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Strategic Business Operation Report - Social Media Aspects

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Added on  2020-04-01

Strategic Business Operation Report - Social Media Aspects

   Added on 2020-04-01

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Running head: ASPECTS OF SOCIAL MEDIA FOR IMPLEMENTING STRATEGIC BUSINESS OPERATIONAspects of Social Media for Implementing Strategic Business Operation: Case Study ofWoolworths Limited and Lion Nathan
Strategic Business Operation Report - Social Media Aspects_1
ASPECTS OF SOCIAL MEDIA FOR IMPLEMENTING STRATEGIC BUSINESS OPERATIONTable of Contents1. Introduction..................................................................................................................................32. Project Objectives........................................................................................................................33. Project Scope...............................................................................................................................44. Literature Review........................................................................................................................54.1 Roles of Social Media............................................................................................................54.2 Advantages and Disadvantages of Social Media in the Business Operations of WoolworthsLimited and Lion Nathan.............................................................................................................64.3 Risk Mitigation, Financial Stability and Profitability of Woolworths Limited and Lion Nathan via Social Media..............................................................................................................75. Research Questions......................................................................................................................85.1 Primary Question...................................................................................................................85.2 Secondary Questions.............................................................................................................86. Research Design and Methodology.............................................................................................86.1 Qualitative Research..............................................................................................................86.2 Quantitative Research............................................................................................................97. Research Limitation.....................................................................................................................98. Time Schedule (Research Pan)..................................................................................................109. Conclusion.................................................................................................................................1010. References................................................................................................................................11Page 2
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ASPECTS OF SOCIAL MEDIA FOR IMPLEMENTING STRATEGIC BUSINESS OPERATION1. Introduction Social media is an indivisible amenity in today’s date that surrounded individuals’ personal and professional space. It is a platform through which corporate organizations can reach the maximum number of target audiences at a time. The availability and accessibility are essential, as they have positive implication, which significantly work for the any kind of business organizations in terms of their corporate operations and communicating purposes (Hunsinger & Senft, 2013). Considering this aspect, it can be emphasized that social media is an important tool with the help of which companies are able to maintain their competition in their respective market region. It can also help in generating the effects on financial stability as well as profitability aspects (Swann, 2014). To gain an in-depth understanding regarding the different positive and negative roles of the social media on the business organizations, the present study has developed an integrated research, which focuses on its use by Woolworths Limited and Lion Nathan along with its implications. 2. Project Objectives Considering the approach of research in this particular study, it has constructed certain objectivesthat help to develop research path and assist to obtain an in-depth outcome as well. The following objectives are helped to maintain the research path till the end for developing comprehensive findings of the issue: To evaluate different implications of social media in the business strategies of Woolworths Limited and Lion Nathan To emphasize the associated risks and its mitigation procedures for both the companies with respect to the use of social media Page 3
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ASPECTS OF SOCIAL MEDIA FOR IMPLEMENTING STRATEGIC BUSINESS OPERATIONTo develop an in-depth discussion regarding the two companies on financial stability and profitability aspect 3. Project Scope Fundamentally, project scope reflects the basic portion of the project planning material, which consist a set of deliverable aspects from the respective research work including goals, functions, operative steps and distinctive features among others. After the completion of this project, the scope will be significantly highlighted related to the deliverable areas. This will further enrich the background of the research as well. In this specific project, the scopes, which will be highlighted at the end of the research, are as follows: The significant role of social media in developing strategic businesses for Woolworths Limited and Lion Nathan Strategic business advantages and disadvantages for utilization of social media Associated risks and its mitigation process through incorporation of social media Developing ideas for financial stability and profitability aspects of both the companies Page 4
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