LSST FY028 Inquiry Project Report: Impact of Social Media on Business

This report investigates the impact of social media on business performance, examining its role in the modern marketplace. The introduction provides background information and outlines the aim to investigate the influence of social media on business. The research methodology explains the use of secondary data collection through books, journals, and articles, along with qualitative research methods. The literature review explores the significance of social media, its impact on brand awareness, sales, and customer relationships, drawing on various sources. The discussion section analyzes both positive and negative impacts, emphasizing the need for effective social media strategies. The conclusion highlights the essential role of social media in business growth. The report uses secondary research methodology and includes references.

Impact of social media

Table of Contents
Topic: - Impact of social media on business....................................................................................3
Introduction......................................................................................................................................3
Research Methodology....................................................................................................................6
Discussion........................................................................................................................................8
Conclusion.......................................................................................................................................8
REFERENCES................................................................................................................................9

Topic: - Impact of social media on business
Introduction
Social media is considered as the interactive computer technology that helps in providing facility
related to sharing of data, information and ideas in front of customer at marketplace. There are
different types of social media technique which includes advertisement, publicity, public relation
as well as sales promotion in order to develop their products as well as services in an effective
manner. The main purpose of every organisation is to promote the goods as well as services in
market that helps in boosting sales as well as profitability level in future period of time.
Therefore, it has been stated that the manager of every company motivates its employees to
adopt various social media technique for developing products at marketplace. In this report, the
aim and objective of social media as well as problems which imposes negative impact on social
media is mentioned in an effective manner (Ahmed, Opoku and Aziz, 2016).
Problem statement
There are different problems related to social media which arise within business
organisation at workplace. It has been stated that due to lack of effective strategy, thus imposes
negative impact on profitability as well as sales of organisation in future period of time. In
addition to this, the limited is the reason that creates problems and issues at marketplace. Due to
change in trends of social media such as face book and Instagram is changed very frequently by
every month. Therefore, it enforces negative influence on profit of company in future time
period. Thus, it has been stated that there is the different kinds of problems which is related to
social media that affect performance level of every organization at marketplace (Barger, Peltier
and Schultz, 2016).
Research Aim:
“To investigate the impact as well as influenceof social media on the business
performance at competitive marketplace”.
Research Objectives:-
 To understandthe concept and significance of social media.
 To examinethe impact of social media on the performance of business organization.

 To identify different social media platform used by business organisations in order to
grab opportunities.
Research Questions:
 Explain the concept and significance of social media?
 What is the impact of social media on the performance of business organization?

 What is the different social media platform used by business organisations in order to
grab opportunities Literature Review
Significance of Social Media
On the basis of view point of (Bode, 2016), Social media is considered as the interactive
computer technology that helps in providing facility related to sharing of data, information and
ideas in front of customer at marketplace. There are different types of social media technique
which includes advertisement, publicity, public relation as well as sales promotion in order to
develop their products as well as services in an effective manner. There is various significance of
social media is that it aid assistance in boosting awareness related to brand in front of customer
at marketplace. In addition to this, it also helps in generating leads which will be beneficial for
success and growth of organisation during the period of time. It boosts sales as well as
profitability level in upcoming time period. Apart from this, it aid assistance to company to
recognize their product brand in front of customer in the market. Their main purpose is to target
large number of customer in order to satisfy them. They focus on achieving target within given
period of time. Therefore, there are different social media tool which is used to promote products
and services at marketplace. It increases brand image and reputation of company in front of
customer at marketplace. Through advertising, they want to attract ample of buyer towards
products as well as services of business organisation. It also helps in retaining customer for
longer period of time. They focuses on maximize rate of return in order to decrease the expenses
which imposes negative impact on profit of business organisation. Thus, it has been stated that
social media is adopted for sharing information for increasing brand value and reputation of
products as well as services at marketplace. And also, it is the reason of boosting sales and profit
in future period of time.
According to the opinion of (Daniel, Kumar and Omar, 2018), social media imposes
direct impact on success and growth of business organisation at marketplace. The social media is
adopted to increase performance level of company. And also, it helps in improving better
relationship with its customer in the market. In addition to this, it aid assistance in collecting
effective information related to need and demands of customer at marketplace. Therefore, it has
been stated that, social media imposes both positive and negative impact on sales and
profitability of organization in future period of time. The social media increases brand value and

reputation of company in front of customer which enforces positive influence on performance
level of organisation. On the other hand, it increase cost related to social media that imposes
adverse effect on sales and level of profit of business organisation at marketplace.
As per the viewpoint of (Dobson, 2016), there are different types of social media tool which
includes face book, Instagram, twitter and many more which imposes direct impact on
performance level of business organisation. Face book is used for promoting brand awareness of
products in front of customer at marketplace. In addition to this, Instagram is used for attracting
large number of customer within business organisation. It increases sales and profit in future
period of time at marketplace. Apart from this, Twitter is the social media which is used for
achieving leading position of company across the world. It helps in increasing market share that
boost brand value and reputation of company in mind-set of customer at marketplace. Linked in
is the best social media tool which is used by HR professional within business organization. It
helps them in recruit capable and talented employees for providing better services to its customer
at marketplace. It increases performance and productivity of business organisation in future
period of time.
Research Methodology
Research methodology defineas a process adopted by investigator so that they can easily
fulfil their research in an effective manner and produce accurate as well as systematic outcome
related to a specific topic. RMis an important section for every research as it assist in completing
the whole research in more accurate manner. Thereare some essential elements which needs to
be considered by the researchers while conducting investigation in an effective manner (King
and Mackey, 2016).
Data collection methods:It refersto an approach which consist of two main kind of
method for gathering information and data so that the whole research will be concluded in an
appropriate manner. These twomethods are primary and secondarydata collection method used
by researcher to complete the project. Forthe present investigation, secondarydata collection
method is adopted so that positive outcome will be produced within limited time period. Along
with this, researcher use books, newspaper, articles, journals and manyother sources so that valid
and authentic information and data will be gathered by researchers. It has also been identified
that the main aim behind choosing this approach is that this method is cost effective and assist in

