Challenges in Social Networking for Businessâ€Myassignmenthelp.Com

Question: Discuss About The Challenges In Social Networking For Business? Answer: Introduction: Social networking sites are gaining popularity every now and then. Social networking sites helps people to create their personal profile online and keep in touch with the rest of the world (Ashley and Tuten 2015). Users of social networking sites are able to connect with other parts of the world by using their profile of social networking sites. According to many study, people in recent time often access various social networking sites to stay updated. In this modern era, people prefer virtual meeting with their friends and family more than physical meeting. The do not get sufficient time in their busy schedule to visit their relatives place to meet with them. By using their social networking sites they can meet and interact with their close ones within a short span of time (Brinkmann 2014). In recent time, business organizations are adopting new strategies to reach to the large number of buyers, social media is considered as one of the most preferred form of new media for every business organization (Hall and Antonopoulos 2016). In this online era, several business organizations use social networking sites as the weapon to draw the attention of large number of consumers. It helps them to reach to their potential consumers. Social networking helps the business organization to promote their brand name to the every corner of the world. Although, social networking has many benefits for a business organization, it has some drawbacks as well. The below mentioned article has concentrated on the challenge in social networking for the business. It has enlightened various aspects of a business organization to provide a vivid concept about the negative impact of social networking on the growth of a business organization. Literature Review: Many analysts claim that social media puts significant impact on the every functional area of a business organization, such as- PR, marketing, supply chain, internal and external stakeholders. Every organization are now a days adopting hybrid approaches to make put a strong footprint in the social media. This is a major challenge for the business organization to implement hybrid approaches in the organization (Wamba and Carter 2016). According to some reports, the emergence of social networking sites has changed the organizational structure of the business organizations (Tsimonis and Dimitriadis 2014). It is often evident that confidential data of the business organizations accidentally released in the social networking sites which is harmful for the organization. In this online era, everything has become very much transparent. It has become tough for any business organization to maintain the security of the important information of the organization. This may lead the organization to meet an awful consequence. It is important for every business organization to safeguard the private data of the organization, as it can be harmful for the organization to beat other rival companies. There are many reports that claim that rise of social networking sites has increased the power of the customer (Van Noorden 2014). Customers can now a days quickly exchange their products and ask for refund. This has scope of the negative publicity of the business organization. It has become hard for the business organizations to stop bad publicity among the consumers. Although, it works as good publicity for the business organization, it can be harmful for the reputation of the business organization as well. It has become tough for the business organization to track any negative statement that can destroy the brand image of the business organization. The development of the organization can be harmed due to such practices. Due to the immense popularity of social networking sites, people often comment or share their opinion over an issue in their social networking sites. They can make any statement purposely to destroy the image of any business organization. The business organizations are facing various challenges due to such issues. They often fail to track the person that has made negative comment about their brand name (Trainor et al. 2014). It is impossible for any business organization to track the activity of each employee on the social networking sites. The organizational management often faces due to this issue, as many employees are making various statements on the behalf of the organizational authority. In recent time, it can be frequently seen that many business organization is suffering from various crisis due to wrong comment of the employees on the social networking sites. Due to the rise of social networking sites it has become very easy to make comment over any issue. Sometime the ex employees of many business organization purposely comment on the organizational issue to spoil the brand name of the organization. This is one of the major challenges for every business organization is facing every now and then. According to some reports, the emergence of the social networking sites has provided an opportunity to the rivals of the business organization to spoil their reputation in the society (Rothaermel 2015). Due to the emergence of social networking sites, the scenario of the business organizations has been transformed. It has led the organizational management of the business organization to modify their human resource activities as the one wrong step can spoil the whole reputation of the business organization. It has become very important for the business organization to consider the fact while designing their human resource activity. The organizational management must pay close attention to the activity of their employees as well as other members of the business organization to protect their reputation. This is one of the biggest challenges for the business organization. In this competitive era, where every business organization is adopting new strategies to foster the growth of the organization it has become tough to monitor the activity of the organizational member to maintain the reputation of