Impact of Social Networking on Business

By

ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as well as guidance they provided without that I would have never been able to do this research.



DECLARATION

I, (Your name), would like to declare that all contents included in this dissertation stand for my individual work without any aid, and this dissertation has not been submitted for any examination at academic as well as professional level, previously. It is also representing my very own views and not essentially those that are associated with the university.

Signed __________________ Date _________________

ABSTRACT

This research thesis has focused on impact of social networking, which has changed the business world today. Social networking and the use of Internet for business functions have revolutionized the corporate business the world over. Now the companies are looking for better social media options rather than the traditional marketing tools because of the fact that a number of consumers are now engaged dealing online. The fact is that traditional tools has had a good impact in the past years but the advent of social networking has triggered the emergence of new paradigms for business world. The data has been collected through secondary socurces. The findings from the analysis of the literature review revealed that the use of social networks in the businesses has the potential to transform the world of work. Many well known organizations are taking advantage of the integrative power of social networks to increase productivity, innovation, collaboration, reputation and commitment of their employees. Social networks provide opportunities to promote corporate and social efforts. They can increase contact between people and the awareness of issues relevant to the industry or company events. Social networks can contact a large number of people when other forms of communication would not work. Similarly, many businesses and government institutions already use social networks to keep in touch during emergencies.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

1.1 Introduction1

1.2 Background of the Research1

1.3 Problem Statement2

1.4 Rationale of the Study2

1.5 Research Aims and Objectives3

1.6 Research Questions3

1.7 Significance of the Study3

1.8 Scope of the Research4

1.9 Executive Summary5

CHAPTER 2: LITERATURE REVIEW6

2.1 Introduction6

2.2 Background7

2.3 Classification Model8

2.4 Impact on Productivity and Communication9

2.5 Effect on business models and strategies13

2.5.1 Peer Influence13

2.5.2 Online Shopping14

2.5.3 Online Gaming14

2.5.4 Smart phones Applications (Apps)15

2.5.6 Service Industry16

2.5.7 Recruitment Tool16

2.6 Challenges of Social Networking16

2.6.1 Adopt New Return on Investment (ROI) Concept18

2.6.2 Security18

2.6.3 Intellectual Property18

2.6.4 Adoption18

2.6.5 Storage19

2.6.6 Interoperability19

2.6.7 Speed19

2.6.8 Indirect Benefits of Social Networking Not Appreciated19

2.6.9 Risk of Loss of Employees20

2.6.10 Capturing the Value20

2.7 Implication of Use20

2.7.1 Security and Privacy20

2.7.2 Trust21

2.8 Future Trends22

2.9 Importance of Social Networking Sites for Consumers24

CHAPTER 3: METHODOLOGY27

3.1 Introduction27

3.2 Research Process28

3.3 Multi-method studies29

3.4 Mixed method studies29

3.5 Steps in mixed methodology30

3.6 Strength and weakness of the mixed research:30

3.6.1 Strengths30

3.6.2 Weaknesses31

3.7 Primary Data31

3.8 Data Collection32

CHAPTER 4: FINDINGS AND ANALYSIS34

4.1 The Rise of Social Media34

4.1.1 Demand Side Drivers:35

4.1.2 Supply Side Drivers35

4.2 Patterns and Trends37

4.2.1 Smartphone's and Applications37

4.2.2 Influence across Industries38

4.3 Challenges of Social Networking in Business39

4.3.1 Asian ...