Introduction: Social Networking Practices
Question:
Analyze the advantages and disadvantages of using social networks in business in context of Woolworth limited.
The social media entails certain web-based communication technique which could be exercised by a company to share the data and make communication with other people. In the modern business time, there are certain social network channels which could be used by the company to spread the awareness about the products and services. These social networking channels are LinkedIn, Facebook, Instagram, Snapchat, Twitter, and WhatsApp. It is evaluated that there are about 46 billion of people who use social networking practices to make communication with their friends, colleagues, relatives, and others. It is an effective platform by which people share their prominent beliefs and ideas with other people. It is determined that Facebook is a standard social network as there are about 1.86 million people who use this sites at a worldwide level. In the current times, young people highly use social networking to shop the products and services and share their opinion about those products (Turban, et. al., 2017).
Social networking practices could be significant for the existing business as it can influence a large number of people towards their brand. It is an effective medium to deal with the customers because of customer highly active on these sites. Woolworths can use the social networking practices to build the awareness about the products and services between large numbers of customers. As a result, it can be stated that social networking practices are significant to gain the productivity in minimum cost and time. This report presents the literature review of research issue. It will entail the review, descriptions and present depth analysis conducted by several authors about research concern (Leonardi, Huysman, and Steinfield, 2013). The research topic of this report is to analyze the pros and cons of using the social network in the Woolworths Limited, Australia.
The key intention of this research is to assess the pros and cons of implementing social networking practices in the business of Woolworths Limited, Australia. The below are certain objectives which would be practiced to accomplish the key intention of this research:
- To define the meaning and concepts of social networking
- To address the pros of social networking practices in the business of Woolworths Limited, Australia
- To describe the cons of social networking practices in the business of Woolworths Limited, Australia.
The project scope is wider because social networking practices are highly used by people and business. Furthermore, the literature review is assessed from the different journal articles, blogs, articles and online websites as it would be prominent for the readers to increase their detail knowledge regarding social networking functions in an organization. This project would be efficient for retailers and Woolworths limited because it will facilitate the information with respect to pros and cons of using social networking in an organization (Eriksson, and Kovalainen, 2015). It could be effective for other company to use the social networking practices in an organization.
Introduction
This chapter defines the literature review of the research issue as it supports the researcher to gain the understanding regarding social media concept in an organization. It also provides the facts and evidence with respect to pros of using social networking system in a Woolworths Limited, Australia. In the last, it gives depth information regarding cons of the social network in a Woolworths Limited, Australia.
Use of Social Networking Practices in Woolworths Limited
Meaning and concepts of social networking
Denscombe (2014) stated that the social networking practices are a leading factor which may affect the business performance. It is a catchphrase which could be practiced by different retailers to spread the information about their business and publicize it. Social networking system plays an effective role in the success of the business. It is a sort of media channel which connects the readers and viewers through platforms of social media like YouTube, Twitter, and Facebook. In the modern business practices, it is an essential requirement of an organization because it is not only beneficial to retain their current customers but also helps to attract the potential customers towards their business. It also enables the company to increase the attentiveness amid customers regarding products and services in the targeted area. Thus, a corporation can approach the appropriate set of consumers.
In opposed to this, Batjargal et al. (2013) evaluated that social networking facilitates the medium to the company to make liaison with potential customers at one time in across Australia. It is also beneficial for Woolworths Limited to expand and enlarge their business in the retail industry. There is a wide range of companies which operates in different areas like retail, electronics and travel and tourism hence social network could be an effective platform to sell their products and services at one place. Due to globalization challenges, the company may have a problem to implement marketing and promotional activities. In such case, the social network is a good option to develop the business by obtaining positive reaction from existing and prospect customers.
In favored to this, Schaltegger and Wagner (2017) stated that traditional sales promotion technique could be used by Woolworths Limited because it is significant to increase the revenue of the company. It is also opined that social networking platforms are an expensive and unreliable medium because it can easily decline the business goodwill in case customer gives their negative reaction. It is also evaluated that people can visit on their company page via advertising and promotion strategy but there are high chances to ignore the advertising by people because they have lack of time.
