Advantages and Disadvantages of Using Social Network in Business

This research study focuses on the multifarious impact that engagement of social network wields on businesses. The report indicates the team charter mentioning the research problem and the associated questions. The main body of the report includes a literature review, the methodology used for research, data collection, data analysis and interpretation.

ACADEMIC & BUSINESS RESEARCH
(A RESEARCH STUDY ON ADVANTAGES AND DISADVANTAGES
OF USING SOCIAL NETWORK IN BUSINESS)
Name of the Student:
Student ID:
Submission Date:
Name of the Tutor:
Module Code:
Author’s Note:

ADVANTAGES AND DISADVANTAGES OF USING SOCIAL NETWORK
Table of Contents
1. Introduction..................................................................................................................................3
1.1 Team Charter.........................................................................................................................4
1.1.1Topic................................................................................................................................4
1.1.2 Review............................................................................................................................4
1.1.3 Research problem...........................................................................................................4
1.1.4 Research question...........................................................................................................5
2. Literature review..........................................................................................................................7
2.1 Introduction............................................................................................................................7
2.2 The basic concept and overview............................................................................................7
2.3 Implementation of social media in a business environment..................................................8
2.4 Usage of social networks in business....................................................................................9
2.5 Impact of social networks on the global business environment..........................................10
2.6 Positive impact.....................................................................................................................11
2.7 Negative impact...................................................................................................................12
2.8 Consumer segmentation.......................................................................................................12
2.9 Impact of social network on consumer behaviour...............................................................13
2.10 The customer’s decision-making process..........................................................................14
2.11 Literature Gap....................................................................................................................15
2.12 Summary............................................................................................................................15
3. Research report..........................................................................................................................16
3.1 Research paradigm...............................................................................................................16
3.2 Methodology........................................................................................................................18
3.2.1 Research Philosophy.....................................................................................................18
3.2.2 Research Approach.......................................................................................................18
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3.3.3 Research Design...........................................................................................................19
3.3 Data collection.....................................................................................................................20
3.3.1 Survey...........................................................................................................................20
3.3.2 Interview.......................................................................................................................20
3.4 Data analysis........................................................................................................................22
3.4.1 Quantitative data analysis.............................................................................................22
3.4.2 Qualitative data analysis...............................................................................................22
3.5 Data interpretation...............................................................................................................23
4. Conclusion.................................................................................................................................24
References......................................................................................................................................25
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1. Introduction
Business research is the method of acquiring detailed information in different areas of business.
The information that is generated from such research, helps in the maximization of profits and
sales for the business. It enables the business to determine whether any modifications are
required in their operations and functioning or whether the company, which will prove to be in
the interest of the company, may adopt newer avenues. In other words, business research may be
held to be acquiring such knowledge or information which would contribute further in meeting
the commercial objective and take advantage of the opportunities in the greater interest of the
business. There is an increasing trend in the engagement of social media by companies in various
capacities, and the trend is gaining greater traction with every passing day. Businesses are far
more inclined to utilize social media networks, and the platforms provided by it for ensuring
higher visibility of the brand of the business and the development of relationships with
customers, among others. The research report focuses on the multifarious impact that
engagement of social network wields on businesses. The report indicates the team charter
mentioning the research problem and the associated questions. The main body of the report
includes a literature review, the methodology used for research, data collection, data analysis and
interpretation.
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1.1 Team Charter
1.1.1 Topic
The research report deals with the advantages and shortcomings of using social networks in
businesses. While the present trend indicates that organizations and companies are using social
media networks on a much larger scale, the results borne out from such usage has been mixed. It
is evident that, on one hand, social media have provided much-needed accessibility in terms of
customer engagement, but on another instance, such participation is not without certain
problems, which may ultimately have an adverse bearing on the interests of the business. Such
aspects make the research report on the given topic relevant.
1.1.2 Review
The significance of social media, in the context of business, has grown manifold. It has largely
been possible with a greater number of users accessing social media networks on a regular basis,
and industry report indicates that there is no instance of abatement of the same (Chamoso et al.
2018). Presence of businesses over social networks becomes crucial due to the fact that, in all
likelihood, the targeted customer base of the business is active on popular social media networks.