gathering all the information within given time frame. As a result, these approaches produce
positive outcomes which are authentic, reliable and accurate.
Types of investigation: Itis a type of approach with the assistance of which data and
information gathered by researchers will be examined and analysed in an appropriate manner.
There are mainly two sort of investigation which arequantitative and qualitative research
approach. Inrelationto the presentresearch context, it has been identified that investigator choose
qualitative method with the help of whichtheycan easily examine allthe gatheredinformation in
detailed waymainly based on the perception of human behaviour.
Research philosophy: Thismethod used by the researcherforexamining and evaluating
the information which is collected by using secondary method. This is a research philosophy
approach which consists of two kind positivism and interpretive philosophy. In referenceto the
present investigation, researcher is going to adopt interpretive philosophy which provides
guidanceto the investigator so that they can perform all the operations in an effective and
appropriate manner (Lau, 2017).
. Research design: In order to do a research, it isvery essential that the structure adopted by
investigator is effective and appropriate which will produce positive outcomes. It has been
concluded that there are three main kind of research design which are experimental, descriptive,
and exploratory. In reference to present research, it has been identified that researcher
adoptexplanatoryresearch design in order to perform the investigation in more ethical and
effective manner. The main aim behind choosing this method is that it willhelp in developing in
depth knowledge about the topic and assist in completing the project in authentic and accurate
manner.
Ethical consideration: It means the researcher is required to perform all the operations
in an ethical manner so that they caneasily conclude the whole research in an appropriate
manner. In reference to the currentresearch, it is said that investigator choose secondary data
collection method. For the researcher it is necessary to gather all the information in an authentic
and accurate manner so that positive outcome will be produced (Vannucci, Flannery and
Ohannessian, 2017). For this, latest articles and journals are used by the researcher so they can
effectively and ethically perform their research functions.

Discussion
Asper the present topic which is impact of social media on the performance of business
organization it has been identified that this is an approach which provides assistance in the
growth and development of an organization in the competitive marketplace. For every
organization, in the present modern era it is required to adopt social media technique so they can
attract large number of customers towards them and maintain long term sustainability at the
competitive marketplace. It has been said that with the help of above mentioned analysis, social
media create both positive as well as negative influence on the business functions which may
improve their profitability and might reduce the goodwill at competitive environment. Apart
from this, it has been examined that by implementing social media techniques in the marketing
process in an effective manner, company will be able to gain opportunities available at the
marketplace. Furthermore, in the current investigation it has been identified that the needs and
wants of customers are changing on a regular basis which influence the overall functionality of
the company and for this managers need to adopt social media platforms. This will help them in
examining the requirement of customers and they can easily satisfy their wants and demands in
an effective manner. As a result it can be said that social media create positive impact on the
growth and development of business performance. But on the other hand negative reviews and
comments on company’s official website might affect the overall image of the company in a
negative manner. Therefore, it can be said that social media have both positive and negative
impact on the performance of business organization (Wiek and Lang, 2016)
.
Conclusion
With the help of above mentionedinformation, it is said that in current advanced
marketplace social media plays very essential role in the growth and development of an
organization. It has been said that by adopting social media approaches in an effective manner
within the organization can provide assistance in a positive manner in order to conduct the
business functions effectively. Furthermore, it has been identified thatin order to complete the
whole research effectively; secondary research methodology is used by investigator.

REFERENCES
Books & Journals
Ahmed, V., Opoku, A. and Aziz, Z. eds., 2016. Research methodology in the built environment:
a selection of case studies. Routledge.
Barger, V., Peltier, J.W. and Schultz, D.E., 2016. Social media and consumer engagement: a
review and research agenda. Journal of Research in Interactive Marketing.
Bode, L., 2016. Political news in the news feed: Learning politics from social media. Mass
communication and society, 19(1), pp.24-48.
Daniel, B., Kumar, V. and Omar, N., 2018. Postgraduate conception of research methodology:
implications for learning and teaching. International Journal of Research & Method in
Education, 41(2), pp.220-236.
Dobson, A.S., 2016. Postfeminist digital cultures: Femininity, social media, and self-
representation. Springer.
King, K.A. and Mackey, A., 2016. Research methodology in second language studies: Trends,
concerns, and new directions. The Modern Language Journal, 100(S1), pp.209-227.
Lau, W.W., 2017. Effects of social media usage and social media multitasking on the academic
performance of university students. Computers in human behavior, 68, pp.286-291.
Vannucci, A., Flannery, K.M. and Ohannessian, C.M., 2017. Social media use and anxiety in
emerging adults. Journal of affective disorders, 207, pp.163-166.
Wiek, A. and Lang, D.J., 2016. Transformational sustainability research methodology.
In Sustainability science (pp. 31-41). Springer, Dordrecht.