Hi6008 Business Research - Free Assessment Answers

Answer:

Introduction 

In the current scenario, the internet is widely used to connect with people because it connects the people without any geographical areas. Online social networking has altered the way of business to interact with people. Online social networking has changed the scenario from niche to mass adoption. Social media incorporates different techniques like blogs, social networking, web pages, podcasts, advertisement websites, and company-sponsored sites. An effective networking is a vital tool for enhancing the business growth. In modern times, social networking is bringing fast as it has improved public relations and organizational communication. High technology focuses on internet facilities and also provides the opportunity for making communication between public and organization (Turban, et. al., 2017).

The main aim of this report is to address the benefits and challenges of using the social network in business.  The objective of this research study is to gain an understanding of how the social network has affected the organization in the favorable and unfavorable way.

This project has a wider scope for readers to understand the usages of social networking in business. It is also beneficial for the company to develop the awareness about advantages and disadvantageous of using the social network in business.  

Literature review

Social networking is defined as web-based services, which permits the users to make a connection with semi-public and public. This system also articulates the record of other users with whom they share a link and also reverse their record of links. Social networking is classified into two parts such as public social networking sites and internal social networking sites. Public social networking is like water cooler at IBM as well as Harmony in SAP is possessed by the company for their own use within an organization. The social networking sites are recognized during the 1990s.   Furthermore, different research has conducted on use and adoption of technology in the field of information technology (Cook, 2017).

Companies are likely to use social media as an external factor could impact the business performance. These factors are trading partners, customers as well as competitors. Social networking is used by government companies as well as business firms as communication techniques. These companies actively apply the social media for marketing, advertising, building liaison with customers as well as interacting with customers, and branding. It is also stated that web 2.0 is used in social networking to make instant messaging, email with collaboration initiatives (Sekaran and Bougie, 2016).

A social network could be defined as a group of performer who demonstrates the association among them. In a social network, there are set of performers such as organization, individual with other social entities, which are connected with each other due to affiliation, friendship, information and financial exchange and trading relations. An online social network is an expansion of social sites on the internet through online software. This network is used by people for making the social association. With the purpose of the company, different social media services could be used like Twitter, MySpace, and Facebook. But, social media enlarges the scope of goodwill uncertainties and increases dynamics of uncertainties (Eriksson and Kovalainen, 2015).

Social networking sites are used for business intelligence. Social networking sites are used by the organization as an analytical technique. This site is beneficial to identify the market need in which company can recognize the products trends by responses of customers towards the product. The company can also address the products and services of key market players. Social networking is beneficial for branding and advertising. The company can improve the extent of customer facilities by responding and listening to what their customers want from their brand (Trainor, et. al., 2014). It also uses social networking for many purposes like a highly accessible platform for developing a personal brand, permits promptly to make a link with peers, customers, and employees. Another purpose is that it provides an opportunity to gain understanding from immediate feedbacks and existed data (Brooks, 2015).

The company can apply the social networking sites to get expertise. This expertise makes able to company to learns, understand and judging competencies of people, and building teams for solving complex issues. It also facilitates technical assistance and maintains the relationship with customers.  The business also uses social networking when building an effective culture of corporate in order to build trust between workforces (Borgatti, et. al., 2018).

There are several challenges that could be faced by the company when adopting social networking in business. The major risk is associated with declining employee’s productivity and information leakage by gossiping of employees on social networking sites. Information security is another concern of using the social network in the business like Twitter and Facebook is implemented by hackers to allocate spam and malware through hacking user account and then distributing malware and spam via trusted accounts. Privacy is also a major issue in adopting social networking sites in the business (Bryman, 2015).  

Justification of research problem

In the existing circumstances, a corporation faces difficulties to promote their brand within the market. Hence, the company should use social networking system in the workplace. This research is valuable for developing the awareness regarding uses and advantageous of adopting the social network in business. It is also significant for the company to gain their knowledge about challenges of using the social network in business practices (Burns, 2016).

Literature gap and opportunity

Through the literature chapter, an investigator will emphasize on the benefits and challenges of using the social network in the business. This literature review facilitates the opportunity for analyzing the advantageous and drawbacks of adopting the social network in the business. A researcher will use a small amount of sample as a sample size in the survey through questionnaire and interview as it could create complexities for a researcher to pool depth information regarding research concern (Bharati, Zhang, and Chaudhury, 2015).

Research questions 

Primary question

• What are uses of social networking in the business?

Secondary question

• What are the pros of adopting social networking in the business?
• What are the challenges of adopting social networking in the business?

Research design and methodology 

The research design and methodology is used for pooling the appropriate guidelines regarding the evaluation of opinion of participants and interpret the research findings. There are several methods of using research design within the research. These techniques would be feasible to arrive at the appropriate conclusion (Lewandowski, 2016).  These techniques are discussed as below:

Qualitative research process focuses on certain stages to complete the investigation. In the first phase, an investigator will discover the research topic and makes a plan. After that, it will make screening of criteria and conducts necessary recruitment. In the third stage, an investigator will discuss the guidance and deploy homework to attain the research aim and objectives. In the last stage, an investigator will conduct research groups and summarise research and demonstrates the final research report (Yeboah and Ewur, 2014).

