Fmcs3110 Social Media And Network Assessment Answers

What is your opinion about learning experience?

What is the value of this experience?

In what ways might this learning experience serve you in:

Course

Program

Future career

Life generally

How you will transfer or apply your new knowledge and insights in the future?

What you did, read, see, and hear?

How Business Research was useful for your Research Learning Process?

Introduction

The age of fast paced technology and communication is blessed by the rightful invention and implementation of social networking. Social networking has become an important factor in the present day communication and technology of the business world (Jussila, Kärkkäinen & Aramo-Immonen, 2014). The research proposal and literature review about the advantages and disadvantages of social networking has been fruitful for me in terms of knowledge and understand the present day world. 

Opinion and Value of the research

The literature review and the research proposal have not only to perceive knowledge and understanding about how the world is working today but has been instrumental in transforming my entire world view. It has not only indoctrinated me about the significance of the social networking websites and mobile applications in the arena of business, productivity and distribution but also made me free from being opinionated and traditional as a thinker. The social networking and its requirement in the world along with its advantages and disadvantages have enhanced my knowledge about the world order and the global economy (Aral, Dellarocas & Godes, 2013). The advantages of social networking sites easily overpower the disadvantages of it. In the last decade, the social networking sites and applications have not only created external communication between the business organizations and the customers or between the two business organizations but also have been instrumental in becoming a bridge between cultures, societies, languages, races, nationalities and religions.

As it is known that social networking has become an important aspect in the working manual of business organisation, this knowledge will be helpful for me in the future. At present almost all the prominent business corporations are conducting social networking activities. Social networking websites and applications have become the core of activities like online sales, customer interaction, client connectivity, presenting or introducing company information with new customers.  Moreover, social media networking and social media marketing have become a major tool for the corporation. Therefore this research can be useful for my future.

Utility of the assignments

The learning process will be useful for me in the future works and assignments on various levels. The impact of this research is on various aspects of on educational course, university programs, future career and life in general.

• Course: The idea about the advantages and the disadvantages of the social networking sites will help me to understand the aspects of marketing in a more holistic way. It has enhanced my knowledge about the cost effective nature of social networking sites along with the establishment of the relationship between the customers and the business corporation and about the increasing number of online sales which have a much higher reach than an off line sale. These ideas have provided me with a new age view about business marketing as a whole.
• Program: The journey of working on the first two assignments has been an enriching experience for me. The importance of social media websites and its unhindered progress is a huge factor in today's business world. This knowledge will enhance my activities and my performances in the program.
• Future career: Social media experts have become a common designation in most of the consumer related business corporation in the present scenario. Therefore, the knowledge, which I have been acquiring through this research, will be helpful in my career.
• Life: Social media has entered our personal lives about a decade ago. Therefore the impact of social media has been humongous in the lives of common people. The drawbacks of social media have been noticed in the research materials. Hence, it will make me more careful about the security issues and the time consumption factor of social media.

The appointments of social media experts have become a top priority for various business corporations. Every business house is trying to enhance their social media communications to reach out the customers and allure them to buy the products. This research and understanding of the limitations and utilisation of social media websites and applications like Facebook, Twitter, YouTube, Instagram and others will be helpful to me both as a freelancer or in job opportunities.

Events of the learning process

The research was basically conducted to understand the role of social media in the present day life and business. The literature review and the research proposal was entirely based on various other research materials and the available online documents. The process of learning was thoroughly enjoyable and productive for the future. There were some shocking statistics in terms of the use of social media. For example, a developing economy like India has been leading in various charts of social media users. According to a data of a reputed website, almost 52 percent of the business corporations in India are using social media as a tool for communicating with the customers (Aral, Dellarocas & Godes, 2013). These tools of social networking are primarily used to attract new customers. These websites and social media platforms are utilised by the business corporations in order to control the choices and to increase the sales.

