Social Networks in Business-Free-Samples -Myassignmenthelp.com

Question: Discuss about the Advantages and disadvantages of using social networks in Business. Answer: Introduction This research project has been conducted on the topic Advantages and disadvantages of using social networks in business in which different aspects related to social network and its impact on business has been discussed. Businesses are using social networking for enhancing their performance and interacting with the customers in a better manner. Summary of the literature review will be provided for highlighting the key aspects discussed. Different methods and techniques will be discussed in this research program which will be used for the collection of quality and reliable data. The research process will be prepared so as to guide the execution of the research program in an effective manner. Figure 1: Social networking Source: (Advisor, 2017) Project objective Every activity is carried out with a motive which must be achieved from the execution of the activity. Different advantages and disadvantages are associated with the use of social networking platforms for business. These aspects will be covered under this research program. Information will be gathered with the help of different articles and journals available over the internet. Information collected will form the basis for the reliability of this research Project scope Use of social network is increasing due to which companies are getting attracted towards these platforms. This research program will discuss the various advantages and disadvantages of using the social network for business. Role of social networks and advantages and disadvantages of using these platforms will be discussed under this research. The comparison will be made between the positive and negative impacts of social networking platforms for analyzing the impact of the social network on business Literature review Social networks are those platforms which are being used for interacting with a large number of people and establishing a social relationship with them. There has been a rise in the number of companies using the social network for enhancing the performance of the business. The social network is playing a vital role in shaping the performance of the business. Need for increasing interaction between the customers and business is increasing due to various reasons (Shafigullina Palyakin, 2016). These reasons include an increase in the competition, change in the expectations and demand of the customers, increasing need of using innovative marketing strategies, attracting a large number of people towards the products or services offered by the business and establishing a healthy relationship with the customers or potential customers of the business. Different views have been presented by different authors for the use of the social network for business (Fita, 2012). In the words of Vahl (2014), use of social networking has enhanced the effectiveness of business. Social networking platforms have the power to connect with a large number of people as well as reduces the cost involved in the marketing function of the business. The communication process between the business and customers or potential customers also increases with the use of social networking platforms. Social networking platforms are being used as a promotional tool which has provided a competitive advantage to the business. On the other hand, Oyza Edwin (2015), there are few negative aspects of social network which are creating an adverse impact on the performance of the business. The social network may negatively affect the reputation of the business as a social network are open and people are free to comment on the information shared by the business. Communication is an important aspect and business is focusing on enhancing the communication with the customers of the business. Social networking platforms provide an opportunity to the business for promoting the products or services with making fewer efforts in less time. Social networking platforms are also being considered by the businesses as these have enhanced the satisfaction level among the customers and helps in developing loyalty among the customers. It has resulted in the enhanced customer base of the business. Changes are taking place in the business environment and social network has helped in promoting the business and coping with the increasing competition due to the dynamic business environment (Si, 2016). On the contrary, Traditional methods are also used by business for the promotion of the products or services of the business. Traditional methods help in communicating with the different sections of the society who are not using social networking platforms (Siricha roen, 2012). Research questions and hypotheses Research questions Research questions for this research program are listed below: What is the role of social networking for businesses in this dynamic business environment? What are the advantages and disadvantages of using social networking to business? What aspects need to be considered while selecting social networking platforms as a marketing tool for business? Hypotheses The social network has changed the manner in which marketing functions of the business were carried out. Social networking has affected the reputation of the business adversely. Research Design and Methodology Research methodologies are the sum of different methods or techniques which a researcher applies for gathering the required information from the different sources available. For the execution of this research program, different methods have been put to use. These methods or techniques are discussed below: Research methods: There are various research methods available which can be used for collecting information for the research depending on the requirement of the research. For the collection of the data for this research, the qualitative method has been adopted for the collection of the data related to the research topic (Smith, 2015). Qualitative method has been applied for collecting information related to the advantages and disadvantages of social network for business. Qualitative method can be explained as an approach used for collecting quality data which helps in maintaining the quality of the research (Quick Hall, 2015). Research approaches: qualitative and quantitative approaches have been selected for the collection of data related to the research topic. The qualitative approach helps in collecting the data by developing knowledge of the reasons, opinions, and aspects which are hidden behind the topic of the research (Crossman, 2017). Primary and secondary sources have been used in this research program for collecting quality information related to the research topic. Information has been collected from the articles, journals and research work of other authors available over the internet. These sources have helped in maintaining the quality of the research and developing knowledge of the aspects related to research topic (Nirmala, 2013). Data collection: Data collection is done with a motive to collect relevant information for the research so as to execute the program in a better manner. For collecting data related to this research program, primary and secondary sources of data collection have been used. The motive behind a collection of a combination of these sources is to develop a proper understanding of the aspects of the research topic. Primary sources are those raw form of information which is collected by the researcher directly from the respondent. This source of data collection provides current