Exploring Advantages And Disadvantages Of Social Media In Business Research

Project Objective

Rapid growth of technology allows people to adopt applications of the technology in business for several reasons like gaining valuable customer insights, increase brand awareness as well as loyalty, run targeted ads with the real-time results and produce higher converting leads.  Use of social network becomes one of the most vital factors to increase business values and gain competitive advantages. However, there are several limitations like security issues, new platform for the staffs of the organizations. Hence, it is required to analyze advantages and disadvantages of using social network in business in order to propos the plan for business that is achieved in the business. In addition, project objective and scopes are identified in the study along with research question and time schedule. Comparison study is made from different literatures in the literature review section. Moreover, in order to conduct the research in proper way appropriate methodology is selected in the study.

• To identify the factors influence preset business trends
• To analyze the advantages for using social networks in business
• To critically analyze disadvantages for using social network in business
• To recommend solutions to overcome limitations for using social network in business

Social network has an important role in present day’s business for its world wide spread and accessibility. However, several disadvantages for using the social network are the major task to be handled while using it in the business. As social network is associated with demography, social along with cultural attributes, the organization needs to consider all these aspects during using social networks for business purpose. It opens a business scope for the business organization. On the other hand, it can be useful for entrepreneurs to reach wide range of customers and spread business idea. Social network can be used as a feedback platform for the customers that help the organization to understand their demands and can work on it. The opportunity is based on detecting the objectives with the generation of positive awareness as well as consciousness in public. Moreover, social network can guide towards new as well as guiding entrepreneurship in order to know as well as use the platform in effective way. Hence, social media and media can open an opportunity to the preset business to reach large number of audiences, improve its brand value and socially attached with the customers.

Social media networks are important resources for business in order to promote the brand through online. The platforms are free to use. Thus, sharing post of the business can save cost. However, it is required to pay for advertising options. It is also important to select and nurture social platforms, which are best suited for the business (Moyes et al. 2015). Successful completion of the social strategy needs to be familiarize with each network runs and the types of audiences that can be reached on the network and the process of using the platform for business. Facebook, Twitter, Pinterest, Instagram, Snapchat and Youtube.

Aral, Dellarocas and Godes (2013) commented that social network are internet services, which helps to interact with large number of audiences and share as well as create content through making online communities. Social networks can gain advantages in the business through promoting name of the brand as well as business. Social media can reach to millions of people across the world. It has ability to target specific groups. There are several forms of social networks such as Facebook, Twitter, Instagra that allow the business to set target for particular groups as well as locations. As it is free or low cost, it can reduce cost of the business operation. Social media allows communicating on personal basis with every customer along with groups.

Project Scope

 In addition, it is fast thus it can quickly distribute information to large number of people. However, high level skill and computer equipments are not required for using social networks in the business. Easy navigation procedure as well as data detection can be helpful to handle information for the organization with brand value which comes through the platforms. Social media can increase sales where the organizations can adopt social networking through effective communication. Social media can be helpful to handle geo-targeting standards with specifications, which are based on allowing different people working on minimizing time lag with enhancement to reach people in better way.   

Instead of having several advantages in business, social networks have several limitations in business of the organization (Zaglia et al. 2015). Excessive use of social media can waste time and money for the organization. Rapid spread of wrong information regarding business like negative feedback of the customers can be decrease brand value of the organization. Legal issues like privacy legislation as well as the laws related to spam, copyright as well as other online related issues may generate for the use of social media in business. In addition, biased feedback can be generated through social media platforms. On the other hand, security issue is one of the major disadvantages for using social network in the business. People like to navigate the descriptive options of the products where biased and selectively negative report can mislead customers to go through the products or services of the organization. The sites are specific to the character where characters of the organization can lead to explanation of information in effective way that has limits for gaining opportunity in order to understand people with better display of the explanation. There may be issue for lack of feedback control by the organization that results negative impacts in the business. As it mainly attracts current brand users, other customers can not be benefitted for using social network. In addition, local business as well as distant fans is one of the major disadvantages for using social networks in business of the organization.

The research questions can be explained as followed.

• What are the factors influencing preset business trends?
• What are the advantages for using social networks in business?
• What are the disadvantages for using social network in business?
• How solutions can be provided to overcome limitations for using social network in business?

Research methodology can be defined as the procedure of making systematic approach for problem solving. It is the way of explaining, exploring as well as prediction of specific research phenomena.

There are generally three types of research philosophies such as positivism, realism as well as interpretivism. In the present study, positivism philosophy will be selected for using factual knowledge as well as lead to test the hypothesis of the research in scientific as well as statistical way that is trustworthy.  In order to understand the advantages of using social networks in the business, positivism philosophy will be helpful to give provision to the type of the research.

Deductive and inductive are two type of approaches used in research (Taylor et al. 2015). Deductive approach assists to develop hypothesis as well as testing through developing new research strategy. On the other hand, inductive approach concerns with finding new patterns in the existing theories along with creating new theory of obtained knowledge. For the research, deductive approach will be selected for its suitability and appropriateness with positivism philosophy. The approach enabled to test the hypothesis whether the use of social network can bring advantages in business or not.

Literature Review

Mackey and Gass (2015) stated that exploratory, explanatory as well as descriptive are three types of research designs widely used in scientific researches. Explanatory research concerns with description of the causes of specific phenomena and predicting future occurrences. In the research, descriptive research will be selected in order to clarify topic of the research.  

In the research, online survey will be conducted in order to get opinions of the staffs of the organization regarding benefits and drawbacks of using social networks in the business. 65 employees from different organizations will be selected for the research. Simple random probable sampling technique will be followed for the research. There are two types of data collection process such as primary and secondary. Primary data will be collected from the employees of the organization.  On the other hand, secondary data from different articles are presented in the literature review portion of the study. Close ended likert scale based questioners will be asked to ask survey questions. The replies will be collected as the form of raw data. The accumulated data are analyzed with the help of quantitative analysis in the study.

In order to provide business proposal for the organization to adopt social network as a business strategy, comparative analysis is achieved. However, there are some limitations for facing some difficulties while conducting the study. Due to lack of adequate money as well as time, it is not become possible to use high rated technology for analysis of the use. On the other, dependencies on some limited articles that are not completely update may generate issues for the study. In addition, it is important that due to close-ended questionnaires, there are scopes opened for giving opinions of the participants. Moreover, some biased feedback may lead to inappropriate results for the study.  

Conclusion

From the above discussion it can be concluded that social networking can be useful to expand the business in effective way. The feedbacks with inputs are set for large number of customers to assist filling gaps as well as work on the procedure of enhancing the business. There is a requirement for social networking in order to handle the organizations with aims for handling limitations. However, there are several limitations of using social networks in business that are required to minimize with proper measures. The organization needs to use social network by identifying demographic options and preferences of the customers. In addition, copyright and privacy issues need to be considered by the organization in order to get best possible results for using social networks in business of the organization.

Reference list

Aral, S., Dellarocas, C. and Godes, D., 2013. Introduction to the special issue—social media and business transformation: a framework for research. Information Systems Research, 24(1), pp.3-13.

Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and design. Routledge.

Moyes, D., Ferri, P., Henderson, F. and Whittam, G., 2015. The stairway to Heaven? The effective use of social capital in new venture creation for a rural business. Journal of Rural Studies, 39, pp.11-21.

Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.

Zaglia, M.E., Waiguny, M.K., Abfalter, D. and Müller, J., 2015. The influence of online social networks on performance of small and medium enterprises: an empirical investigation of the online business to business network XING. International Journal of Entrepreneurial Venturing, 7(1), pp.1-23.