The platform provided by social media network had enabled the customers to connect with their
chosen brands on a much higher level (Wang et al. 2017). In such a scenario, if a business does
not retain any presence in social media network, it is likely that the business may experience
attrition in its customer base (Zhao and Burt 2018). The presence in social media networks also
helps the company in greater generation of business, better connection with its customers, and
also paves the way for digital marketing (Serrat 2017). The brand equity of the business may also
be significantly impacted as approximately, 71% of consumers are most likely to recommend the
brand in the event of having a positive experience with the same over social media (Burckart et
al. 2015).
1.1.3 Research problem
While businesses stand to benefit immensely from maintaining a presence over the social
network, however, the businesses also stand to face particular issues which may have an adverse
bearing on its operations or brand reputation. If the return on investment is not measured over the
presence in a social network, then the underlying objective of the business will not be served.
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Adverse reactions generated by customers will also negatively impact the brand of the business.
Such negative reaction may ultimately attain a greater proportion, with the perception of
customers at large, turning against the brand of the business significantly. It is in this respect that
organisations and businesses will have to assess the benefit of their presence, on social network
beforehand, for reaping the desired advantages. Hence, it is important for businesses to gauge the
shortcomings that are inherent in social networks.
1.1.4 Research question
Main question:
 What is the role played by social networks for businesses?
Sub-questions:
 What is the significance of social networks for businesses?
 What are the major benefits derived by businesses in being present over the social
network?
 What are the adverse impacts that businesses have to suffer on account of presence over
social media?
 How can businesses further leverage the advantages accruing to its due to its presence
over social media?
Student numbers and
names
Roles each will contribute throughout the project
Student A Student A will collect all the relevant information from the
secondary sources like books, journals and online articles
Student B Student B will sort-out the topics that are needed to be
discussed in the literature review
Student C Student C will analyze the data once the data are collected
and secondary sources are listed out
Student D Student D will help each of the other members to carry out
their respective duties and will check the final project before
submission
Table 1: Role of each researcher in this project
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(Source: As created by the author)
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2. Literature review
2.1 Introduction
A brief discussion about the disadvantages and advantages of social media platforms in the
global business has been provided. The use of various scholarly information has increased the
quality and reliability of the section. Moreover, the contrary views and opinions of different
scholars and writer shall provide the readers with a precise understanding about the impact of
social networks on the global business environment. Some examples and case scenarios have
also been included to make the topic more realistic and efficient for practical use. Use of graphs
and charts provides a graphical representation of the various demographics.
2.2 The basic concept and overview
Social media or rather, social networks have become a trend that has made the business culture
and technological aspect within a business more creative and meaningful. It has brought
persuasive changes in the customer-to-customer, customer to business and business-to-business
modes of communication (Agnihotri et al. 2016). Vast changes in the business culture and
customer behaviours can be seen due to the innovation in social networking platforms.
Previously, the modes of communication and advertisement that were even unthinkable are being
used and implemented in every corner of the worlds. Businesses are using social media platform
to showcase and display their abilities, and on the flip side, customers are also showing great
interest in their buying tendency from social media platforms.
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Figure 1: Travel experience process
(Source: Agnihotri et al. 2016)
However, there are several cases where a wrong advertisement or fake promises has brought
business to come down devastatingly. In those cases also, social media were highly responsible.
Cases like trolling and vague comments have brought many companies to face huge losses in
their business culture (Basole et al. 2015). In the following section, the disadvantages and
advantages of social media platforms and the ways in which the companies can mitigate their
issues have been discussed very precisely. The rule that governments of different companies
have launched to minimise the negative impact of social sites platforms and to share rights to the
businesses have also been added.
2.3 Implementation of social media in a business environment
The application and implementation of a social media platform are increasing on a daily basis.
According to Forbes business magazine, until 2017, 67% of the global companies were using
social media platform as their primary source of advertisement. Moreover, the report also
informed that 45% of the companies, which were performing nationally, got the global image
just by implementing social media as their advertisement platform (Bell et al. 2018). In
developed countries like the UK, the tourism sector has shown the biggest impact of social media
platform. UK tourism has shared 58% of the annual revenue to national growth and
development.
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Most people nowadays search their travel destination, rates and reviews by using social media
platform. Another factor that has shown a tremendous positive impact on social media in their
business culture is the clothing industry (Bolander et al. 2015). Previously, only international
brands and companies used to implement social media for marketing and advertisement purpose,
but from late 2014, the small and midsized companies in different countries have started to
launch their advertisement in social media platform. For a company like Adidas, whose sports
garments and shows are highly popular since the last many years have seen a decrease in their
sports garment-selling rate (Borgatti et al. 2018).