Approaches to reliability and Validity

A researcher will implement the inductive approach due to subjective nature o research issue. This approach will enable a researcher to build theoretical framework associated with research issue. As a result, this research approach would be appropriate to enhance the reliability and validity of research issue (Khatri, et. al., 2015).  
Sampling and Sample Size   

Sampling is guiding principle to select the respondents from the high amount of population. Non-probability sampling would be executed by an investigator for accomplishing the research aim and objective. This technique would be selected due to qualitative nature of research concern. But, the investigator has requirement of gathering the high amount of funds and more efforts in order to implement the non-probability techniques. In this technique, open-ended questionnaire structure would be executed to carry out the interview (Stamati, et. al., 2015).  For carrying out the interview, 6 marketing manager who uses social networking in the business will be selected as a sample size from Wesfarmers limited.  

Data Collection Method  

Primary data gathering would be applied by a researcher with the purpose of completing the research in targeted periods of time. This data would be gathered by using different sources like survey through questionnaire and interview. Hence, it could be suitable for gathering the depth information through pre-determined sample size (F. Hair Jr, et. al., 2014).

Variables Specifications

There is certain sort of variables which would be applied through a researcher to explore the research concern. These variables are dependent and independent variable. In this research study, the independent variable is social networking and the dependent variable is a business process of Wesfarmers limited, Australia (Shibchurn and Yan, 2015).

Quantitative research

From the above flowchart, it could be evaluated that research issue and objective will be identified by a research scholar during the initial stage. In next phase, hypothesis and question regarding research will be developed by the researcher. Later, literature review and conceptual framework are formulated by an investigator on the basis of research objective. After that, the methodology will be designed to complete the research in a systematic manner (Alwagait, Shahzad, and Alim, 2015).

In the next phase, the researcher will choose the suitable sample by using appropriate sampling technique. After that, instruments regarding research and variable will be selected by a researcher to complete the research study. After that, the researcher will apply legal and ethical consideration to conduct the interview and survey through a questionnaire. Subsequent, information would be pooled, assessed and discussed via distinct sources. In the last, the budget would be prepared by a researcher to complete the investigation in targeted time and cost (Rauniar, et. al., 2014).

Research Instrument

A researcher will adopt secondary exploration for attaining the research aim and objectives. This research will focus on certain sources in order to get the facts and figures with reference to investigation issues such as online and offline websites, annual report, textbook, academic publication, and journals. This technique would be applied by an investigator to support the data, which will collect from primary sources. As a result, this instrument would be beneficial to assess the consistent result (Alwagait, Shahzad, and Alim, 2015).  

Quantitative Data Analysis Process

As per the above flowchart, it could be discussed that a researcher will arrange the data in the primary phase. In the next process, a researcher will develop the logical competencies associated with mean, frequencies and recoding of information. After that, collected information will be measured through Ms-excel software to demonstrate the data through the different table, charts, and graphs. In the next process, a researcher will interpret the data in a meaningful manner and also provide a recommendation to make further research. Thus, it could be evaluated that quantitative data evaluation would be suitable for attaining the research aim and objective in specified time duration (Alwagait, Shahzad, and Alim, 2015).  

Sampling and Sample Size

Probability sampling technique would be selected by an investigator for this research study as it provides the identical opportunity to selected applicants for sharing the belief about advantages and disadvantages of adopting the social network in business. Under this technique, simple random sampling method would be used to decline the probability of partiality from survey through a questionnaire. A researcher will apply 55 employees who are engaged in social networking practices at the workplace for obtaining the survey through a questionnaire. It would be beneficial for the researcher to find the valid and reliable outcome in minimum duration because researcher will use close-ended questionnaire structure for this research (F. Hair Jr, et. al., 2014).

Reliability and Validity of Data

Validity means the extent by which suitability and relevance of research study can be measured by quantitative information. For example, survey through questionnaire will be adopted by a research scholar to evaluate the advantages and challenges of using the social network in business. It will be appropriate to assess the constancy in the outcome of research. The qualitative information would be measured by a researcher scholar by applying the literature review as it would be appropriate for improving the reliability of outcome regarding research matter (Stamati, et. al., 2015).  

Research Limitations

There are certain limitations that may create complexity for a researcher to conduct the research. These limitations may be inadequate timing, funds as well as resources. Another limitation could be lack of sample size to gather the information by using survey through a questionnaire. A researcher would be responsible to keep the privacy of participant’s data. Therefore, these limitations could affect the outcome of the investigation (Yeboah and Ewur, 2014).  
Time schedule 

The above time plan demonstrates that performing survey through questionnaire and pooling data through secondary sources will take more time as compared to other activities that will be implemented (Stamati, et. al., 2015).   

Conclusion 

It could be concluded that social media is used by business for different purposes such as a highly accessible platform for developing a personal brand, customers, employees, and permits promptly to make a link with peers. There are certain tools for using the social network in a business like. It can be also summarized that there are different advantages of using the social media in business such as business intelligence, branding, and advertising. It can be evaluated that there are certain drawbacks of implementing the social network in a business like declining employee’s productivity, information leakage by gossiping of employees on social networking sites.

References

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Bharati, P., Zhang, W. and Chaudhury, A., 2015. Better knowledge of social media? Exploring the roles of social capital and organizational knowledge management. Journal of Knowledge Management, 19(3), pp.456-475.

Borgatti, S.P., Everett, M.G. and Johnson, J.C., 2018. Analyzing social networks. USA: Sage.

Brooks, S., 2015. Does personal social media usage affect efficiency and well-being?. Computers in Human Behavior, 46, pp.26-37.

Bryman, A., 2015. Social research methods. USA: Oxford university press.

Burns, P., 2016. Entrepreneurship and small business. UK: Palgrave Macmillan Limited.

Cook, N., 2017. Enterprise 2.0: How social software will change the future of work. UK: Routledge.

Eriksson, P. and Kovalainen, A., 2015. Qualitative methods in business research: A practical guide to social research. USA: Sage.

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