Analysis of Social Network Advantages and Disadvantages in Business

This report provides a comprehensive analysis of the advantages and disadvantages of social networks in business. It begins with an introduction that explains the significance of social networks in the business context, followed by the project's objectives and scope. A literature review explores the impact of social media on marketing, customer interaction, and brand awareness. The report details various advantages, such as reduced marketing costs, increased sales, and enhanced customer engagement, while also addressing limitations like the risk of negative publicity and security threats. The research methodology includes both qualitative and quantitative approaches, outlining the steps involved in data collection, analysis, and the use of questionnaires. The report concludes with a discussion on research limitations and a time schedule, providing a balanced view of social networks in business and their implications for future growth. It emphasizes the importance of businesses understanding the benefits and risks associated with social media to make informed decisions.

Running head: ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN
BUSINESS
Advantages and Disadvantages of social network in business
Name of the Student:
Name of the University:
Author Note:

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
Table of Contents
Assignment 2...................................................................................................................................4
Introduction......................................................................................................................................4
Project Objective.............................................................................................................................4
Project Scope...................................................................................................................................5
Literature Review............................................................................................................................5
Advantages of Social network in business..................................................................................6
Disadvantages of Social network in business..............................................................................7
Research Questions or Hypothesis..................................................................................................8
Primary Questions.......................................................................................................................8
Secondary Questions...................................................................................................................8
Research Design and Methodology.................................................................................................9
Qualitative research.....................................................................................................................9
Steps and Process of Qualitative research...................................................................................9
Approaches to reliability and validity........................................................................................10
Sampling....................................................................................................................................10
Sample size................................................................................................................................10
Data Collection Method.............................................................................................................10
Variables specifications.............................................................................................................11
Quantitative research.....................................................................................................................11

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
Steps and Process of Qualitative research.................................................................................11
Research Instrument..................................................................................................................12
Sampling and Sample Size........................................................................................................12
Reliability and Validity of Data.................................................................................................12
Research Limitations.....................................................................................................................13
Time Schedule...............................................................................................................................13
Conclusion.....................................................................................................................................14
Reference List................................................................................................................................16

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
Assignment 2
Introduction
This study deals with analyzing the advantages and disadvantages of social networks in
business (Whiting & Williams, 2013). In this particular assignment, proper emphasis has been
given on focusing on these topics such as social networks in business. The current project
explains dominance of social network in business as well as how it affects the future of business.
The main purpose of selecting this topic is to understand the benefits and limitations of social
networks in business. As a student of business, it is important to know how business faces
failures or seen favorable in recent context. Social networking can be stated as using certain
software or application for communicating with users that have similar interest like own. The
current segment in detail had explained the dependent variables and independent variables
regarding the study on advantages and disadvantages of social networks in business (Vinerean et
al., 2013).
Project Objective
The main objective of the research study is to recognize the concept of social networks in
business as it is operated by entrepreneurs (Turban et al., 2015). It is even needed to analyze the
gap in this present study after generating the topics on social networks in business. The main
objective of the research study is to get access of valid information about social networks in
business and how far it helps business to sustain in the near future (Whiting & Williams, 2013).

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
Project Scope
The main scope of the study is to explain advantages and disadvantages of social
networks in business. The study clearly defines in the literature review section about the
relatedness of social networks in business (Tsimonis & Dimitriadis, 2014). The research study
properly explains the concepts of social networking used in business and also for interacting
purpose with the users.
Literature Review
As rightly put forward by Sekaran & Bougie (2016), Social Media has become new
boundary for trade for implementing their advertising approach. In addition, social media had
basically changed the way business actually interacts with customers as well as public. Social
Media is an innovative way for approaching the marketplace that has become important tool for
public relations as well as marketing and customer service. Social networking is one of the
virtual communication processes where user interacts with different users such as people with
similar interests (Whiting & Williams, 2013). Social media has provided numerous opportunities
for companies for reaching the customers as well as establishing brand awareness with a low
barrier entry and numerous platforms for utilizing purpose. Furthermore, using social media
platforms to extent prospective is not always easy and come with distinctive set of risks. Social
media impacts both the communication that takes place between individual and business where
the social network development took place in recent times. Popular social networking sites that
are used widely by individuals are Facebook, Twitter and Instagram (Rauniar et al., 2014).

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
Advantages of Social network in business
According to Myers (2013), Social network in business is an excellent way for
broadening their revelation to the public at much lower cost in comparison with traditional
marketing. It is important to establish a social existence on broadly used platforms like Facebook
and Twitter as it will help in targeting new clientele as well as making brand more visible.
Furthermore, there is two way communication that are assisted by the social media platforms as
it can bring improvement in customer service as well as enables business for gaining new facts
about customers and tailoring communication based on that data (Leonardi, Huysman &
Steinfield, 2013).
Some of the advantages of social network in business are listed below with proper justification:
 Social network in business reduces in marketing costs (Whiting & Williams, 2013)
 Social network in business help in increasing sales
 Social network in business help in improving ranking on search engines
 Social network in business help in engaging well with the customers
 It gives an opportunity for getting access to customer feedback
 Social network in business help in enhancing open communication that lead to getting
access to information and delivery
 Social network in business allows employees for discussing ideas, posting news as well
as asking questions and sharing links (Whiting & Williams, 2013)
 Social network in business provides an opportunity to widen business contracts
 Social network in business targets a wider audience that make it a useful as well as
effective recruitment tool