the organization. Many studies have claimed that use of social networking sites has increased the production cost of the organization as well as it has put the reputation of the business organization at stake. The business organization must appoint some social media expert to maintain the social networking sites of the organization. One wrong step form the expert can lead the organization to face an awful consequence. This has increased the production budget of the organization. Eventually the product price of the organization will be increased. This is harmful for the growth of the business organization. It has become very tough for the business organization to maintain the balance. Sudden increment in the product price can decrease the profit margin by reducing the market demand of the product. The growth of the organization will be restricted due to such practices. This is considered as one of the major challenge for business organization these days (Schivinski and Dabrowski 2016). Comparative Analysis: Although, many business organization is facing various difficulties due to rise of social networking sites, there is a conflict among the analysts about the effect of social networking sites on the business organization. According to some analysts, social networking sites have affected the growth of the business organization in negative manner (Leonardi, Huysman and Steinfield 2013). On the other hand, there are some analysts that claim that the growth of the business organizations has been influenced due to the emergence of social networking sites. They have explained some of the opportunities that social networking sites have provided to the business organizations, such as- Customer Relationship Management: According to many reports, the growth of the social networking sites has provided a great opportunity to the business organization to establish a strong relation with the consumers. As opined by Funk (2011) in his book Social Media Playbook for Business: Reaching Your Online Community with Twitter, Facebook, LinkedIn, and More that the rise of the social media has strengthen the relationship between the business organization and potential consumers. The business organizations are now a days share all the detail related to their products and brand in the social networking sites. This has increased the transparency level in the relationship of the consumers and business organization. Increase profit Margin: By maintaining healthy relation with the consumers via social networking sites, the business organizations in these days are capable of increasing the sales rate of their product. The transparency level that has maintained by several business organizations has increased the loyalty of the consumers towards the brand. Eventually this increases the sales ratio of the organization and the organizations have become capable of retaining consumers for a long period of time (Laroche, Habibi and Richard 2013). Business Expansion: Social networking site have provided an opportunity to the business organizations to expand their business in the global market. In this online era, it has become very easy for every business organizations to promote their product in every corner of the world. This helps the organization to reach to the global customer and earn huge profit by providing quality product and service to them (Kwok and Yu 2013). Defeat Rival Companies: By using social networking sites as a weapon to promote the brand name in all over the world, the business organizations have become capable of defeating their rival companies. According to many reports, the business organizations are now capable of maintaining healthy competition with their rival companies. The business organizations are giving tough competition to their rival companies by using social media to as a tool to draw the attention of huge number of consumers (Hudson et al. 2015). Public Relation: It is important for every business organization to maintain healthy relation with the society and people around the organization. The social media provides a great opportunity to the business organizations to draw the attention of the whole society towards the organization. Many business organizations are promoting their CSR activities in the social networking sites to seek the support of the society. This helps the organization to gain more popularity among the consumers. Social media works as a public relation tool for the organization (Jussila, Krkkinen and Aramo-Immonen 2014). Thus it can be stated that there are many benefits of social media that foster the growth of the business organization along with various negative impacts of social media. Although there are some negative impacts of social media in the development of the business organizations, social media has influenced the growth of the business organization. It has put a significant impact on the financial infrastructure of the various countries. In order to achieve desired position in the industry, many business organizations are using social media as their weapon. Social media marketing has become an integral part of the organizational strategy. Every business organization is incorporating social media marketing to increase the profit margin by selling products to the local as well as the international consumers (Tiago and Verssimo 2014). However, it cannot deny that social media possesses some negative impacts as well that can be harmful for the reputation of the business organization. One wrong step in the social media can destroy the brand name of any business organization. Thus, business organizations must be careful about the fact (Dijkmans, Kerkhof and Beukeboom 2015). Conclusion: As per the previous discussion, it can be stated that social media has become an integral part of the business organization in recent time. The primary objective of the business organization is to make huge profit and reach to the maximum number of people by using social media. The organizational management of several business organizations are including new strategies to gain more popularity in the in the social media. 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