Discuss about the Multi-National Corporations for Knowledge Management.
There is a significant role of social media in business world irrespective of scope, niche and size of the company. Companies all over the world are connected together because of social media and the companies can also establish a better connection with their customers by engaging with them in a better way (Paulin, Dan and Suneson 2015). Social media helps the companies to know the problem of their customers and modify their service or products accordingly.
This report shows a detailed study of social media on Multi-National Corporations. Social media helps organizations in many ways. This report shows the advantage of social media on different sectors of organizations. This study shows a detail about how social media enhance knowledge sharing as well as helps to build social capital in the organization. This report also shows in details about hoe social media helps to support innovation and aids to solve problems in Multi-National Corporations. There are also some flaws of social media that are discussed elaborately in this report. Social media is very much helpful to all organization from small to big including MNCs as employees can access the social media through mobile only.
Social media is now a days aided in marketing and has provided Multi-National corporations with many options of capabilities as well as benefits. Social media works properly if they are integrated properly with the business and if the Multi-National corporations are capable of managing the functions of social media properly (Razmerita et al. 2016).. In this modernization period, social media and its network has become one of the most famous channels for collaboration as well as communication globally. For using the social media to get potential result in this competitive age and for creating value, global management is very much necessary.
Many Multi-National corporations uses social interactions as a medium of communication in between the managers of the companies also. Not only social media helps to communicate with the customers, but also helps to establish a communication in between the employees and managers of a corporation. Social media is also used in Multi-National corporations for stimulating inter business knowledge sharing (Pereira et al. 2017). Mainly for knowledge sharing, face to face interaction is established for a communication channel especially for transferring non-codified and tacit knowledge. Social construction in the form of knowledge is mainly provided by social interaction in learning dialogue. So, social media is a medium that makes social interaction positively moderate, which effects all factors that gives rise to knowledge in different Multi-National Corporations. Social learning gives independent effect for social interaction in humans that stimulates intra knowledge flow in Multi-National corporations. Both the qualities of social media helps in knowledge sharing in Multi-National corporations that can enhance the competition of business in the market.
The social media provides many facilities to Multi-National Corporations. The investments of social media includes:
Knowledge sharing is very essential for the Multi-National Corporations for making their global network dispersed for the foreign subsidiaries. Categorization as well as power relations of social media affects the knowledge and information sharing process in the MNCs. New Multi-National Corporations that are being built up mainly associates high dispersed, strategically, as well as technological subsidiaries (Lauring, Jakob and Zhang 2018). The social media innovation involves high international knowledge exchange with a very high proportion of innovation processes across the subsidiaries. There are managerial attributes that effects some distinction in between the role as well as importance of the headquarters and subsidiaries of international network. The increase in strategic importance of the subsidiaries are the main source of knowledge and innovation. There is also an importance for central management in the Multi-National Corporations for exploring the global competitive advantage. Knowledge sharing helps to increase the knowledge in the company which in turn helps to increase the competition level in the market.
There are many social media sites such as Facebook, LinkedIn, Twitter that are very useful for the managers of the Multi-National Corporations for promoting knowledge as well as building an efficient team. If the social media is applied selectively as well as appropriately, the facilities of social media helps to increase the sources of innovation and helps in problem solving within Business Corporation (Mudambi, Ram and Navarra. 2015). The word social media sounds to be a bit off-putting and misleading for using it in the business as it is mainly used for the purpose of recreation as well as time pass. But, understanding the importance of the social media helps the company to carry out its activities properly and efficiently. If the managers understands the use of social media in an organization, it might help to establish a strong place in the market.
Social media also helps to build a social capital within a Multi-National Corporation. Social capital is mostly characterized into three types: structural, relational, as well as cognitive. The structural categorization of social capital is mainly based on network consisting the people that is known by an individual and from where information can be accessed (Leonardi 2017). The main important feature of structural social capital includes the total number of ties that a person has and with whom the person tie with and how strong the tie is with the person. The second social capital is the relational pat which describes the personal relationship that people possess with another person through interaction history. This relational social capital results to build trust with each other and also encompasses associability which grows with time. Associability refers to the willingness as well as ability of the participants that are involved in a Multi-National Corporation for subordinating the individual goals as well as associating the actions of the organization. The third social capital is cognitive (Osch 2015). This cognitive capital includes the resources that includes shared representations, systems, as well as interpretations of the meanings among the parties that are described as sharing the goals. The cognitive capital also involves sharing norms as well as values for building up trustworthy relationship over time.
There are some other advantage of social media as well that provides the organization with customizability to specify the organization purpose and goals of the MNC. Social media includes not only using Twitter, LinkedIn, or Facebook, but also includes lot of more specialized sites that use the picture sharing, bookmarks, or the application that are cropped up. There are also professional blogs and Wikipedia pages that increases the use of social media and building of social capital in Multi-National Corporation
Social media in Multi-National Corporations is an excellent process for reaching out the existing customers as well as potential customers. Social media take advantage of their creativity. There are mainly two ways that uses network for developing new products as well as new service in an organization.
