A systematic arrangement of an organization’s knowledge and data with an objective of generating value and meeting tactical and strategic requirements can be termed as the process of knowledge management (Fernandez & Sabherwal, 2014). This process comprises of initiatives, systems, mechanisms and strategies that are adopted by the business entity for enhancing and sustaining the storage assessment, refining, and sharing of the knowledge. The below-presented essay is focused on the concept of how social media can be used by Sony Corporation in Singapore for improving knowledge sharing, build social capital, support innovation and aid problem-solving.
Nowadays social media has become a very important part of everyone’s life, social media platforms provide brilliant opportunities and benefits everywhere, let it be daily life or business. In business, the role of social platforms like Facebook, Twitter, and LinkedIn is very important whether it’s about promotions, sharing thoughts or knowledge, building the social capital or solving the problems innovatively or creatively (North & Kumta, 2018). Social media aid in expanding the business or benefitting the organization by increasing its potential and capabilities but in order to achieve this level of performance with the help of social media platforms, then one requires a complete integration of social media with the business and it should be managed carefully. Social media are in a way blessing for every business organization let it be small or big because social media platforms are the key channel in order to communicate with anyone, anywhere or collaborate with anyone and this feature of social media has relieved. So many multinational corporations since it has provided them with a competitive edge and high value the MNC’s are required to invest in social media and this is to be done in order to increase or obtain the desired value.
Investing in social media has its own benefit that would be advantageous for any organization. For instance, helping with the promotion of brand and brand awareness, improving the legitimacy of the company while doing business, or while working, creating a better communication channel for both the parties. Such as the seller and the buyer, helping the company by creating it’s better image and reputation in front of the target audience and last but not the least, improving the business growth and market expansion. With all these benefits, the social media is a key element in order to achieve success in the market and among other marketers. Since it helps the organization to realize its real potential and therefore using it in the growth of the business will be advantageous, but again some of the organizations are unsure about using the social platform correctly and which techniques to apply in order for them to be effective and also to be strong and unique. Moreover, to which the target audience can easily relate and can get engaged eventually and the proper enforcement of all the strategies will help the company to get more profit and therefore business growth.
Social media is a great platform for multinational corporations as this organization deal with the number of countries and while operating there, social media will offer the MNC’s with the varied range of brilliant platform. Through these platforms, they can easily develop connections with the locality and the targeted audience from different locations and thus easing the ways of communication and sharing of knowledge among them in a positive way and therefore working best from its contemporaries (Xiang & Gretzel, 2010). Although it is very hard to solve and address all the conflicts on such a large rate the social media platform has made it very easy. It saves the business from losing its customers since every problem or queries get resolved with an ease. Social media is helping them to get to know their services in a better way and a chance to improve it. Another advantage of social media for MNC’s is that it saves them from the unnecessary expenditure on the communication channels that charges a lot to convey a message. The online platform provides so many channels which are completely free of cost for the message delivery, therefore, no one has to worry about any cost for conveying the message and its efficiency (Dubos, 2017).
Improving the brand’s reputation and loyalty by advertising the product over social media platform and presenting it with the true objectives and promises will be considered as another benefit that will be attained by making use of social media (Ray et al., 2011). It gives the chance to a company to bring communication to a completely whole new level because the majority of the people prefer social media platform over any other. It can be achieved by creating a webpage or group on Facebook or Twitter or any other online platform and will reduce a lot of budgets that was supposed to be spent on the advertising which is a very important task according to company’s point of view. The brand campaigning and advertising will attract a large crowd and make the appeal to masses eventually creating an effective brand awareness and attracting a large target audience because it allows the consumer to read and see exactly what the company is selling and what it’s true objectives are. And by doing so the company will seem more active to the consumer and more and more customers would take interest in the company and with a large crowd comes a great increase in the sales will be noted (Lins, Servaes & Tamayo, 2017). Along with this it also provides the competitive advantage to the former company making their brand more attractive than all other competitors in the market. It gives the brand a chance to get engaged with a broad audience that has been targeted by the company for promoting its product. Along with being cost-efficient, the online platform is also giving a chance to the traders to increase their brand visibility and recognition of a brand. With building a reputation for the brand the business is using social media platform will also increase brand awareness and business exposure to a great extent and therefore generating a large and huge target audience or other audience which will lead to an increase in inbound traffic. This means that the brand advertising will not only remain limited to the usual customers but others outside the circle too and with the increased brand visibility, more and more opportunities will arise for the business increasing traffic (Kaplan & Haenlein, 2010). And in order for the brand to get humanized, it becomes necessary for the brand to communicate with more audience and create a positive impression throughout the conversation. And according to a study, when a brand is more active socially and online, it allows the consumers to build a trust upon that brand and the credibility of the brand’s business.
