Social Networks in Business Analysis

This research project investigates the advantages and disadvantages of using social networks in business. It covers the impact of social media on marketing, customer engagement, and business performance. The project includes a literature review, research methodology, and analysis of data collected from various sources. It aims to provide insights into how social networks can enhance or hinder business operations.

RUNNING HEAD: Advantages and disadvantages of Using Social Network in Business
Advantages and disadvantages of Using Social Network in Business

Advantages and disadvantages of Using Social Network in Business 1
Table of Contents
Research title:.............................................................................................................................2
Introduction................................................................................................................................2
Project objective.........................................................................................................................3
Project scope..............................................................................................................................4
Literature review........................................................................................................................5
Research questions/Hypothesis..................................................................................................7
Research methodology...............................................................................................................8
Research Limitations................................................................................................................10
Time schedule (Research Plan)................................................................................................11
Conclusion................................................................................................................................13
References................................................................................................................................14
Appendix..................................................................................................................................16

Advantages and disadvantages of Using Social Network in Business 2
Research title: Advantages and disadvantages of Using Social Network in Business
Introduction
This research project has been conducted on the topic “Advantages and disadvantages of
using the social network in business”. Advantages and disadvantages associated with the use
of social network have been discussed in this research program. The social network has
provided a platform to the business for promoting the products or services offered by the
business. There has been a rise in the use of social networking platforms in business
(DeMers, 2014). The scope of the social networking in business has been discussed in this
research program. For the purpose of gathering this data, various methods or techniques have
been applied.

Advantages and disadvantages of Using Social Network in Business 3
Project objective
This research program has been conducted with an objective to develop the knowledge of the
concept of social network and analysis of the trend of use of social network in business. The
focus of this research will be on gathering knowledge related to the advantages and
disadvantages of using the social network in business. The scope of the social network will be
defined in this research.

Advantages and disadvantages of Using Social Network in Business 4
Project scope
The scope of this research program has been focused on the various advantages and
disadvantages of using social networking platforms in business. This research program will
develop the knowledge of the scope of social network and the importance of social
networking platforms for the businesses in this dynamic business environment. Objectives of
the social networking in business will be discussed in the research.

Advantages and disadvantages of Using Social Network in Business 5
Literature review
With the change in the business environment, there has been a change in the methods or
measures used for the promotion of the products or services used. Social networking
platforms are being used by the businesses for enhancing the customer base by attracting the
customers towards the business. Different social networking platforms are available which
are used by the businesses (Elison, 2007). Social networking platforms help the business in
enhancing the performance and increasing the sales of the business. Different individuals
have different views towards the use of social networking platforms in business. The analysis
is made of the different aspects attached with the use of social networking platforms for
making decisions regarding the use of social network (Fernando, 2012).
There are various advantages associated with the use of social networking platforms which
enhances the performance of the business. A social network is an effective tool for sharing
information related to the products or services with the customers or potential customers.
Businesses are using the social network for questioning the customers regarding the quality
of the product and collecting feedback from the customers (Kumar, 2017). It has reduced the
efforts and cost of the business which helps the business in focusing on the important aspects
of the business. The social network is an effective way for the promotion of the brand and
making the brand recognized. Businesses are capable of collecting information related to the
taste, preference, and choice of the customers (Nadaraja & Yazdanifard, 2013).
With the increase in the use of social network, there has been a rise in the thefts and fraud due
to which confidentiality of the business is at risk. The number of cyber crimes is increasing
due to which concern of the business is increasing. There have been cases when the use of
social networking has affected the reputation of the business in a negative manner. Social
networking platforms are time-consuming which affects the functioning of other operations

Advantages and disadvantages of Using Social Network in Business 6
of the business. Competitors may take advantage of the information of the business available
over the social networks (Sachs, 2016).

Advantages and disadvantages of Using Social Network in Business 7
Research questions/Hypothesis
Primary question
 What are the pros and cons associated with the use of social network in business?
Secondary questions
 What is the trend of use of social networking platforms in this changing business
environment?
 What are the objectives of using social networks in business?
Hypothesis
 Social networking platforms have reduced the efforts of the business and contributed
towards the increase in sales and customer base of the business.
 Social networking in business can affect the business in a negative manner.

Advantages and disadvantages of Using Social Network in Business 8
Research methodology
Research design or method: analysis has been made of the different research methods for
the purpose of selecting the most suitable research method. Mixed research method will be
used for initiating the process of data collection on the basis of which chances of successful
completion of the research is dependent. Mixed research method will use qualitative and
quantitative research methods (Nirmala, 2013).
Research Philosophy: Interpretivism research philosophy has been chosen for this research
program with a motive to develop knowledge of the manner in which researcher applies
different methods for targeting the research issues and limitations. Data will be collected for
identifying the advantages and disadvantages of using the social network in business (Winit-
Watjana, 2016).
Research approach: Qualitative and quantitative research approaches have been selected for
the execution of this research program. Both these approaches will be used for gaining the
required information regarding the research topic (Quick & Hall, 2015).
Data collection: for the initiation of the data collection process, data collection methods have
been selected. Primary and secondary data will be gathered for conducting the research in a
successful manner. Primary data can be defined as the raw form of data which a researcher
collects directly from the respondents. Secondary data can be defined as the second-hand data
which a research collected from the secondary sources (Johnston, 2014).
Procedures and techniques: data collected is in large quantity and for the analysis of the
data within the limited time frame; a random sampling technique will be applied. Random
sampling technique will be used as this technique helps in analysis of the data where a
selection of the sample is done in an unbiased manner (Kulshreshtha, 2013).

Advantages and disadvantages of Using Social Network in Business 9
Research strategies: A sequential explanatory strategy has been chosen for conducting this
research program. This strategy will ensure that the research is carried out in a sequence.
Choice: different approaches will be applied for executing the research and selection of these
approaches have been made by properly analyzing different alternatives available.
Research timeframe: An action plan has been prepared which include different activities.
These activities will form the basis for the execution of the research program in a sequence
and proper manner.
Collection of data and targeted market: data collection process will be initiated by
targeting the market from data will be gathered for this research program. Primary data will
be gathered from the employees of companies using social networking platforms. Secondary
data will be gathered from the internet sources (Smith, 2015).
Ethical consideration: ethical considerations are crucial for the execution of every activity
and these considerations ensure that the activity is carried out without harming the interest of
any individual. While executing this research program, the focus will be on ensuring the
reliability and authenticity of the data by conducting the research honestly, by maintaining
confidentiality and presenting the data in a fair manner.

Advantages and disadvantages of Using Social Network in Business 10
Research Limitations
There are few limitations which have been identified while conducting this research program.
These limitations which could have affected the execution process of the research program
need to be dealt with the use of different approaches or techniques. These limitations include
lack of availability of time for conducting the research, lack of access to the information and
lack of availability of resources for conducting the research.

Advantages and disadvantages of Using Social Network in Business 11
Time schedule (Research Plan)
Sequence Activities Initiation
date
Duration
(in Days)
Completion
date
Description
of the
activity
1) Making decisions
regarding the
research topic
30
September
2017
3 02 October
2017
Selection
will be made
on the topic
for the
research
program.
2) Construction of
plans
03 October
2017
6 08 October
2017
Plans will be
constructed
for the
purpose of
initiating the
research
program.
3) Implementation
of the plans
09 October
2017
8 16 October
2017
Plans
formulated
for the
initiation of
the research
will be