Figure 2: Use of social media platform by people of different countries
(Source: Bolander et al. 2015)
Moreover, as per the reports shared by the management and marketing team of the company,
they consider an increase in the local companies with high-quality product and fewer charges is
one of the biggest reason for this. In countries like India and Bangladesh, where the cities are
being urbanized at a high rate, people over there tend to search for quality products in minimum
charges (Brooks 2015). In that factor, the involvement of these small and midsized companies
has shared maximum competition in small towns and cities of the developing nations.
2.4 Usage of social networks in business
The social networking sites work on several means to attract and retain customers for different
industries (Bryman 2016). In contrast to the travel and hospitality industry, the social media
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platform is used by the consumers to determine the diverse range of the destinations and explore
the charges offered by the tourism companies. On the other hand, Buettner (2016) opined that,
the clothing and garment companies use the social media platform to provide exclusive discounts
and offer to the customers with latest trends and standard quality of the clothes. In this regard,
the example of merchandise retailing companies is also very prominent.
Figure 3: The social media assessment
(Source: Bryman 2016)
In case of Walmart and Tesco, the company to analyse the rates and reviews of the customers
and determine the highest range of products that are being purchased by the consumers mainly
heads the use of social media. This strategy of Tesco has helped the company to carry out a list
of products that are mostly being sold by the company, and the company has managed to display
those particular products in the front rows to attract the customers (Burns 2016). On the other
hand, Walmart has used this technique to understand how much time each customer is spending
in the store and how maximum customers pondering to find their desired products. Arranging
such products in a consecutive manner and providing exciting offers and discounts in all
products on two days of the week have increased the sales and customer retention to a large
extent in Walmart.
2.5 Impact of social networks on the global business environment
Since early 2011, the use of social networking platforms introduced the business cultures to
involve a group and attract people for their services. With the increased advancement in the
social media platforms, consumers have involved more towards the online product buying trends.
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According to Cao et al. (2015), this has to lead them to share their personal opinions and views
for a particular firm. An example of Diet Coke can be considered in this case, where the
company claimed it consisted of 100% natural ingredients and no added sugar or preservatives
were used in the product. This brought a revolution in among the youngsters, and a worldwide
campaign in support of diet coke with various artists involved in it.
Figure 4: Facebook remains the most popular social media platforms among adults
(Source: Burns 2016)
However, after the clinical test of the product, 45% added preservative was proclaimed, and the
quality of the water that was used was also reported to be unhealthy for regular consumption. As
opined by Fuchs (2017), in 2013, the market sale of diet coke was seen to decrease largely.
However, the company brought an advanced diet coke by minimizing their faults in the
ingredients, but the involvement of the global customers was seen to get very reduced as
compared to the previous case. Therefore, social media has a wide range of importance in the
company's improvement as well as losses. People tend to get information about the company's
work culture and services. Any minute change or misleading can bring a huge difference in the
company's work culture.
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2.6 Positive impact
There is countless positive impact of using social media in the business environment. However,
certain common benefits are there that is objectified by most of the companies before
implementing social media platforms. The primary benefit of using a social networking platform
is that it reduces the marketing cost to a large extent. The charges that are needed to pay for the
traditional mode of advertisement are way higher than the charges needed for social media
advertisement. As stated by Gaál et al. (2015), with the advancement of time and technology, the
global companies are opting and hiring content writers and software developer who can maintain
the social media handle of the respective companies. This has become a great source of income
for many technicians across the globe. Another major impact of the social media platform can be
observed that companies usually tend to get more sales. If fake promises and improper
information are not given to the customers, even small-sized enterprises make a large profit just
by using social media platforms. In this way, the access of the company to the local consumers,
domestic consumers and international consumers become much easier (Greenhow and Askari
2017). By analysing the rates and reviews of the customers, the market research process and
customer engagement becomes much easier.
2.7 Negative impact
Without having proper knowledge in social media marketing and clear marketing strategy, the
business may fail devastatingly in the target market. In order to mitigate this, additional
resources may be needed to manage the social media handles. As an example, the companies
might need to hire more skilled and experienced labours to manage their official social media
sites (Guesalaga 2016). In that case, the involvement of social media platforms may not work
positively. Another major negative impact of involving social media platform in the business
culture is that thorough and regular updates are needed to be carried out. Without regular
updates, any significant real benefits cannot be noticed. In that factor, it can also be noted that
social media behaviour in one of the important technique to attract and retain customers.