There are many advantages of social media for supporting the innovation in a Multi-National Corporation. Social media involves many minds work and network together, and open sourcing and crowdsourcing enables the people to work together on bigger scale (Arpaci, Ibrahim and Balo?lu 2016).. By implementing the online contract network, the advantages that can be achieved are stated below:
Social media leads to problem solving in a Multi-National Corporation that involves complex as well as interdependent process. These processes involves framing of non-routine problems and finding the corresponding solutions as well as solution scoping.
The framing of non-routine event is mostly experienced in Multi-National Corporations. The subsidiary managers mainly have to frame all non-routine problem that includes defining and understanding the nature, boundary and scope of building conceptual interpretation. Because of many ambiguities, ill-structured, and complexities of the nature of problem, it is very hard to comprehend the problems accordingly. It is also very difficult to initiate appropriate actions for stimulating the development solutions. Social interaction helps to define all such problems accurately.
The activities of solution finding includes actions that identifies as well as develops the solutions that includes knowledge search. The knowledge searching is basically defined as the actions of looking and also for identifying the knowledge that can be potentially accessed. Searching involves balancing the effort as well as time that is spent evaluating and seeking knowledge (Sadler, Rory and Evans 2016). The managers of the Multi-National Corporations may copy solutions, but the novelty of the non-routine problems are needed to accumulate the knowledge for creating solution or developing new combination of the existing knowledge. For getting solution creation, the subsidiary managers needs their will and should be able to access the distributed MNC and different knowledge packets for increasing the chances for identifying knowledge for the purpose of recombination.
The risks that are associated with social media on Multi-National Corporations includes:
The skilled resources that are mainly needed and are available for manipulating as well as responding to the social media in Multi-National Corporations are mostly costly and hiring of those resources are also difficult because of social media’s intangible nature of outcomes.
Basically a Multi-National Corporations operates on various countries that have different legislation and standards. So, using the social media globally requires good management abut the country it is working for and about its legal standards.
As social media is used by people all over the world and Multi-National Corporations has to work globally, language becomes a problem for communicating both externally and internally (Fortis et al. 2018). The difference in language that are present in MNCs may become a barrier for adopting the type of technology in the organization.
Conclusion and Recommendations
Internet has enabled people to establish a better connection with other people all over the world irrespective of space and time. This internet has helped social networking via sites of social media. There are high scalable technologies as well as high accessible technologies that are used for creating social network for online content. Social network are mainly online communities consisting of people sharing common interest or some activities. The users interact with each other via social media in many ways such blogs, instant messaging, newsfeeds, email, Facebook, twitter and many more. These medium of communication uses information to the network. These networks are very much valuable for the multi-national corporation to establish a business in the market. Social network is considered as a powerful medium through which the MNCs can enable communication. Some examples of the social networking sites that the MNCs use as their medium are Facebook, Twitter, and some professional networks such as LabRoots and LinkedIn. People connects with the companies, read as well as share their views related to the companies through these social networking only.
Bibliographical References
Paulin, Dan, and Kaj Suneson. “Knowledge transfer, knowledge sharing and knowledge barriers–three blurry terms in KM.” Leading Issues in Knowledge Management, Volume Two 2 (2015): 73-94.
Mudambi, Ram, and Pietro Navarra. “Is knowledge power? Knowledge flows, subsidiary power and rent-seeking within MNCs.” In The Eclectic Paradigm, pp. 157-191. Palgrave Macmillan, London, 2015.
Pereira, Vijay, Ashish Malik, Liza Howe-Walsh, Surender Munjal, and Manjusha Hirekhan. “Managing Yopatriates: A longitudinal study of generation Y expatriates in an Indian multi-national corporation.” Journal of International Management 23, no. 2 (2017): 151-165.
Razmerita, Liana, Kathrin Kirchner, and Pia Nielsen. “What factors influence knowledge sharing in organizations? A social dilemma perspective of social media communication.” Journal of Knowledge Management 20, no. 6 (2016): 1225-1246.
Leonardi, Paul M. “The social media revolution: Sharing and learning in the age of leaky knowledge.” Information and Organization 27, no. 1 (2017): 47-59.
Lauring, Jakob, and Ling Eleanor Zhang. “Knowledge Sharing Across National Cultural Boundaries and Multinational Corporations.” In The Palgrave Handbook of Knowledge Management, pp. 381-407. Palgrave Macmillan, Cham, 2018.
van Osch, Wietske, Charles W. Steinfield, and Brigitte A. Balogh. “Enterprise social media: Challenges and opportunities for organizational communication and collaboration.” In System Sciences (HICSS), 2015 48th Hawaii International Conference on, pp. 763-772. IEEE, 2015.
Sadler, Rory, and Richard David Evans. “Social Media Strategies in the Retail Sector: Analysis and Recommendations for Three Multi-National Retailers.” In Proceedings of the The 3rd Multidisciplinary International Social Networks Conference on SocialInformatics 2016, Data Science 2016, p. 22. ACM, 2016.
Fortis, Zeynep, François Maon, Jeff Frooman, and Gerald Reiner. “Unknown knowns and known unknowns: Framing the role of organizational learning in corporate social responsibility development.” International Journal of Management Reviews20, no. 2 (2018): 277-300.
Arpaci, Ibrahim, and Mustafa Balo?lu. “The impact of cultural collectivism on knowledge sharing among information technology majoring undergraduates.” Computers in Human Behavior 56 (2016): 65-71.
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