Importance Of Social Media Networking In Business And Their Advantages And Disadvantages

Project Objective

What Is The Importance Of The Social Media Networking In The Business And Their Income?

What Are The Compensation And Drawback Of The Social Media Networking?

What Things Need To Be Analysed Or Observed While Selecting The Social Media Networking Platforms For The Business?

Social network has become an important tool for the growth of the business. It is the research which has been conducted on the topic of “Advantages and disadvantages of using social networks in business.” Various aspects have been elaborated regarding the uses of social media in the business. Literature review will be provided in this research to emphasize the aspects of social media networking in the business. For collecting the reliable and quality data, numerous methods and techniques will be used in this research. The research process will be made so as to conduct the implementation of the research program in a valuable manner

The key objective of this research is to analyse the impact of social media on the business. Various advantages and disadvantages are determined in applying of social media platforms for business. Information regarding those aspects will be covered with the help of journal articles, books and over the internet.

Social networking platform has several advantages and disadvantages which influence to the business favourably and adversely. It is the program of research which has been conducted to evaluate the scope of social media networking in the growth of the business.

Social networking is those platforms on which several businesses establish a social relationship with large number of people. Social media networking is a platform which allows a large number of people to get mingled with business and it becomes easy for people to get knowledge about the product and the status of the company. There are several companies which are using the social media networking sites to enhance the business progressively. The influence of social media networking has on business communication as well as business ethics (Sachs, 2016). In the context of advantages of social media networking in business that it build the number of operations for growth and create the view and opinions of people in efficient manner (Brogan, 2010). It has been evaluated that social media networking has the ability to reduce the cost of the un-necessary expenses and develop a great bonding with large number of people. It is being used in the business in the form of promotion tool which has provided a competitive advantage to the business (Evans, 2008). On the other hand there are some negative aspects as well of social media networking which build the adverse influence on the business. The weak point of social media networking is that it is open and anyone can comment in an open manner in which the chances of bad comments on the page of business are high. It reduces the reputation of the business in the view of potential customers (Diamond, 2008).

Project Scope

Social networking platforms are considered by several businesses because it enhances the satisfaction level of the customer along with increasing the loyalty among the customers. It has been studied that social media has the feature of accessibility, permanence and usability (Greer, Lusch and Vargo, 2016). Accessibility refers that there is no cost to access over the social media. Usability describes that anyone who do not have specialization degree and lack of skills can run the business over the social media networking (Evans, 2011). On the other hand it has been evaluated that in traditional training and media protection are necessary for run the business. Social media networking is an efficient tool which is being used to spread the information without taking so much time. In the term of marketing, social media plays a vital role in their products and services. The role of social media in the company to reduce the issues of the consumer instantly because it is the medium which provide the facility of the feedback and as per the feedback of the consumer, company can be able to improve the possible changes to make them satisfied (Hensel and Deis, 2010). It enhances the productivity of the employees and reduces the employee for the call centre. Therefore, from the study over the research, it has been observed that social networking is favorably interconnected with the customers.

• Social network is able to work as market tool which enhance the demand of the products among the customers.
• Social networking can have the negative impact over the business which may lead the business in adverse situation.

Research methodologies are the collection of several techniques and methods which is being used in then research program to gather definite requirements and information. There are various sources and methods have been used to implement the research.

There are number of research method for developing the research. To execute the research, qualitative as well as quantitative data is being used. Qualitative data refers the collection of data which is taken in use to improve the quality and reflect the pros and cons of social media networking in the business (Oyza & Edwin, 2015). Qualitative method is can be enlightened as an approach for gathering the quality data which helps in sustaining the quality of the research.

The approaches of qualitative and quantitative data have been used in the research program. Primary and secondary sources are being used to collect the quality data from the journal, articles, websites, boos and over the internet. These sources have helped to build the knowledge of the aspects regarding the research topic.