information (Thomas, 2015). The questionnaire has been prepared and it will be presented to the employees of organizations which are using social networking platforms. The interview will be conducted by the employees of the management department of the companies using social networking as a marketing tool. Secondary sources are used as these sources are more reliable than primary sources (Turkenburg McAuley, 2013). T his reliability is due to the reason that secondary source of data is already collected and used by others for their works. This aspect enhances the reliability and authenticity of the data. Journals, articles and other internet sources have been used for collecting secondary source of data (Johnston, 2014). Sampling size and Techniques: data gets collected in large quantity and analysis of this large quantity data in limited time span acts as a challenge. For coping with this challenge, random sampling technique has been selected for the analysis of the collected data. Random sampling technique is an effective technique which provides equal opportunity to every sample of the population of getting selected and analysis is done on the selected samples. This analyzed information forms basis for the conclusion (Nishad Sankar, 2016). Research Strategy: Research program need to be completed well on time for ensuring the effectiveness of the program. For the attainment of this goal, it is vital to conduct the research properly. A systematic approach has been selected for this research will have helped in the execution of every activity of the research in a sequence. This has resulted into covering every aspect without skipping out any important activity. An action plan has been prepared for the identification of the different activities of the research. Targeted market: Targets need to be set from where information related to the research is to be collected. This helps in identification of the sources from where information has to be collected. A combination of primary and secondary sources has been used for this research. For the collection of primary data, the questionnaire will be presented to the employees of the marketing department of companies using social networks and interviews will be conducted. Secondary sources have been collected from the internet and for ensuring the reliability articles, journals and other sources are used which are published after 2008. Choice: Different alternatives are available which can be used for completion of the research program. The selection has been made after analyzing the need or requirement of the research program. Ethical consideration: ethics helps in bifurcating the right and wrong. During the execution of this research program, ethical values and principles have been followed. This is done for ensuring the conduct of the research program within the ethical framework. The focus of this research is on collecting data in a fair manner, presenting the data in a fair manner, maintaining confidentiality and conducting research in an unbiased manner. Research Limitation During the execution of this research program, few issues have acted as a limitation and affected the execution process of the research program. These limitations are mentioned below: The short span of time was available for the execution of this research program. Due to this limited availability of time, random sampling technique has been applied for the analysis of the collected data. Lack of access to the data has also affected the execution process of the research. Lack of resources has also acted as a limitation. Different resources are required for the execution of a research program and non-availability or insufficient availability affects the quality of the research. For maintaining the quality of the research, quality sources have been used. Time Schedule Serial no. Activities Initiation date Duration (days) Completion date Description 1) Selecting research topic 30 August 2017 2 31 August 2017 Selection of the topic will be done 2) Constructing plans for the research 01 September 2017 5 05 September 2017 Plans will be constructed for conducting the research 3) Execution of the constructed plans 06 September 2017 9 14 September 2017 Plans will be executed as per the planning phase. 4) Selection of data collection methods 15 September 2017 3 17 September 2017 Method for data collection will be selected for the execution of research in an effective manner. 5) Collecting data using selected method 18 September 2017 6 23 September 2017 Data will be collected with the help of selected methods. 6) Analysing gathered data 24 September 2017 3 26 September 2017 Data will be analyzed with the help of sampling data. 7) Interpretation of results 27 September 2017 2 28 September 2017 Results will be drawn from the analyzed information. 8) Drawing conclusion and providing recommendations 29 September 2017 1 29 September 2017 The conclusion will be made on the basis of the analyzed and interpreted data and recommendations will be made for future research. Gantt chart Conclusion Thus, it can be summarised from the above discussion that social networking is gaining much importance in this dynamic business environment. Its importance is rising due to a variety of reasons. Different aspects have been discussed in this report which is creating positive as well as negative impact on the performance of the business. This research program has developed an understanding of the different advantages and disadvantages of social media. For the collection of data related to the research topic, different methods and techniques have been put to use. The focus of the research is on a collection of quality data for enhancing the reliability and authenticity of the research program. References Advisor, 2017, How Social Media and Business Communication Can Increase UCC ROI, Advisor. Crossman, A., 2017, An Overview of Qualitative Research Methods, ThoughtCo. Fita, M., 2012, 6 Reasons Why Social Networking is So Popular These Days, Brandiginity. Johnston, M. P., 2014, Secondary Data Analysis: A Method of which the Time Has Come, Qualitative and Quantitative Methods in Libraries, pp. 619 626. Nirmala, Y., 2013, Chapter four: research design, Language in India, vol. 13, no. 2, pp. 102. Nishad, P.M. Sankar, S., 2016, Efficient random sampling statistical method to improve big data compression ratio and pattern matching techniques for compressed data, International Journal of Computer Science and Information Security, vol. 14, no. 6, pp. 179. 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. Quick, J. Hall, S., 2015, Part three: The quantitative approach, Journal of perioperative practice, vol. 25, no. 10, pp. 192 Shafigullina, A. Palyakin, R., 2016, Social Media Marketing as an Effective Instrument of the Promotion of Social Business-Project in Social Entrepreneurial Activity,Academy of Marketing Studies Journal, 20, pp.17. Si, S., 2016, Social Media and Its Role in Marketing, Business and Economics Journal. Siricharoen, W. V., 2012, Social Media, How does it Work for Business?, International Journal of Innovation, Management and Technology, Vol. 3, No. 4. Smith, N.L., 2015, Using Action Design Research to Research and Develop Evaluation Practice, New Directions for Evaluation, vol. 2015, no. 148, pp. 57-72. Thomas, J. A., 2015, Using unstructured diaries for primary data collection, Nurse researcher, vol. 22, no. 5, pp. 25. Turkenburg, J. P. McAuley, K. E., 2013, Data collection and processing, Acta Crystallographica Section D, vol. 69, no. 7, pp. 1193-1194. Vahl, A., 2014, 10 Successful Facebook Marketing Examples, Social Media Examiner.