Advantages And Disadvantages Of Using Social Media Networking For Australian Companies

Project Objective

Generally, this research study is developed in order to conduct the research proposal on the topic such as: “Advantages and Disadvantages of Using Social Media Networking.” In the present time, various kinds of social media platforms or networking sites are used by the most of companies & business firms in order to reduce marketing costs, improve profit, enhance market share and attain competitive advantages. Simply, it can be said that, through the effective use of social media networking a lot of tangible and intangible benefits are gained by today’s business firms. This research topic would target the Australian companies those are taking various benefits of social media networking.  In addition to this, the main research topic of study is to “analyze and access the advantages & disadvantages of using social media networking.   

The main objectives of this project or research proposal is to develop a clear understanding in the minds of readers, students and researcher about the advantages and disadvantages of using social media network website in the context of Australian companies (Jue, Marr. & Kassotakis, 2009).

This project/business research proposal is characterized with unlimited scopes. For instance, this research project is provides scopes for the auxiliary investigation in the area of social media networking. In addition to this, this study is also address important research topic for the further research such as: To analyze and evaluate how a company could use social media websites to reduce marketing costs and improve organizational profitability (Jamison, R. & Jamison, 2011).    

According to Al-Deen & Hendricks (2011) in the current time, business firms are using social media network as communication and marketing strategy in order to attract, communicate and sell the product/services to their customers. In addition to this, social media is also helping the companies to attain their long term goals and reducing various costs and expenses. On the other hand, it is also analyzed that, with the effective use of social media network, today’s companies and business firms are able to fulfill their long term objectives, and improve productivity, marketability and market share at the reduced costs. In addition to this, it is also accessed that, through the social media companies are not only promoting their products but also selling the products in high volume (Fogel & Nehmad, 2009).

In addition to this, Barefoot & Szabo (2009) defined that,  with the effective use of such websites or networks, today’s business firms are also understanding, analyzing and accessing the needs, wants and perception of end consumers. For instance, business firms are getting the feedbacks about the products and services and designing new products according to consumers needs (Sashi, 2012). This method is allowing the company to improve its profit and productivity in the market effectively. Along with this, it is also analyzed that, companies are also improving their brand image and organizational reputation through the use of social media networks (Darrow & Ferrera, 2007).

Moreover, Close (2012) analyzed that, Social Interaction cost cutting, improvements in the customer services, targeting to target market etc are the key advantages that are gained by the business firms with the help of social media networks. But, the use of social media is also has various disadvantages. For example, today’s business firms are facing the issues related to Trust, Privacy and Security Issues due to the use of social media. Moreover, Negative Feedbacks, Time intensive, and more efforts are the key disadvantages of using social media. Overall, it can be said that, social media network has its own advantages and disadvantages. So, before using social media network, business firms should considers its positive and negative aspects for the total success (Albarran, 2013).

Project Scope

Primary Question:

 This main and primary research question of the study is listed as below:

• What are the major benefits/advantages and disadvantages of using social media networking website

Secondary Questions:

The following sub-questions or secondary research questions are addressed such as:

• How social media helps the business firms in improving the communications with the customers and reducing various marketing and other costs?
• How social media plays key and fundamental role in improving the customer services?
• What are the major roles of social media in developing and creating strong relationships with the key customers?
• What types of issues or challenges associated with the social media networking are faced by the business firms? (Kim & Ko, 2012).
• How social media networking affect the overall success and growth of the business firms?

Qualitative Research:

Process of the Qualitative Research: The main steps in the qualitative research are: general research questions, selecting relevant subject, collecting related data, interpreting data, conceptualization, and findings (Maxfield, & Babbie, 2011).

Approaches to Reliability and Validity: Research paradigm and triangulation are the two fundamental approaches used by the researcher in the Qualitative research to maintain the reliability and validity of data.  

Sampling & Sample Size: Generally, in Qualitative research the research use non-probability Samples and sampling techniques (McNabb, 2010).

Data Collection Method: There are several method are used to collect the qualitative data such as observations, textual or visual analysis etc.

Variables Specifications: In the qualitative research, the researcher specifies a purpose and research questions in order for the variable specification.  

Quantitative Research

Quantitative Research Design Process: This process is start with theory, hypothesis, research design, device measure concepts, selecting research respondent, data collection & presentation, analysis and interpretation, conclusion.

Research Instrument: Questionnaire and test are the two most common and useful research instruments in Quantitative Research (Birkhofer, 2011).

Quantitative Data Analysis Process: This process start with the problem recognition, reviewing past findings, modelling, data collations, data analysis, and presentation of results and action.

Sampling and Simple Size: Simple random sampling, Systematic sampling, Stratified sampling, Cluster sampling, multi-stage sampling etc are the major sampling techniques used in quantitative research to select the sample (McNabb, 2010).