Primary and secondary sources have been used to collect the data. The main aim behind collecting the data is to develop the better understanding of the aspects of the research. These are the sources which provide the current information regarding the research topic.

Literature Review

Random sampling technique is chosen for analysing the research topic. Random sampling technique is an efficient technique which gives chance to every sample which is selected for the analysis the topic (Lee & Chen, 2011). This evaluated information has been formed as per the conclusion.

It is vital for the success of research topic to analyse the collected data in an appropriate manner. A systematic approach has been used to analyse the research topic and handle the implementation of the research in sequence manner (Kelley, 2013). An action plan has been made to recognize the several activities regarding research program on sequence basis.

The primary and secondary sources have been utilized to gather the information from the targeted market. To gather the information from primary data, questionnaire ad interview has been conducted for those who using social networks. Secondary sources have been collected from the internet.

The main focus of this research is to collect the data in a fair manner with keeping ethical consideration, maintaining the secrecy and carrying out research in an unbiased manner.

During the implementation of the research some limitations have been found in the process of execution of the research program. These limitations are explained below:

• The time of research is too short for which random sampling techniques have to be taken in use for analysing the research program.
• The access over the internet is lesser which impacted the execution process of the research.
• Different resources are required for the implementation of the research program and in-sufficient availability influence the quality of the research

Serial no.	Activities	Starting date	Duration (days)	Completion date	Description
1.	Selection of topic	10 September 2017	2	12 September 2017	Choice of topic will be done
2.	Structure of plant	13 September 2017	5	17 September 2017	Plans will be building to implement the research
3.	Implementation of the research program	18 September 2017	7	24 September 2017	Plans will be implemented
4.	Data collection	25 September 2017	4	28 September 2017	Methods of data collection will be chosen.
5.	Interpretation of data	29 September 2017	4	2 October 2017	Results will be drawn.
6.	Conclusion and recommendations	3 October 2017	3	5 October 2017	Conclusion and recommendations has been made as per analysing the data.

Conclusion

It has been concluded that the social networking platforms are essential marketing tool for developing the growth of the business. Several aspects has been mentioned or discussed in this research which reflected the positive as well as negative influence of social media on the business. To gather the information of research topic various data and resources are being used so that the proper understanding research can be made.  The main focus of this research is to collect a quality data for increasing the reliability and authenticity of the program of research.

References

Brogan, C. 2010, “Social Media 101: Tactics and Tips to develop your business online”, Wiley Publishing Inc., New Jersey, United States.

Diamond, S, 2008, “Web Marketing for Small Businesses: 7 Steps to Explosive Business Growth”. Sourcebooks Inc., Illinois.

Evans, D, 2008, “Social Media Marketing: An Hour a Day”. Wiley Publishing Inc., Indiana, United States.

Evans, L.L, 2011, “ Social Media Marketing: Strategies for Engaging in Facebook, Twitter and Other Social Media. QUE Publishing, Indiana, United States.

 Greer, C.R., Lusch, R.F. and Vargo, S.L., 2016, “A service perspective”. Organizational Dynamics, 1(45), pp.28-38.

Hensel, K. and Deis, M.H., 2010, “Using social media to increase advertising and improve economics”. The Entrepreneurial Executive, 15, p.87.

Kelley, M., 2013, “The Top 10 Corporate Social Media Disasters”, Business Insider India.

Lee, S. & Chen, M., 2011, “An integrative research framework for the online social network service”, Service Business, 5(3), pp.259–276.

Neti, S., 2011, “Social Media and its Role in Marketing”, International Journal of Enterprise Computing and Business system. Vol. 1, Issue 2.

Oyza, I. & Edwin, A. M., 2015, “Effectiveness of Social Media Networks as a Strategic Tool for Organizational Marketing Management”, Journal of Internet Banking and Commerce.

Sachs, J., 2016, “The 7 Best Social Media Channels for Business Marketing”, The Huffington Post.