I came to know that Facebook has the highest number of users in the world. The social networking platform has more than 1.6 billion users around the world. The business corporations like Unilever, Amazon and Alibaba has been using this platform to elevate their connectivity with the customers (Jussila, Kärkkäinen & Aramo-Immonen, 2014). The business corporations have been instrumental in sponsoring Facebook pages and activities to enter the drawing room so the potential customers around the world. The direct advertisements in the customer profile pages and home pages have become a distinct characteristic of the advertising of the social media platforms. Twitter is another such website which is next to Facebook in terms of the users but has been equally popular as a tool of marketing and customer connectivity. The scheme of connecting a person with in 140 characters is not only short and sweet but is also useful in terms of business activities. The Multinational Companies and smaller vendors often use Twitter as a tool of service, customer networking and business networking. Linked In is another such social media platform which is strictly limited to professional activities like business, providing job opportunities and the elevation of professional connectivity around the world. The users of Linked In have been increasing in the last two-three years. However, this has provided a safe and secure destination for job opportunities and professional connectivity.  My research also made me notice that how YouTube has emerged as a major stake holder in elevating the world business. This video sharing website has not only become a business opportunity for freelancers, young video bloggers and filmmakers but also became a destination for advertisement and publicity for all the major corporations. Other websites like Instagram, Pinterest, Snapchat, WhatsApp, Vine and others have arrived in the scene to create new business possibilities.

Other facts which are to be noticed among my research materials are based on the drawbacks of the social media. Social media has become a humongous phenomenon which has taken over human psychology in both the personal and professional levels. Its utilization and impact on business are so deep that most of the business corporations are unable to understand its drawbacks. For example, a lot of time is required to handle these platforms which often become a hurdle for the companies. Though the customers are communicated through the social media platforms it is not possible to control the feedback of the customers. The lack of privacy is the major drawback in the social media.

However, my research also emphasizes about the advantages of the social media platforms in terms of online product sales, customer connectivity and its cost effective nature. It is a known fact that a huge amount of money is spent by the corporations to ensure good implementations of advertising. In the present world of consumerism and sales maximization advertising has become the most major aspect in terms of increasing the sales of a company.  Therefore, this was also noticeable in my research.

Evaluation   

The social media is a useful phenomenon in today’s world but it has its advantages and disadvantage. The social media platforms have major drawbacks like in the issue of privacy, security and high amount of time consumption. However, it improves communications and increases the scope of marketing by a huge margin. It is understandable that the advantages of using social media have overpowered its drawbacks by a huge margin and hence it has become extremely essential for any form of business.

This business research has gifted me an outlook to understand world business and the emerging role of social media across the countries. In a global economy, the aggregation through such connectivity can only ensure better distribution prospects for the business giants. The business research was a journey through which I learnt all the characteristics of social media platforms and its utilization. This business research has helped me to understand a research process. The more I read and understood the research work, the more I Learned about the process.

Learning Process

• Insights: The insights like the development of the third world countries in terms of social media were a big revelation in my research. The countries like India and Mexico has been doing instrumentally well in the digitalization of business and increasing the reach of social media.
• Feelings: The social media phenomenon has also made me knowledgeable in terms of understanding the international business and marketing. It has made me understand the power of networking and administration.
• Hypothesis: The present world of business runs on advertising and marketing of a product or a service and the most efficient form of reaching people is through the means of social media.
• Conclusion: I chose this topic for the first two assignment particularly because significance of social media in the present day business. In the Post-Ford era, social media has become the most eminent phenomenon for business. As a student, it was important for me to grasp such huge instrument of present day business.

Application of learning

This research will be instrumental in my future activities and professional life. This journey of research has elevated my world view in more in various ways and offered me a definite perspective of perceiving things related to business, marketing and social media. The learning procedure, course, program and the research material has helped me to become a mature commentator on the social media functions and its impact on the present day society. The knowledge about social media and its utilization will elevate the possibilities of my career. This research will perhaps make me more eligible for the designations of Social Media Expert for eminent corporations.

Conclusion

This research on the use of social media in the world of business has enhanced my knowledge about the business activities around the world. The drawbacks has made me concerned and made me aware whereas the advantages have encouraged me to know more. The enormous potential of social media is a boost for the growth of the global economy. This phenomenon is unmatchable in compared to any other ideas in the recent years.

References

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

Jussila, J. J., Kärkkäinen, H., & Aramo-Immonen, H. (2014). Social media utilization in business-to-business relationships of technology industry firms. Computers in Human Behavior, 30, 606-613.