Another great advantage attained by Sony Corporation due to making use of social media is that it gives more insight related to the marketplace. It allows the organization to directly communicate with their customers and get to know about their likes and dislikes and the way they think and even their requirements and all this happens just by monitoring their activities on the company’s webpage or profile (Hill & Moran, 2011). Using social media for observing the customer’s behavior and then getting all the required information will aid in understanding them better and organizing the content than in such a way, which will obtain the major impressions and attention. And by posting in an organized way it will give another advantage of becoming a leader in this particular field. Establishing the brand as a leader will need a good knowledge of online tools, more communication, and attention, sharing good quality content and more presence. All these factors will aid in highlighting the brand and more and more followers will look up to it and it will end up in creating a strong bond between brand and the customers and allow the brand to leave a great impact on its audience (Kwon & Adler, 2014).
Social media plays a very important role in building the business and social capital of Sony Corporation and helped it by solving so many issues in a creative and innovative way and thus expanding the business and business growth and creating a large target audience therefore making it one of the best business organization in the electronic field in Singapore. Social media has been a blessing for Sony Corporation since it allowed the organization to increase its brand’s awareness among a large crowd (Hafele, 2011). Social media platform helped the company to syndicate the content and expanding the business therefore by attracting more customers. After creating a page on social media the company can get connected with its usual customers or audience but it is the social media what makes the inbound traffic more in number and size by syndicating the content posted on brand’s page and then allowing the individuals to reach to brand’s page organically. It will allow the company to open their business and brand to a wide audience and who are located all over the world (Hassan, Nevo & Wade, 2015).
Sony Corporation is offering the best and attractive products and services for the customers in order to achieve high ranking and to secure a top position in the search engines. Therefore, more people would like to see the content since it is in the topmost position and this will be proven beneficial for the business corporation. This will increase the sales and automatically the productivity of the company (Houston et al., 2015). All the high-quality content gives the opportunity to the company to build their social media group or community by making its content credible and attractive. And with the intriguing content more and more people will like the material and share it thus it will also increase the company’s popularity among other people too and make the brand more visible to people. With an increase in the brand’s visibility and popularity, the business will gain more chances to expand and communicate with more people. The online marketing will increase traffic with every type of content, let it be photo, video or post and with each view and be sharing it will get the company more audience and leave a positive impression (Bharati, Zhang & Chaudhury, 2015). This all will increase the chance of humanization of the brand and all these efforts to build a strong relationship with the consumers will show the positive result at the end (Sigala & Chalkiti, 2015). Online platforms allow the Sony Corporation to get connected to its customers and to provide them with a great satisfaction and therefore humanizing the company and that is why the company is required to always reply to their customers about their any kind of complaints, queries or questions and social media allows the one to do so and that too easily and efficiently in a better way and it will show the customers that how attentive the company is towards their consumers since customers are the building block of any organization so it is very necessary to satisfy them with better services (Girard & Girard, 2015).
Another goal of the company is developing loyalty among customers and this can be initiated by communicating with the customers on a daily basis. This can be done by means of emails or phone calls, the company will assure the customers that the company is interested in them and will create a strong bond and social media plays a very important role in achieving this state and it makes easier for the customers to rely on the brand and their customer services in total (Ngai, Moon, Lam, Chin & Tao, 2015).
Conclusion
After summing up the above-executed analysis it is inferred that social media plays an empirical role in an organizational structure. The above-presented essay is focused on the concept of how social media can be used by Sony Corporation in Singapore for improving various aspects of the business environment such as for improving knowledge sharing establishing social capital, support innovation and problem-solving.
References
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