In times of tough business management, it becomes difficult for marketing managers to remain
calm. As opined by He et al. (2015), if proper formability and marketing behaviour is not
maintained, the company may face a vigorous loss and troll. With the innovation in technology,
the negative impact is also increasing. If traditional modes of advertisement are followed, the
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chances of hacking useful data and information are very minute. In the case of social media
advertisements, these aspects have become much easier to practice. Therefore, leakage of
valuable information and hacking of the websites are the easiest way to damage the business
culture of any organization (Makori 2019).
2.8 Consumer segmentation
For any business, customers are the ultimate source of income and profitability. Therefore,
analysing demands of the customers is the primary motive for any company. For determining the
needs of the customers, most of the companies use customer segmentation as the greatest
strategies. Twitter is regarded as the most used social media platform used by customers to rate
their views. Facebook and Youtube later follow this correspondence. As stated by Jones et al.
(2015), Twitter is reported to have 78% of the customer's review after using any particular
commodity, followed by Facebook that has 59% and YouTube consisting of 50% views. People
these days tend to prefer watching videos than to read articles. An example of the hospitality
industry can be shared in this case, where people tend to share the videos and images of the
hotels where they live in and provide rates and reviews according to their respective experiences.
In that factor, the hospitality industry has segmented its customers into two major elements, the
corporate customers and families. In the case of the corporate customers, they tend to prefer for
cleanliness, small rooms, Wi-Fi and technical services and charges (Keyes 2016).
The hospitality industry considers corporate consumers as the most liable and honest source of
responses (Kindler et al. 2015). However, families tend to have mixed views and opinions. In
addition to the cleanliness and house care services, the families also tend to search for botanical
beauties, pools, gyms and playgrounds. In the case of the families and corporate customers, the
margin is again subdivided into two categories, regular and new. Providing regular customers
with equivalent or similar services makes the customers highly satisfied. Their rates and reviews
ultimately are shared in social media platforms (Lewandowski 2016). For the new customers, the
companies need to provide exclusive vouchers and offer packs that will attract them and will
increase their interest to opt for the same hotel or restaurant they previously visited.
2.9 Impact of social network on consumer behaviour
With the enhancement of technology, the behaviour of the consumers is also changing to a high
rate. People are becoming more prone to online shopping rather than traditional modes of
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marketing. As per a report shred by Hyatt, the company offered a 50% discount to 100 customers
who were selected randomly to provide 11-night free travelling to all the major cities in the
world (Wang et al. 2016). All these customers were provided online vouchers to apply for the
discount. In this way, the company saw a 74% increase in the sales of the tickets for the offer
(Luo and Zhong 2015). This helped the company to increase its customer ground and analyse the
market strategies in a very simplified way. The behaviour of the customers has a significant role
in increasing the success rates of any company. In this regard, YouTube has gained a vast range
of customers to upload and share videos regarding the quality of different products, the reliability
and competitive advantage. According to a report shared by Forbes, nearly 62% of the mid and
large sized companies tend to analyse the rates and reviews shared by the customers in the
YouTube channel (Nardi 2018). This helps the company to bring considerable changes and
ultimately improving their quality of products and services.
2.10 The customer’s decision-making process
Based on the views and opinions of Oskam and Boswijk (2016), there are six major steps of
customers decision making:
 Reorganizing the company: The customers at first analyse their needs and demands, then
search for the companies that provide similar services. Advertising the appropriate
products that the company sells should be displayed right to the customers. Searching adequate information: Once the customer gets to know about the products
that the company sells, the next phase is to search for the minute things that comprise the
overall cost of the product (Sekaran and Bougie 2016). As an example, if customer is
willing to buy a mobile phone, one he/she admires a brand, the next step will be that the
customer would search for the internal and extendable memory of the phone, camera
quality, durability and rates and reviews of another customer. Pre-purchase substitutes: The pre-purchase replacement comprises of the competitive
analysis. The customer would search for similar products and would compare the
advantages and disadvantages of the brand that he/she is willing to opt for (Stamati et al.
2015). If the benefits are more, the customer will come by the product, and if the
disadvantages are more, new research will again proceed.
