Business Research: Social Networks in Wesfarmers Limited, Australia

This business research report investigates the advantages and disadvantages of utilizing social networks in a business context, specifically focusing on Wesfarmers Limited in Australia. The report begins with an introduction highlighting the increasing importance of social media in today's dynamic business environment and its role in connecting with stakeholders. It establishes project objectives, scope, and a literature review covering various social media platforms and their impact on business functions like marketing and customer engagement. The research includes a justification for the study, research questions, and a detailed research design and methodology, including qualitative research methods, sampling techniques, and data collection methods using both primary and secondary sources. The report also addresses research limitations and provides a time schedule for the research plan, culminating in a conclusion summarizing the findings and a list of references.

RUNNING HEAD: Business Research
Business Research
Advantages and Disadvantages of Using Social Networks in Business: In context
of Wesfarmers Limited, Australia

Business Research 1
Table of Contents
Introduction......................................................................................................................................2
Project Objective.............................................................................................................................3
Project Scope...................................................................................................................................4
Literature Review............................................................................................................................5
Justification......................................................................................................................................7
Research Questions/Hypothesis.......................................................................................................8
Research Design and Methodology.................................................................................................9
Research limitations.......................................................................................................................11
Time Schedule (Research Plan).....................................................................................................12
Conclusion.....................................................................................................................................13
References......................................................................................................................................14
Appendix........................................................................................................................................15

Business Research 2
Introduction
Role and importance of Social media networks are increasing in this dynamic business
environment. Social media networks are the web-based communication technology which is
being used by the companies for communicating with others. In this fast-changing environment
where competition is increasing, there has been a rise in the use of different social network
techniques. Social media networks are the platforms which provide a base to the company for
communicating with the different stakeholders. The number of the people using social media
networks or platforms has increased for the sharing of information and data with each other
(Bank & Bank, 2015).
Wesfarmers Limited is using social media platforms for interacting with a large number
of customers and covering the large area. Impact of the use of social media platforms by the
companies can be seen in the business functions of the company. The focus of Wesfarmers is on
influencing a large number of people with the use of social media platforms. With the use of
social media networks, companies can generate awareness among the customers regarding the
products or services offered. Companies are using social media networks for reducing the cost
and time involved in communicating or interacting with the customers. Impact of the use of
social media platforms can be seen on the functioning or performance of the companies (Ciprian,
2015).
This research program will discuss the concept of social media networks, positive as well
as negative aspects attached to the use of social media platforms to the companies. Different
research methods will be analyzed for the purpose of selection of a most suitable method for
accumulation of the data.

Business Research 3

Business Research 4
Project Objective
This research program has been initiated on the chosen topic so as to assemble data for
developing the knowledge and understanding of different aspects related to the topic. Few
objectives have been formed on the basis of which data collection process will be initiated. The
main objective of this research program is to accumulate data regarding the advantages and
disadvantages of using social media networks in the business in relation to Wesfarmers Limited,
Australia. The focus of the research will be on identification of the meaning and concept of
social media networks and different positive and negative aspects attached to the use of social
media platforms by companies.

Business Research 5
Project Scope
This research program will cover the trend of using social networking by the businesses. It is
vital for the business to understand the role and importance of social networking platforms along
with the benefits and limitations of using social media networks. For enhancing the knowledge
regarding these aspects attached to social media networks, different articles, journals,
notifications and online publications will be used. This research project has been undertaken with
an objective to enhance the knowledge regarding the use of social networking platforms and their
role in shaping the performance of the business.

Business Research 6
Literature Review
Social networks can be explained as the websites which provide a base to the people for
communicating with each other, sharing information, ideas, photos, and videos. Social networks
are a crucial part of the current practices of the business. For enhancing the awareness regarding
the products or services and publicity of the company, social networking platforms are being
used by the businesses. Social networking platforms have helped the business in establishing an
image in the society which forms a base for the growth of the business. A right person needs to
be hired in the right place for grabbing the opportunity available. Different social media
platforms are being considered by the businesses for communicating and interacting with the
customers and potential customers. These different social media platforms include Facebook,
Twitters, YouTube, and Instagram (Kudeshia & Mittal, 2015).
Wesfarmers Limited have used social media platforms for the expansion of the area of
operation by promoting the products or services offered. Companies operating at a different level
are making use of social media platforms for targeting the customers or potential customers.
Level of competition in the business environment is increasing which has resulted in a rise in the
need to adopt effective strategies. Social media platforms are being used an effective strategy or
approach for coping with the rising competition. Companies are using social networking system
for generating positive feedback from the customers and promoting the products or services in
front of the prospective customers. Companies are using social networking system as a
marketing approach for targeting the customers and enhancing the revenue of the company
(Kavanaugh, et. al., 2012).

