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Social Networking in Business

   

Added on  2020-03-02

13 Pages2974 Words123 Views
Running Head: Social Networking in Business1The Advantages and Disadvantages of using Social Networking in BusinessStudent’s NameProfessor’s NameCourse Name

Running Head: Social Networking in Business 2Table of ContentsIntroduction: Social Networking in Business3Project Objective3Project Scope3Literature Review4Advantages5Disadvantages7Conclusion9

Running Head: Social Networking in Business 3Introduction: Social Networking in BusinessIn the last few years social networking through the social media has become ubiquitous and an important tool in the everyday life of the people in all walks of their lives. The SNSs or theSocial Networking Sites like the Face book, MySpace, and YouTube have millions of people accessing them every day for a variety of interests, reasons, and practices. The impact of Social Networking is becoming increasingly pervasive and can be felt in all the spheres of themodern life from educational, social, economic, business, and marketing (Ricciardi, 2014). The social networking sites with their wide reach and impact are becoming an important channel for most of the business organisations today. The purpose of this study is to present the impact of social networking on the business organisations today and how the business today is using the social networking channel as a strategic tool for expanding the reach of their business.Project ObjectiveThe objective of this project is to study the advantages that the social networking is providingto the business organisations today and how is it helping businesses to spread their reach more effectively than the traditional marketing and promotion methods.Project ScopeThis study will also examine the various disadvantages that occur with the use of social networking for business. This paper will examine the different challenges and problems presented by using social networking as a strategic tool for marketing and advertising of a business organisation

Running Head: Social Networking in Business 4Literature ReviewSocial media networking has been in existence for a period less than two decades but has gained widespread prominence in all segments of society. Social networking sites like LinkedIn, Face book, MySpace, Twitter, Instagram, and much more have gained a following of more than one billion users in just about a decade of their existence and the users continue to grow in numbers every day (Social Media: What are the advantages and disadvantages of social networking sites, 2016). The commercial value and potential of the social networking became apparent to business leaders and soon the social networking became an integral part of the marketing and advertising department of business organisations. While individuals use the social networking to build personal relationships and personal interaction, the business organisations consider them as platforms on which they can interact and communicate with the existing and potential customers directly (Nadaraja, & Yazdanifard, 2013). This presents a paradigm shift from the earlier used traditional methods of customer interaction as the companies can connect to millions of customers at the same time with just the click of a button. The prospective and the existing customers also make use of this platform to gain more information about the company and their business practices in much faster way. Any marketing strategy using the social networking sites has a reach that cuts across borders and reaches a much wider horizon and can be accessed by anyone who has an internet connection anywhere in the world. Social networking in business has many advantages but at the same time like any other business strategy, it has some prominent drawbacks or disadvantages which can have strong impacts on the business (Abrons, n.d.).

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