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 Purchase: This is the ultimate stage, where the customer, by analysing the merits and
advantages of a particular product, tend to buy that specific product (Cardon and
Marshall 2015). Consumption: After, the purchase of the product, the person consumes or rather uses the
product. Based on the experience, the customer would recommend others to buy the
product. In social media platforms, the customers tend to tag and comment with each
other to proceed for purchase if one customer is satisfied with the consumption
experience (Turban et al. 2015). Post consumption determination: In order to make the customers retain in the company,
the post-purchase experience is a very prominent factor. The services that a customer
receives after the usage of a product are completely dependent on the business strategies
of the organisation (Turban et al. 2017).
2.11 Literature Gap
Although, this project considers a wide range of brief discussions on the pros and cons of the
social media networks, yet there are certain limitations that this project consists. The foremost
limitation is that involvement of the case study of any particular company has completely been
avoided. This has decreased the reliability of the project to some extent. Moreover, the project
also does not include the strategies that might be used by the companies to mitigate the issues
that arise while implementing a social network in their respective businesses.
2.12 Summary
From the above discussion, it can be concluded that using social networks can be significantly
beneficial for business culture when used precisely. Determining the consumer decision making
and involving rates and reviews in the social network websites can help the companies to be
significant changes according to the needs and demands of the customer. In the preceding
sections, the examples of various companies that have used social networks as their most
prominent organizational strategy provide a brief idea about the implementation of a social
network in the small and midsized business organization. A summarized idea about the
significant points that are generally considered during social network implementation in business
culture can be gathered effectively and efficiently from the conceptual framework of the chapter.
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3. Research report
3.1 Research paradigm
Research paradigm relates to the research model, which focuses on the major approaches,
namely interpretivism and positivism. Every business research engages a particular approach for
the development of research methodology and arrives at the findings, which would amount to be
most appropriate and valid (Kumar 2019). In the case of business research paradigm, the most
appropriate methodology is a mixed method paradigm. The mixed methods research undertakes
analysis of both qualitative and quantitative data with the investigation questions amounting to
both closed and open-ended (Hesse-Biber 2015).
It would incorporate both quantitative and qualitative data. Quantitative data would most
necessarily include closed-ended information, and the data will be statistically analysed. On the
other hand, the open-ended information consists of such data which is focused on opinion,
perception, and viewpoints, among others, which are largely elicited with the help of interview
questionnaires (Lewis 2015). In such ambit, the ideas are mostly aggregated. In the case of
mixed research method, data mixing occurs in which two data sets are converged for effective
understanding of problem. One kind of data set may prove to be supportive of the other data set
(Barnham 2015).
The major characteristics of the mixed method research pertain to the analysis of both qualitative
and quantitative data, and both closed-ended and open-ended data is collected for addressing the
research question (Flick 2018). Such method mainly entails rigorous procedure with the
integration of the two varying data sources.
The stages in mixed method research will include following steps:
 Determination of the research question;
 Determination of the appropriateness of mixed research procedure;
 Selection of the mixed model research design;
 Data collection;
 Legitimisation of data;
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 Data analysis;
 Data interpretation,
 Synthesis of conclusion;
 Final report (Palinkas et al. 2015)
Mixed research methods are particularly advantageous as it helps in the generalizations of the
results. The researcher proves to be far better equipped in providing for robust evidence along
with conclusive and corroborate findings (Morse 2016). Mixed method allows the researcher to
incorporate deeper insights which may not have been possible in the instance of the adoption of a
single research method, within the course of the research.
The mixed research method also allows for the adoption of a much broader and exhaustive range
of research questions (Bell Bryman and Harley 2018). The insights gleaned from perceptions,
narratives, and opinion would help in taking a nuanced approach to the quantitative results, and
the latter will prove to be effective in adding precision to the narrative. Both quantitative and
qualitative research is significantly strengthened (McCusker and Gunaydin 2015).
Such research method also suffers from certain shortcomings, which may attribute certain
negative aspects in the research methodology, which would have an adverse bearing in
conducting the research (Patten and Newhart 2017). For the adoption of mixed method research,
it is incumbent upon the researcher to become adept in multiple methods for the better
understanding of how to mix the same, effectively (Edmonds and Kennedy 2016). A single
researcher is most likely to be ill-equipped for carrying out both the quantitative and qualitative
research, particularly in such instances where multiple approaches may have to be engaged
concurrently. In such a scenario, it becomes important to engage a research team. Mixed method
research also takes a greater amount of time (Bryman 2016).