Pros of social networking practices in the business of Woolworths Limited, Australia
In the view of Burt, Kilduff, and Tasselli (2013), the social networking practices could be advantageous for creating awareness about the brand of the company amid customers. It also aids the company to construct their own judgment in business. A business can make good liaison with their end consumers by using the social networking practices. From the several studies, it is pointed that there are different users which have gained their occurrence through online. Consequently, it generates the opportunities for an organization for enlarging their business via social media channels. It is evaluated that social networking platform is uncomplicated and quicker process which permits the business to build effective liaison with their customers.
On the other hand, Okazaki and Taylor (2013) opined that social networking could be a beneficial tool to increase the status of business in the globalization age. Social networking practices could be executed by business to conduct marketing of products and services. It could be also effective for an organization because it creates the awareness and facts about the business amid customers in less time and cost. It permits an organization to connect with the customers at international level. The communities and forums on social networking channels help the customers to get the reliable data about products and services by assessing the review of other people. Consequently, it can be stated that social networking system could be effective to persuade the consumer buying behavior. Along with this, social networking channels could be used by the company as target advertising. It could be beneficial to increase the customer’s demand towards their products and services. Social networking is an effective approach to demonstrate the company’s data amid customers. This system could be used by the company in 24*7 hours as it can pull the attention of a large number of customers.
Objectives of the Research
According to Bott and Spillius (2014), advertising could be effective for a company to gain their profitability as it should consider the advertising in their marketing strategy. There is a wide range of alternatives which facilitates the information to the company to target those customers who are interested to shop their products and services. This channel helps the company to arrive at the high amount of customers and declines the waste material from the company. In the existing situation, social networking sites are considered by the company to spread the data regarding products and services with high speed. Thus, social networking sites are becoming an effective platform to pool and spread the facts and figures associated with products and services of the company. It is analyzed that internet and Smartphone are highly used by people in Australia as it leads the Woolworths limited to increase the access to social media.
In support of this, Rennie and Morrison (2013) evaluated that social networking practices are essential for a company to enhance the good relationship between the business and their users. Hence, it supports the corporation to expand their business in across the local market. It is also stated that there is a high quantity of customers in Australia as it helps the company to gain their publicity and increase the profits. From the study of certain authors, it is assessed that there are approximately fifty-three percent Australians which are loyal with respect to their brand due to using the social network. It is assessed that social networking helps to mold the customer’s perception with respect to their products and services. Furthermore, over 3 million of people are highly engaged on social media hence it could be a better option for a company to build a positive image in the mind of customers. Along with this, social media channel enables the company to attain the requirement of customers by getting the customer’s feedback. This also enables the business to frequently assess the information about the business and could be beneficial to manage the unfavorable responses in less time.
In contrast to this, Luo and Zhong (2015) stated that social networking is a beneficial tool to enhance the satisfaction level of customers. It is an effective medium to influence customer towards particular brand as the company can boost their efficiency in shorter time. But, there is a need for a company to make conscious about the comment and post of consumers as the company can favorably influence the customers by responding to their comment.
According to Serrat (2017), social networking practice is used by the company to engage the customer and creates interest among them towards their products and services. As a result, it can be stated that social networking channels facilitate the option to an organization for increasing the customer’s retention rates and loyalty. In addition to this, clear visibility of the business on social networks can facilitate the opportunity to influence the consumer’s purchasing behavior.
In support to this, Padgett (2016) evaluated that company can increase the awareness regarding their products and services by posting demonstrating image, videos, blogs, and comment about their products and services on their social pages. Thus, it could be opined that social networking system could be used by the company to create positive image amid customers towards the particular brand by offering favorable customer services. It is also assessed that while an organization uses social networking practices, then they can avoid the additional cost of marketing activities. Hence, it could be a beneficial tool for Woolworths limited to improve the ranking of their business on a search engine and attract the customers towards their products and services.
Project Scope and Literature Review
Cons of social networking practices in the business of Woolworths Limited, Australia
Trainor, Andzulis, Rapp, and Agnihotri (2014) stated that social networking channels can take more efforts and time of company because there is needs to make regular update the information about their business. It is also stated that replacement of current information and updating new data may take more time. Social media can reduce the number of followers in the business in case they get negative and misleading information. It could be disadvantageous for business due to its complexity in the workplace. Along with this, the social network has inadequate to make the personal and emotional link between business and customers.