Business Research 7
Analysis has to be done of the increasing trend of the social media platforms. Advantages
and disadvantages need to be considered while making a decision regarding the use of social
media platforms. Social media platforms have allowed the business to target or retarget the
customers in a better manner. For the purpose of developing brand loyalty, businesses focus on
adopting effective approaches. Social media networking is an effective approach which has
encouraged the business to target the market in a better manner. Analysis has to be done in the
competitive environment so as to analyze the practices adopted by the business. There has been a
shift towards the use of digital media (Kaplan & Haenlein, 2010).
Different advantages of using social media platforms or networks have been identified by
different authors. Social media platforms have enabled the companies to spread awareness
regarding the products or services between the customers (Houghton & Joinson, 2010).
Decision-making process of the customers gets affected by the information shared by the
business with the help of social media platforms. For enhancing the relationship with the
customers, businesses need to adopt social networking system. Online presence of a large
number of companies operating at different levels has been identified (Forest & Wood, 2012).
In the words of Gryshсhenko & Niesheva (2013), the positive impact of the social
networking can be seen on the ranking of the company on the search engine. Businesses are
using social networking platforms for enhancing the traffic on the websites of the company. It
has been identified that more than 58 % of the companies have gained benefit by using the social
network for enhancing search engine ranking. Feedbacks of the customers or reviews of the
customers can be collected with the use of social networking platforms. Recognition of the
business has been increased at the global level with the use of social media platforms. Customers

Business Research 8
can access data or information regarding the business anytime from anywhere with the use of
social networking platforms (Kudeshia & Mittal, 2015).
On the contrary, there are few limitations attached to the use of social networking
platforms by the business. Social networking system can affect the personal touch of the business
with its customers. This can affect the performance and functioning of the business. Hidden cost
may occur which can affect the financial performance of the business (Ciprian, 2015). Security
related threats to the confidential data of the business increase with the increasing use of social
networks. Brand image is at risk as negative feedbacks by the customers can affect the image of
the company. Competitors can use social networking platforms for their benefit by spreading
misleading information (Hollebeek, 2017).

Business Research 9
Justification
The discussion has been made regarding the importance of social networking platforms in the
dynamic and competitive business environment. Social networking platforms are an important
aspect of the current business environment which are creating an impact on the functioning of
the business. Social media has contributed to the marketing function of the business by
enhancing the reputation and awareness of the business. Social networking system has provided
a base for the expansion of the area of operation.
On the other hand, few disadvantages have been covered in this research which is affecting the
performance and functioning of the business adversely. These disadvantages have been
considered in this program.

Business Research 10
Research Questions/Hypothesis
This research project has been initiated with an objective to assemble data regarding the research
topic. Research questions have been constructed which will form a base for the accumulation of
the data regarding the research topic.
Primary Question
 What are the positive and negative implications of social media platforms for business?
Secondary Questions
 What is the role and importance of social media networks for business?
 Which factors are behind the increasing use of social media networks by the businesses?
 What factors have motivated Wesfarmers Limited to use social media networks?

Business Research 11
Research Design and Methodology
Under this section, different approaches and methods are discussed which are to be used for the
accumulation of the required data. For putting the different activities of the action plan into
action, there is a need to accumulate the required data. Analysis of the data will be done of the
accumulated data. For the attainment of the objectives of the research, there is a need to use
effective approaches for assembling the quality data.
Qualitative research method
This method will be used for meeting the objectives of the research program by providing quality
data regarding the research topic. The qualitative method helps in providing clarity regarding the
various aspects attached to the topic of the research program. Clear view of the issues or
problems related to the research topic is developed with the use of the qualitative method (Rahi,
2017). Qualitative research method will help in accumulation of the data for developing
knowledge of the concept of social media platforms, the trend of using social media platforms
and various advantages and disadvantages attached to the utilization of social media platforms by
the business.
Approaches to Reliability and Validity
Reliability of the data has to be maintained for ensuring that the quality of the research is not
being compromised. Approaches need to be selected by ensuring that these approaches ensure
the quality of the data.