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3.2 Methodology
3.2.1 Research Philosophy
Researchers will depend on pragmatism philosophy, as it provides the scope for mixed method
designs which would incorporate both qualitative and quantitative research method. It allows for
the research strategy to be both qualitative and quantitative. Such utilization of dual strategy is
possible due to the research philosophy indicates that a particular method of interpretation may
not prove to be effective in the understanding of the entire issues, on account of the existence of
multiple realities. In the mentioned research philosophy, greater emphasis is put on the research
question and integrates multiple approaches along with strategies in context of the same study
(Hughes and Sharrock 2016).
3.2.2 Research Approach
The research approach will be inductive. In inductive approach, the new theory will be
formulated on the basis of emerging data. It will utilize the research questions for narrowing
down the scope of the research. It will aid in the exploration of new phenomena, from a newer
perspective. Subsequent to the data analysis, the existing theory will be assessed for the
facilitation of the new theory (Saunders et al. 2015). The inductive approach will prove to be
particularly effective for the present business research report as it would initiate with observation
and eventually moving towards a broader generalization. The research will be starting with a
specific idea and will refrain from the application of related theories until further down research.
The researchers will observe the patterns for the purpose of data analysis and generation of
theory. The following steps will be adhered to in the research report within the ambit of the
inductive approach:
 Particular observation;
 Specifying the topic of the research;
 Collection of data;
 Determination of patterns in data;
 Analysis;
 Emergence of themes based on the analysis of data;
 Generalisations of theory;
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 Findings being disseminated (Quinlan et al. 2019)
3.3.3 Research Design
The research design will be exploratory in nature, which would help the researchers in gaining
in-depth insights, and the findings will be utilized in prospective research. The research design
will aid the research team in providing a grounded picture with respect to the particular situation
that has been encompassed with the research topic. It ultimately leads to the generation of newer
assumptions and ideas and in the development of tentative theories. The results would also lead
to the determination of future feasibility of the study (Creswell and Poth 2017).
However, the limitations of the research design include that on account of relatively smaller
sample sizes, the findings that will be arrived at through the course of the research cannot be
extended for the purpose of generalization of the population at large. Due to the exploratory
nature of the design, the findings will not amount to being definitively conclusive. It would
provide for effective supportive literature for subsequent study. The findings, to a certain extent,
may help in the decision-making processes within the organisation (Meyers, Gamst and Guarino
2016).
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3.3 Data collection
The collection of data for research will be both primary and secondary.
In primary data collection, data happens to be collected directly from the source. It is acquired on
a first-hand basis through different processes like observation, experimentation, survey, focus
groups and interview, among others. The research will use the methods of survey and interview
for primary data collection.
3.3.1 Survey
The survey will include a closed-ended questionnaire, which will be filled up by the survey
participants. The questionnaire will be e-mailed to the participants who will have to read,
comprehend and provide answers to the questions, on a timely basis, and mail back the
questionnaire. The responses will have to be marked against the Likert Scale. The questionnaire
will be kept short and simple, as it would help in better comprehension. Reportedly, a short
questionnaire enjoys a higher response rate (Nardi 2018). The questions would be arranged in a
logical sequence for better comprehension and higher accuracy in responses.
The questionnaire will not include technical jargon with brief instruction with respect to the
filling up of the questionnaire. The survey will be conducted on 50 participants, which would
comprise of employees engaged in the corporate communications department of the different
companies. The survey method eliminates the chances of inherent biases of the interviewer, and
the participants have adequate time to respond. The participants may be easily approached in this
manner, and larger samples may be used, which would lend a greater degree of reliability.
However, the limitations of the survey method include a lower rate of duly filled questionnaires
and lack of flexibility in the modification of questions once it has been circulated. There exist
higher chances of presence of ambiguity in the responses that have been provided through a
questionnaire, with the same being a time-consuming process.
3.3.2 Interview
The data collected through the interview method undertake the recording of verbal responses.
Personal; interview will be conducted on face to face basis. The interview will be structured, as
the researcher will ask pre-determined questions and engage standardized techniques of
recording. Interview will be conducted on 5 participants, which will comprise of senior managers
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of the marketing department in different companies. The major benefit of conducting such an
interview includes the gathering of more information, which will also prove to be in-depth. The
samples generated through such a process can be controlled with higher flexibility in the process.
