BUSINESS REPORT

Business Report



Executive Summary

This paper will be discussing event management industry using social networks in their businesses. There are many benefits that are gained by companies in this industry. This paper examines social networking and its importance for individuals and organizations in event management industry. It begins with an overview of core social network concepts and their implications for social networking. Addition to this it will be discussing the risks that are involved using social networks. In the end of the paper some recommendations will be provided for the managers of this business to enhance their security using social networks.

Business Report

Introduction

The 21st-century landscape is characterized by increasing globalization and a very accelerating change. As systems become more complex and interconnected, social networking is undergoing a transformation. One of the more recent trends in the study and practice of social networking is the focus on how individuals and businesses in networks shape the environment, unleash innovation, create access to resources, and increase their performance (Veghel, 2010: 12).

Today social network is mostly used in event management industry. Almost all companies in this sector are using social networking as a major component for their advertisement. This study examines social networking and its importance for individuals and organizations in event management industry. It begins with an overview of core social network concepts and their implications for social networking. It then illustrates how networks benefit individuals, organizations, communities, and fields. It also emphasizes on the risks and dangers involved in the excessive use of social networks.

Main Body

Social networking communications are moving toward interactions between individual recipients and consumers rather than being directed from a marketing organization to masses of consumers (Partridge, 2011: 36). It is at present potential for a person to be just as effective in disseminating information, both convincing and damaging, regarding an establishment as it is for a large corporation to encourage itself. The social networking that appropriates the immediate and comfortable dispersion of information, but these communication channels are in part enabled by social networking.

The elements of the infrastructure comprising social networking are core/technological, competitive/commercial, political/regulatory, and social. In today's consumer-driven market, where telemarketing is not acceptable to users and more than email marketing resolved by reading or blocked by spam filters (Partridge, 2011: 36). It became difficult for consumers of probability. Social networks have opened up new opportunities for organizations to market their products / services for users without breaking them. Social networking sites have a loyal customer base is very large (and increasingly important), which makes it even more attractive for sellers to advertise and sell their products and services.

Utility of Social Networking in Event Management Businesses

Social media these days has become an increasingly popular tool for integrated marketing communication. Big as well as small companies are trying to find ways to reach their target customers via websites like Facebook and this channel of advertising and marketing has turned out to be extremely helpful because of the potential of customers to connect with ...