HI6008 Advantages Disadvantages Using Social Networks Business
BUSINESS RESEARCH HI6008 Advantages Disadvantages Using Social Networks Business
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LITERATURE REVIEW
“Advantages and disadvantages of using Social networks in business”
NAME : SIDEWINDER KAUR
ID : FTC2030HI6008 Advantages Disadvantages Using Social Networks Business
Chapter 2 Literature Review
2.1 Introduction
Social networking has become extremely popular among people of all ages. The popularity of internet and improvement of technology have expedited the growth of the popularity of social networking. Social networking is synonymous with the term virtual community which means group of people who meet and talk to each other over internet without being in person. The growth of social networking is phenomenal regardless of any geographic location (Bridge and O’Neill, 2012). Social networking is based on a platform that is called social media which has led to emergence of many social networking sites among which face book and twitter have gained popularity across the world. The application of social networking has reached out beyond internet friendship and the new horizon has been explored by big and small corporate to place their business at the fore for brand image development. Thus business world has liking for the social networking by virtue of their business and social media is in use by them for reaping out benefits (Jenkins, 2009). Also domains like study and online learning also acknowledge the importance of social networking which encourages exchange of ideas in course of study or consolidation of business related views. But this popular concept often invites lot of criticism as some advantages and disadvantages prevail around social media. This literature review is focused on assimilating arguments laid by several authors and their views in support as well as against social networking. Thus this literature review is very close to a comparative analysis of several views laid by several authors and the review by means of comparative analysis seems a basis of actual discussion of advantages and disadvantages of using social networking in business. Finally a gap assessment of this literature review based on several arguments and similarities in views has given a complete shape to this literature review.
2.2 Social network from business perspective
Social networking is useful in business for sharing products related information about any upcoming products and services. But in all types of business social networking does not accrue same results. Arguments prevail that social media does not open up many opportunities to all organisations as there is some, time investment and nature of business of an organisation may not require the service of social media as a primary variant of business promotion. Bruhn, Schopenhauer and Schäfer, (2012), argued that firms nowadays show eagerness to show their affection towards social media considering the excitement about it among people. It is supported by De Carolis, Litzky and Eddleston, (2009) saying that small firms often struggle to establish their business and concentration on social media becomes secondary for them. This is opposed by (Guffey and Loewy, 2010), and said that social media marketing is almost is a common name within every business arenas and once small firms get into business properly then it becomes imperative for using social networking. De Carolis, Litzky and Eddleston, (2009) said social networking sometimes denote a very narrow sense and the vast suitability in business spheres become more clear when the term social media is used for offering more realistic form to this in business. This is supported by Harris and Rae, (2009), stating that with business growth and complexity are apparent due to factor like globalisation, volume of use of social networking differs but the usefulness and dependence of business on it are unavoidable. Hence the use of social media is important for every business but in small and large scale, it is used as per business requirement. This is viewed as not equally fitted into the business realm of all small and big firms. It is stated by Harris and Rae, (2009) that several advantages and disadvantages of social networking improve or hold back perceptions related to it and business firms who depends on their employees to use the social networking as means for propelling business are not outside the perceptible attitude of the customers regarding it. As has been upheld by Kasavana, Nusair and Teodosic, (2010), organisations need more focus on development of social media marketing strategy for business growth. Products development and service improvement are important for improving perception about products and services. Product quality and good features are factors which attract customers towards brand and purchase decisions are taken.