On the other side, Nielsen and Schrøder (2014) described that social networking incorporates the legal concern as it could be expensive for a company. In addition, the effect of social networking could be impermanent and moved out after certain time duration. Therefore, it can be stated that social networking generates time wastages and demonstrates adverse comment of the customers as it can destroy the goodwill of the company.
In the view of Ellison, Vitak, Gray, and Lampe (2014), social networking creates the chances of fraudulent activities and theft issue in business practices. In addition, lack of administration of social media strategies may have an impact on the organizational goal and objectivity. Social networking can create the legal and business risk within an organization as the company can face the problem to promote their products and services. There is also the risk of declining goodwill and loss of trustworthiness of the company. Since, there is freedom to the customer to share their negative comment with others about the products and services. Thus, if the customer will post misleading data about products on the social page then it will have ultimately reflected on the revenue of the company.
Conclusion
As per the above interpretation, it could be summarized that social networking practices are significant for a corporation to deal with the globalization situation. It is also executed by the company to improve the competencies of a corporation. It could be used as a platform to interact with people and consider their needs in product development. Thus, it can increase the profitability and productivity of a company. It can be concluded that different channels of social networking system could be practiced by Woolworths limited to reach at the bulk of customers at one time. However, there is a certain risk that could be occurred during implementation of a social network such as legal and business risk, and loss of goodwill.
It could be summarized that social networking system facilitates the opportunity to Woolworths limited to increase their customer demand and persuades the customer’s buying decision. It could be effective to make connection amid customers at the global level and provides the opportunity to the company to increase their revenues. However, social networking practices can mislead the data and could be used by competitors to create negative image amid customers.
References
Batjargal, B., Hitt, M. A., Tsui, A. S., Arregle, J. L., Webb, J. W., & Miller, T. L. (2013). Institutional polycentrism, entrepreneurs’ social networks, and new venture growth. Academy of Management Journal, 56(4), 1024-1049.
Bott, E., & Spillius, E. B. (Eds.). (2014). Family and social network: Roles, norms and external relationships in ordinary urban families. UK: Routledge.
Burt, R. S., Kilduff, M., & Tasselli, S. (2013). Social network analysis: Foundations and frontiers on the advantage. Annual review of psychology, 64, 527-547.
Denscombe, M. (2014). The good research guide: for small-scale social research projects. UK: McGraw-Hill Education.
Ellison, N. B., Vitak, J., Gray, R., & Lampe, C. (2014). Cultivating social resources on social network sites: Facebook relationship maintenance behaviors and their role in social capital processes. Journal of Computer?Mediated Communication, 19(4), 855-870.
Eriksson, P., & Kovalainen, A. (2015). Qualitative methods in business research: A practical guide to social research. USA: Sage.
Leonardi, P. M., Huysman, M., & Steinfield, C. (2013). Enterprise social media: Definition, history, and prospects for the study of social technologies in organizations. Journal of Computer?Mediated Communication, 19(1), 1-19.
Luo, Q., & Zhong, D. (2015). Using social network analysis to explain communication characteristics of travel-related electronic word-of-mouth on social networking sites. Tourism Management, 46, 274-282.
Nielsen, R. K., & Schrøder, K. C. (2014). The relative importance of social media for accessing, finding, and engaging with news: an eight-country cross-media comparison. Digital journalism, 2(4), 472-489.
Okazaki, S., & Taylor, C. R. (2013). Social media and international advertising: theoretical challenges and future directions. International marketing review, 30(1), 56-71.
Padgett, D. K. (2016). Qualitative methods in social work research (Vol. 36). USA: Sage Publications.
Rennie, F., & Morrison, T. (2013). E-learning and social networking handbook: Resources for higher education. UK: Routledge.
Schaltegger, S., & Wagner, M. (Eds.). (2017). Managing the business case for sustainability: The integration of social, environmental and economic performance. UK: Routledge.
Serrat, O. (2017). Social network analysis. In Knowledge solutions (pp. 39-43). Singapore: Springer.
Trainor, K. J., Andzulis, J. M., Rapp, A., & Agnihotri, R. (2014). Social media technology usage and customer relationship performance: A capabilities-based examination of social CRM. Journal of Business Research, 67(6), 1201-1208.
Turban, E., Outland, J., King, D., Lee, J. K., Liang, T. P., & Turban, D. C. (2017). Electronic Commerce 2018: A Managerial and Social Networks Perspective. USA: Springer.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