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
 Social network in business improves business reputation as well as client base with
negligible use of promotion
 Social network in business expands in the market research for conducting marketing
campaigns as well as delivering communications and directing concerned people to
detailed websites.
Limitations of Social network in business
As opined by Hajli (2014), Social network in business is one of the powerful tools but it
is not entirely risk-free. It is because fans and followers are free to post their comments in the
social medium that expose industry to the option of getting negative publicity. Furthermore,
quick response helps in minimizing the damage from these comments and erases the criticism
from business on page or feed (Leonardi, Huysman & Steinfield, 2013). In addition, hackers
pose danger to industry on social media where an attacker take over page or feed of company as
well as sharing false information that quickly goes viral. Business have fallen sufferer to hackers
and need to take safety protection at the time of creating passwords as well as sharing password
information with employees (Hair, 2015).
Some of the possible disadvantages of social network in business are as follows:
 Social network in business open up the possibility for hackers for committing fraud as
well as launching spam and virus attacks (Leonardi, Huysman & Steinfield, 2013)
 Social network in business increases the risk of people that falls prey to the online scams
that seems authentic and it is difficult to identify threat

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
 Social network in business results in getting negative comments from the employees on
matters relating to business or possible lawful penalty when human resources uses these
sites for viewing offensive material
 Social network in business results in lost in efficiency when staff seem busy in updating
profiles (Gensler et al., 2013).
Considerations
According to Eriksson & Kovalainen (2015), business mainly set up a existence on
manifold social media channels as it help in gaining clientele without an venture of time and
effort. In addition, an unattended Facebook Page or Twitter feed as it leave a negative notion of
the possible clientele and causes trade in loosing fans and followers. It is essential for the
business to judge their resources at the time of developing social media marketing strategy as it
will help in gaining attention as well as frequent communication that need to embrace social
media in an effective way (Leonardi, Huysman & Steinfield, 2013).
Research Questions or Hypothesis
Primary Questions
1. What are the advantages and disadvantages of social networks in business?
2. What are social networks in business?
3. How the social networks and social media differ from one another?
Secondary Questions
1. How far social networks reduce marketing costs?
2. How far social networks in business help in increasing sales?
3. How far social networks in business enhance greater customer engagement?

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
4. How far social networks in business help in accessing international markets?
5. How far social networks in business gains opportunity for customer feedback?
6. How far social networks in business help in improving networking opportunities with
customers?
Research Design and Methodology
Qualitative research
Steps and Process of Qualitative research
Qualitative research helps in uncovering the reasons for behaviors, motivations as well as
attitudes. This type of research can be performed across many disciplines like social science as
well as healthcare and business. This research uses unstructured data collection methods like
observations, surveys as well as interviews and documents (Denscombe, 2014).
Part 1- Preparing research
Step 1: Deciding on questions that need to be studied
Step 2: Conduct Literature Review
Step 3: Evaluating whether qualitative research best fits the research question
Step 4: Considering ideal sampling size
Step 5: Selecting qualitative research methodology
Part 2- Collecting and analyzing the data
Step 1: Collecting data

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
Step 2: Analyzing data
Step 3: Writing up research
Approaches to reliability and validity
The qualitative data collected for the research study should be valid and reliable
otherwise the whole purpose of the study will be hampered if there is any discrepancy present.
The qualitative information collection should be from valid literature sources such as journal
articles, books and websites (Bryman & Bell, 2015).
Sampling
Thematic analysis will be used by the researcher for this research study where different
themes will be selected that aligns with the research objectives (Leonardi, Huysman &
Steinfield, 2013).
Sample size
There are two types of data that are mainly used by the researcher such as inclusive data
and exclusive data (Leonardi, Huysman & Steinfield, 2013). Exclusive data are those data where
researcher excludes literature sources that are published before 2012 as they are outdated and
lacks accurate information that restrict to get access to latest information. Inclusive data are those
data where researcher includes literature sources that are published after 2012 as they are recent
and help in getting access to latest information about social networks in business (Brooks, 2015).
Data Collection Method
The data will be collected by conducting thematic analysis by taking recent journal
articles that aligns with the research objectives.

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
Variables specifications
The dependent variable in the research study is the factors such as sales, customer
engagement, access to international markets, customer feedback, improved network
opportunities and independent variable in the research study is social networks in business
(Leonardi, Huysman & Steinfield, 2013).
Quantitative research
Steps and Process of Qualitative research
Step 1: Stating the research problem
Step 2: Defining the purpose of the study
Step 3: Reviewing related literature
Step 4: Formulating hypothesis and variables
Step 5: Selecting the research design
Step 6: Selecting the population and sample
Step 7: Collecting data
Step 8: Analyzing the data
Step 9: Communicating findings and conclusions

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ADVANTAGES AND DISADVANTAGES OF SOCIAL NETWORK IN BUSINESS
Research Instrument
Questionnaire is one of the research instruments that contain series of questions as well as
other prompts for the purpose of gathering information from the research participants. This
research instrument is used in descriptive survey studies (Bolton et al., 2013).
For this particular research study, questionnaire method is used where the researcher will
be asking questions to the research participants on matters relating to advantages and
disadvantages of social networks in business. After careful formulation of research questions or
hypothesis, it is important for the researcher to develop data collection method instrument
(Bharati, Zhang & Chaudhury, 2015).
Sampling and Sample Size
The sample size of research participants is 100 who are aged between 15 to 24 years of
age as they are engaged in using social networking sites on regular basis (Leonardi, Huysman &
Steinfield, 2013).
Reliability and Validity of Data
Validity considers as the degree to which an instrument measures what it is need to
calculate. In addition, invalid instruments mainly lead to mistaken research conclusions that
actually manipulate educational decisions.
Reliability considers as the inside constancy or steadiness that is used to measure the
device over passage of time. Reliable information will help the researcher to conduct the
research smoothly without any hassle and get desired outcomes at the same time.