negative reviews could come from the
internal environment of the business, for example, when dissatisfied employees share their
concerns, they may use the medium to tarnish the brand image of the organization. According
to the author, such negative reviews could present a bad impression to the public and it can
also damage the potential client base.
A study carried out on the implementation of social networking in businesses by
Leonardi, Huysman and Steinfield (2013), mention the fact that people can share whatever
they want on social media without a proper or depth understanding. According to the author,
such poor though of post can create negative consequence for an organization with a large
number of audience. So, here the mistakes hardly go unobserved. The study provided the
example that social media controllers of Digino Pizza have observed the hashtag
8PROJECT MANAGEMENT
“#whyIsayed” was trending on social networking site like Twitter and they used the trend by
adding “#whyIstayed You Had Pizza”(Diginos.com 2018). This is ideal statement used for
conventional promotion but when thinking deeply, the hashtag is used to describe the reasons
behind why the victims of domestic violence stay in an abusive relationship. Therefore,
audience from different regional environments threw their negative remarks for such way of
posting. Particularly, people have considered it that organization was having the fun in the
pain of others. Audiences have strongly criticized the brand for inadequate information and
carelessness when using a global media (Moqbel, Nevo and Kock 2013).
Gronum, Verreynne and Kastelle (2012) mentioned that users in the social networking
environment can be dynamic in their way of using; thereby, managing them may require an
attractive posts that make them desire for more. Nonetheless, to do this, the individuals may
require a significant level of creativity which are usually not found in them. Although, this is
known as the challenge, if a business spends or make a significant investment of time and
effort, it could be able to reach the milestone (Treem and Leonardi 2013). This is highly
required for developing a sustainable relationship with customers to make them pay repeated
visits. (Gronum, Verreynne and Kastelle 2012). Furthermore, Kirtiş and Karahan (2011)
have mentioned that there is a significant exposure to the online, market could present
significant challenges such as information leak, hacking. Thus, if the organization is not
concerned, the competitors can use the information the organization shares on social media.
This could certain affect the overall brand image of the business.
2.2 Major advantages and disadvantages of social networking in business
It is certain that social networking is an emerging trend which reports a rapid growth in a way
that businesses are able to reach out the targeted customers quite easily. In a general sense,
businesses uses the social media channels to promote their predicts and service’s as well s
“#whyIsayed” was trending on social networking site like Twitter and they used the trend by
adding “#whyIstayed You Had Pizza”(Diginos.com 2018). This is ideal statement used for
conventional promotion but when thinking deeply, the hashtag is used to describe the reasons
behind why the victims of domestic violence stay in an abusive relationship. Therefore,
audience from different regional environments threw their negative remarks for such way of
posting. Particularly, people have considered it that organization was having the fun in the
pain of others. Audiences have strongly criticized the brand for inadequate information and
carelessness when using a global media (Moqbel, Nevo and Kock 2013).
Gronum, Verreynne and Kastelle (2012) mentioned that users in the social networking
environment can be dynamic in their way of using; thereby, managing them may require an
attractive posts that make them desire for more. Nonetheless, to do this, the individuals may
require a significant level of creativity which are usually not found in them. Although, this is
known as the challenge, if a business spends or make a significant investment of time and
effort, it could be able to reach the milestone (Treem and Leonardi 2013). This is highly
required for developing a sustainable relationship with customers to make them pay repeated
visits. (Gronum, Verreynne and Kastelle 2012). Furthermore, Kirtiş and Karahan (2011)
have mentioned that there is a significant exposure to the online, market could present
significant challenges such as information leak, hacking. Thus, if the organization is not
concerned, the competitors can use the information the organization shares on social media.
This could certain affect the overall brand image of the business.
2.2 Major advantages and disadvantages of social networking in business
It is certain that social networking is an emerging trend which reports a rapid growth in a way
that businesses are able to reach out the targeted customers quite easily. In a general sense,
businesses uses the social media channels to promote their predicts and service’s as well s
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Critical Reflections of Ethical Issueslg...
|11
|2591
|393
Importance of Training and Development for Employeeslg...
|71
|20083
|301
Importance of Globalisation in Driving Businesslg...
|27
|4669
|169
Research Proposal: Social Outcomes of Social Network in Businesslg...
|16
|3370
|209
Role of Globalisation in Driving Business Success of Multinational Organizationslg...
|10
|504
|83
Assignment On Digital Platformlg...
|13
|1758
|46