The researchers will also remain alert with respect to the different problems that may arise in the
course of generation of data through the interview process (Almalki 2016). The method, to begin
with, is usually expensive, and there exists a high possibility of interviewer's bias in the
interpretation of responses. It takes a greater amount of time, and due to the physical presence,
the responses may not be frank. It would also require the interviewer to be highly skilled;
otherwise, the data cannot be accurately collated.
In the secondary data collection, the researchers will utilize such data which had been already
published in journals, books, academic portals and newspapers, among others. It will prove to be
particularly effective for business research as a lot of related data can be found in various
industry reports as well as government reports. The researchers will undertake the application of
the suitable parameters for selection of secondary data. It proves particularly important for
increasing the reliability and validity of present business research. The research team would
focus on multiple parameters. The parameters would include the publication date of the materials
for the determination of the relevance of the same with that of the present research. The
credentials of authors will be checked along with the reliability of the source, from which the
material will be acquired (Colorafi and Evans 2016). The different parameters that will be
assessed in the selection of research materials involve assessing the standard of discussion,
contribution to development of research area along with extent of depth in its analysis.
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3.4 Data analysis
3.4.1 Quantitative data analysis
Quantitative data analysis will be done on responses from the survey. In the initial stage, data
will be prepared for the conversion of raw data. It would include the four stages of fraud,
screening, procedure, and completeness. In the step of fraud, it will be determined whether the
responses correspond to the respondents or not. Screening ensures that the participants were
selected as per the determined criteria. Subsequently, it will be checked whether the procedure
for data collection had been entirely followed, and all the questions have been completely
answered. The data will be next edited for errors and lead to the identification of such data
points, which may adversely influence the accuracy of results. It will engage descriptive statistics
as the quantitative data analysis method (Creswell and Poth 2017).
3.4.2 Qualitative data analysis
Qualitative data analysis will be done on the responses generated from the interview. The first
stage would involve the preparation of data, which will include being familiar with the data in
the first instance. It will help in the identification of basic patterns or observations, and the data
may be transcribed in this stage. The research questions will be re-visited for addressing it
through the collected data. A framework will b subsequently developed in which, behaviours,
concepts and ideas will be coded. It proves to be particularly effective for the structuring and
labelling of the data.
With the completion of coding of the data, the researchers will initiate the process of
identification of the themes and determination of most generic responses to particular questions,
patterns identification in data, which will help in addressing the research questions. It will also
help in the identification of such areas, which will have to be further investigated. For finding
patterns in qualitative data, the methods that will be applied include word repetitions, keywords
in context, scrutiny based techniques, compare and contrast method (Bryman 2016). The
research team will apply the grounded theory for qualitative analysis. It would encompass why a
particular phenomenon occurred, and similar cases will be studied in different settings. The data
will help in deriving causal explanations.
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3.5 Data interpretation
The interpretation of data will include the task of drawing inferences from the data that has been
collected after an analytical study. The objective is to provide a broader meaning in the context
of research findings. The two primary aspects of data interpretation relate to the effort for the
establishment of consistency in research with the linking of the results in the given research
study. It also seeks to establish a number of explanatory concepts.
The interpretation of both the qualitative and quantitative data will encompass a few objectives.
The data will have to put into perspectives. It would include the comparison of results with that
of the expectation of the research team or the results that have been envisaged. It will be
determined whether the same is corresponding to a common standard. It becomes particularly
important in the case of business research. The original objectives will have to be evaluated. The
interpretation of data will also comprise of the measures or indicators for the assessment of eth
accomplishment of the results or outcomes (Nardi 2018). It would also indicate the strengths and
weaknesses of the research, especially in the context of the evaluation of processes. Based on the
interpretation, recommendations will be provided.
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4. Conclusion
From the above discussion, it can be concluded that the four researchers have chosen to analyse
the advantages and disadvantages of social networks in regards to global business platforms. For
this, the researchers have considered secondary data and case studies of various companies that
have used social media platform as their significant strategy. Therefore, for a company that seeks
to share a global impact and target on a large audient, the use of social media platform can be
great wands. This can increase profit and productivity considerably. However, the determination
of the result and implementation of the social media networks in the business take longer time
than the traditional methods of advertisement, but the impact is, and a large group of audience is
targeted in a minimum cost.
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