Social media is a platform that is used by people for interacting with each other across the world. The websites like Facebook, Twitter and LinkedIn are created for raising visibility and awareness which are used for networking and sharing knowledge and information. These are used by managers for promoting sharing of knowledge and team building. Social media sites help businesses for enhancing image and help customers to know about business. Social media in business helps in promoting products and services and customers prefer to check feedback about the business on social media. In Social media, advertising and promoting the business is more convenient and cheaper than the other ways of promotion. Social media is used by Multinational corporations for improving knowledge sharing, build social capital, support innovation aid in solving problem in multinational corporations (Sisko Maarit Lipiäinen, et al., 2014).
Social capital includes the people relation which is used for living and working in the society which helps the society in functioning effectively. Employees in business are considered as the biggest assets which are included as social capital which the organization can offer to employees. Social media helps in changing the way of communicating with people and sharing information with each other. Social media impacts the sharing of knowledge and information with employees of the companies. Social media sites are used in business which allows individuals in sharing interests and establishing and maintaining relationship with each other. in organizations, people are considered as intangible assets. It is used by organization for sharing knowledge among employees for the competitive advantages in the market. It helps people in connecting with each other easily and also employees are able to bring valuable information for the organization (Andersson, et al., 2002). It is necessary for the organization the maintaining and managing of social capital. Social media sites like Twitter, Facebook and LinkedIn provide the positive aspects are the customizability of the purposes and goals of the organizations. In this case, the three dimensions are included which are structural, relational and cognitive.
Social media helps in creating and sharing knowledge which occurs when the information, skills, and expertise happens between the people. The activities of sharing information and knowledge are supported by the knowledge systems. Technology is often a limitation and hinders the ability of employees to share knowledge with companies. In order to encourage sharing of information in employees, management and organization are required to emphasize values like innovations and discovery. In this platform, not only the top-down approach is required to be followed but the bottom-up approach of getting the feedback is effective for communication (Oh and Syn, 2015).
It helps the management in getting the whole information about the daily operation and requirement of improvement in the planning of business processes. It is analyzed that the conventional sites are different from social media sites as it helps in creating own content by creating, share, tagging and organize the data and information (Lee, 2010).
Social media is used as a tool for innovation and research. It is necessary for the organization to adopt and bring innovation in business which helps employees in communicating effectively and conveniently and can exchange ideas freely. Social media helps in fulfilling these requirements as it can be operated in real-time as well as can communicate virtually instantly. In an organization, the research and development and marketing department use social media for promoting brand and products as it is a cheaper as well as time-efficient method for promoting (Schaupp and Bélanger, 2013).
Social media websites help in improving knowledge sharing as it helps employees in sharing knowledge and information. Organizations adopt practices of social media as it helps in encouraging employees in sharing necessary information and knowledge and can access intellectual capital. In organizations, social media practices are followed for employees’ communication and also employees are rewarded at the workplace. Various organizations adopt the option and system of rewarding employees for encouraging the employees to share information and knowledge with each other. When the information and knowledge are shared between employees within an organization or outside of organization, it helps the employees in generating more innovative ideas that help in enriching the organization. With the help of social media sites, the company is able to gain competitive advantages and can face the competitors in the market. If company is able to generate more innovative ideas and are aware of the competitors by gathering the knowledge online who help the company in improving their performance as compare to competitors. If company is able to generate ideas and knowledge about competitors, it helps the organization in achieving the goals of the business. In an organization, employees who are more interactive are encouraged to use social media for promoting business and share information. Nowadays, companies prefer to develop their pages and aware customers about the products and business through online sites as people are more updated on social media sites. It helps in attracting more customers and facilitates the customers to follow them on websites as the users can share the valuable information and can provide feedback about the product for the benefit of company. It helps in encouraging people to communicate with people effectively and get the views and ideas of people for providing and customizing the products according to the needs of the customers. The interaction on social media helps the teams in making the platform to discuss the matters.
The internal channel of communication can be created with the help of social media in the organization. It helps in building a communication channel with the employees and organization. The information and knowledge can be transferred in the different business units at different locations and countries where the business is operating. The various problems can be solved with the help of effective communication in organization. Healthy communication can be created in employees with the help of business communication. The employees can share the valuable feedbacks and issues which they are facing. Social media is also effective for communication with the external parties of the organization.
It is analyzed that social media support innovation in various ways in the organization. It helps in bringing innovation in business so that the company can constantly innovate the ideas. In the innovation process of business, the flow of new ideas will be included. With the help of social media, people are able to improve business ideas for taking advantage of business (Evans, et al., 2014).
Social media is also a platform that is used for discussing innovative ideas with people across the world as it helps in generating new and valuable ideas. No additional costs are required at the platform of social media to have a discussion regarding ideas and organizations are able to generate ideas without increasing any cost of the business. in the changing market scenarios, employees of the organization are required to keep the updated information to see the threats and alert the situation in business. Employees are required to be innovative for providing the benefits to organization and personal growth (Leonardi, 2014).
Every organization faces different types of problems and organizations can solve the problems with effective use of social media as some problems can be solved which are related to the services. Social media is a platform for communication and problems related to communication can be solved easily. Social media includes the various attributes which are interrelated and interconnected with each other. The problems are solved with communication and knowledge sharing (Jussil, et al., 2011). It is used as a tool for communication with the employees and external services providers. It helps in solving the problems of employees as well as organizations. Social networking sites like Facebook, LinkedIn, and Twitter are helpful for solving issues and it helps in providing one to one relationships with employees.