Interviewing and Questionary Design: A structured interview is conducted in the qquantitative research. Moreover, a researcher use standardized questionnaires approach for the questionary Design.

Approaches to Reliability and Validity: Pilot testing and statistical analysis approaches are used by the researcher to Reliability and Validity (Maxfield, & Babbie, 2011). 

There are various limitations associated with this research proposal. For example, this research study is conducted in a very short time period. It is because a research is requires depth information and meaningful data and collecting such huge amount of data, a researcher is requires lot of time. So, this research indicates it is done very fast so it may affect the results and outcomes of the study. In addition to this, in collecting the data and information, various ethical and legal issues are faced by the researcher. On the other hand, it is also important to know that, in order to conduct this study, the researcher had used only secondary method by ignoring primary method of data collection. For example, this study is based on the past published reports on the topic advantages/disadvantages of social media networking (Miller, Strang, & Miller, 2010).

The proper description of a project plan is essential aspects of successfully complete the project.  A project plan is included the all activities of the project with mentioned the milestones and time schedule will be considered to systematically attain the objectives of research study (Collins, 2010). In this study, a project plan is created a Gantt chart and mentioned the milestones of the research study. The below section explains the project plan of this study:

Literature Review

Gantt chart present in the form of horizontal bar chart that is shown all activities in the flow of processes and time consumptions needed to complete the study.  The below horizontal bar chart presented a Gantt chart of this study/project:

Weeks	1	2	3	4	5	6	7	8	9	10	11	12	13	14
Meeting with Tutor
Proposal Submission
Introduction
Literature review
Research methods & Questionnaire formation
Survey questionnaire conduct
Data analysis & interpretation
Project Review
Project finalization/conclusion
Project Submission

Milestones:

Gantt chart is presented the main milestone/mileposts of this research study that provided direction of the researcher regarding the way of conduct the study. This research related milestones are:

Weak 2: Submit research proposal

Week 4: Introduction

Week 7: Literature Review

Week 8: Research Methodology & Questionnaire formation

Weak 10: Survey Questionnaire Conduct (Collins, 2010)

Week 11: Data Analysis & Interpretation

Week 13: Project Finalization/Conclusion 

Week 14: Project Submission

Conclusion

On the basis of above analysis, it is concluded that, in the current time of globalization and digital era, a number of business firms and companies are utilizing various social media sites in order to improve productivity and reputation. Moreover, with the use of social media, firms could attain competitive advantages and reduce several marketing costs. It is also concluded that, social media sites are also generating various issues and challenges in the front of business firms. Overall, the social media networking have optimistic and unenthusiastic crash in success and growth of business firms.  

References

Albarran, A.B. (2013). The Social Media Industries. NY: Routledge.

Al-Deen, H.S.N. and Hendricks, J.A. (2011). Social Media: Usage and Impact. USA: Lexington Books.

Barefoot, D. and Szabo, J.L. (2009). Friends With Benefits: A Social Media Marketing Handbook. USA: No Starch Press.

Birkhofer, H. (2011). The Future of Design Methodology. Springer.

Castronovo, C., and Huang, L. (2012). Social media in an alternative marketing communication model. Journal of Marketing Development and Competitiveness, 6(1), pp.117.

Close, A.G.G. (2012). Online Consumer Behavior: Theory and Research in Social Media, Advertising and E-tail. USA: Routledge.

Collins, H. (2010). Creative Research: The Theory and Practice of Research for the Creative Industries. AVA Publishing.

Darrow, J.J. and Ferrera, G.R. (2007). Social Networking Web Sites and the DMCA: A Safe Harbor from Copyright Infringement Liability or the Perfect Storm?. Northwestern Journal of Technology and Intellectual Property, 6(1), pp.1-37.

Fogel, J. and Nehmad, E. (2009). Internet social network communities: Risk taking, trust, and privacy concerns. Computers in Human Behavior, 25, pp. 153–160.

Jamison, R. and Jamison, K. S. (2011). Social Media Geek-to-Geek: Practical Insights for Technology Marketers. USA: Happy About.

Jue, A. L., Marr, J. A. and Kassotakis, M. E. (2009). Social Media at Work: How Networking Tools Propel Organizational Performance. USA: John Wiley & Sons.

Kim, A. J., and Ko, E. (2012). Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand. Journal of Business Research, 65(10), pp.1480 1486.

Maxfield, M.G. and Babbie, E.R (2011). Basics of Research Methods for Criminal Justice and Criminology (3^rd ed.). USA: Cengage Learning.

McNabb, D.E. (2010). Research Methods for Political Science: Quantitative and Qualitative Approaches (2^nd ed.). USA: M.E. Sharpe.

Miller, P.G., Strang, J. and Miller, P.M. (2010). Addiction Research Methods. USA: John Wiley and Sons.

Sashi, C. M. (2012). Customer engagement, buyer-seller relationships, and social media.

Management decision, 50(2), pp. 253-272.