Social media is helping to meet the demand for cheap, instant communication between researchers, driven by the growth of collaboration and interdisciplinary research. This is where real breakthroughs take place, helping to make employees part of the global research community. These new tools make research sharing easier and become a more natural part of people’s daily lives. Professional development can be done with the use of twitter. As professionals use twitter to reach social circles and management build the professional learning platform at twitter for communicating (Lange, et al., 2016). Employees get the change on Twitter to share the common interests and following employees and employers for getting the jobs. Twitter is a platform that helps the organization in building professional knowledge and opinions are exchanged (Kane, 2015).
The blogs on social media are used for global marketing as the trends in technical capabilities and features of social media help in bringing marketing channels in organization. The use Social media websites help multinational organizations in providing additional capabilities and benefits when it is effectively integrated and managed properly. Effective networks and social media helps the organization in becoming global communication and enhance collaborations (Schiuma, et al., 2012). With the help of social media, multi-national corporations can improve their image and reputation of the company globally. It also helps in improving brand awareness and legitimacy will also be improved for doing the business. in case of technology investment, various risks are involved with social media as it is necessary to communicate right information to customers and employees and if some wrong information about the organization reaches in market it may bring the brand image down in market (Holsapple, et al., 2014.
In MNC’s, the tool of knowledge management is used or improving knowledge sharing, building social capital, supporting innovation and solving problems.it is used for knowledge creation and transferring theory in MNC’s. There are four ways that are included in providing the knowledge which helps in combining and converting the relevant information. knowledge is shared and created in the organization. It includes socialization, externalization, combination, and Internalization. Socialization in MNC’s is necessary as it is tacit to tacit. The knowledge and information are shared and created by practice, guidance, imitation, and observation.
Externalization is the tacit to explicit which as social media helps in sharing the information which is particularly difficult and important for the conversion mechanism. With the help of externalization, the knowledge which is tacit is converted into documents for spreading the information in the organization. Tacit knowledge is codified in the relevant information as the knowledge conversion mechanism is debatable.
The combination is considered as explicit to explicit as it can be used by the MNC’s as it helps in sharing the information effectively. Codified knowledge sources are the major source in MNC’s for creating new knowledge. Internalization is explicit to tacit knowledge. In MNC’S the sources are used and learned in an effective manner in social media for internalizing the knowledge. SECI model is effective for creating knowledge as it is a continuous process for the dynamic interaction with the explicit and tacit knowledge. Social media is like facebook, twitter is used for knowledge creation. As the level of organization rises, the scale of the spiral grows larger and larger and may lead to a new spiral of knowledge creation.
In MNC’s, peter Senge’s five learning discipline of learning organization includes the systems thinking, personal mastery, mental models, building shared vision, and Team leaning. In order to build a vision, interaction with the employees is required for sharing the knowledge and information. in order to create the shared value which includes for the individual’s vision.
In order to share the knowledge with the support of social media, system thinking is required for analyzing the issues and it helps in reflecting the observational process in a systematic manner. It is necessary for the organization to understand the actions and consequences which are related to each other. It is essential for the managers to focus on the actions. It is stated by peter’s sense that the employees are required to identify the company’s value for sharing knowledge and solving the problems. The organization is required to be flexible for accepting the changes and creating the image of the company in market. the organization is required to learn and adopt the new technologies for becoming faster than the competitors.
Team-learning is important for the organization as it requires a shared vision and personal mastery for achieving the goals. It is necessary for the organization to show the real image of the organization to the world and building social capital. The environment at the workplace must be safe for employees for learning and experiencing.
Personal mastery happens when the organization has a clear vision for achieving the goals and objectives and it requires to be combined with the perception of reality. In order to provide the information to employees about the shared vision and activities which are required to be followed for achieving the vision.
The internal social media of the company includes the oral culture, management support which includes the using of internet social media for effective communication among the employees. Social media is used for marketing as it helps the business in bringing customers towards the business as they are engaged more with social media. It helps in instantly distributing the information which is regarding the promoting because of the latest innovation, products, services and upcoming events (Ioanas and Stoica, 2014).
The risks which are associated with social media are sometimes false information is communicated regarding the company on social media. The competitors may post the wrong information about the company as it is considered negative publicity which cannot be prevented. It requires to fire personnel for detecting this type of risk for preventing the risks. Social media accounts are easily hacked by hackers and they use the account for sharing false information. it includes the risk of breaking the trustworthiness to clients and trust can be lost which may lead to turning off customers. it requires the huge responsibility of providing the right amount of time and efforts to keep the account updated and convey of the right message is required on the social media platform (Trainor, 2014). It is analyzed that the managers consider social media as part of task for the technological infrastructure as it helps in encouraging employees and staff for sharing information and knowledge by managing and promoting the activities in the organization in global level.
Conclusion
In order to conclude the report, social media websites are important for multinational corporations as advanced social media strategies help in providing effective internal as well as external communication. In the case of communication, it plays a vital role in the development of the business by marketing the products and services. In organization, social capital is also enhanced with the support of integrating social media with effective communication channels (Bouquet and Birkinshaw, 2008). It helps in boosting the morale of employees and keeps the organization vision, brand and purpose strong. It is concluded that social media provides various benefits to multinational corporations by creating and improving brand awareness and image of the business in the global market.
References
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