Research Project Plan

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    Masters
  • Page:
    2
  • Words:
    1217

Student Name 5

Assignment 1: Research Plan

Unit Code: 9505

Semester 1 2016

Title: “The Role of Social Media in Revolutionizing Businesses Operations”

Part 1: Problem Statement

The topic that I intend to cover is “The Role of Social Media in Revolutionizing Businesses Operations”. Notably, though there is a real value that is brought about by the social media platforms in the field of business, there are some critics who argue that these platforms are instead disadvantaging other businesses. At the same time, some critics of the role of social media in relation to business operations claim that there is absolutely no value that has been brought by social media in business. In this regard, there has been ongoing debate on whether social media has played a critical role in revolutionizing businesses or not. Evidently, there have been both advantages and disadvantages of social media in helping business make progress.

As the prevalence of social media continues to rise, business organizations of all types and sizes have come to realize the significance of integrating social media platforms in their business operations. Despite the strong and negative criticism against the integration of social media in business systems, the reality is that social media is currently playing a big role in enhancing business performance for many organizations. For example, organizations are using social media platforms In understanding their customers in a better way as well as reaching the targeted audience. Consequently, companies are embracing social media platforms at a rapid pace by incorporating blogs, social networks, wikis as well as other vehicles that could assist in achieving both the marketing and public relations goals.

Although the above discussion has outlined some of the positive effects of social media in advancing business operations, it is clear that there has been a growing concern of whether it is advisable for companies to operate through social media platforms or to what extent should business operations be put on such platforms. The key concern for the opponents of the role that social media has played in advancing business across the world is that business risk is likely to go up since there is higher possibility of hackers accessing the confidential information of an organization than before the introduction of social media. Social media according to this observation has provided more avenues in which hackers are able to access the private and confidential information of a firm, thus leading up to increased cybercrimes. According to their argument, private and public institutions are losing billions of money per year due to cybercrime. In this way, it is advisable for companies to avoid exposing their presence in social media platforms as this will give hackers easier time to access even confidential information or login in to clients’ accounts.

Instead of making profit and improving their reputation to the public, some argue that most companies are losing their existing and potential clients due to negative comments that are received from the public. Understandably, competitors of specific companies may as will use such platforms to tarnish the business of their rivals. The objective of such comments is to paint a bad picture about a firm for any malicious motives. In some instances, the former employees or existing workers of a firm may decide to use proxy names with the aim of destroying the reputation of a company through social media platforms. In such situations, some argue that social media has brought havoc to many businesses as well as companies due to malicious attacks by the customers, the public, as well as the former or existing employees.

Based on this argument, it is clear that there is need to conduct a study on the role of sociol media platform in revolutionizing

Part 2: Identification and Use of Supporting Research and Data

According to Zarrella (2010), social media may not be applicable or suitable to every business. In fact, he argues that some business should keep off using social media platforms as this would not work for the benefit of achieving organizational goals. In this way, it is advisable that before launching business’s presence in any social media platforms, business people should plan properly in order to avoid wasting valuable money and time. On the same note, Kabani (2013) notes that some companies enter into social media circles without having a clear social media strategy or marketing strategy which result into reduction of benefits that would have been received by the business (Scott, 2010). In this way, there is need to conduct a study to ascertain the role of social media in business.

Part 3: Concepts and Theory

The paper will apply Viral Marketing Theory in addressing the role of social media platforms in business development. Notably, there are several marketing theories that are applicable in today’s businesses (Palmer, 2012). However, the recent development in marketing theory is based on the implications of technology and social media on marketing of products and services. Viral Marketing Theory is closely related to social marketing, which is a new form of communication, where people are able to discuss business matters using Facebook pages emails, and other electronic means. According to Viral Marketing Theory, company’s products are likely to go “viral” if they are correctly placed on the right platform (Jones & Silverstein, 2009). The theory argues that through social media platforms, business can make profit without directly incurring costs on advertising, public relations, and promotions. Therefore, the Viral Marketing Theory will be instrumental in trying to explain the relevance of social media platforms to the business development.

Part 4: Proposed Research Design

In this study, qualitative and quantitative research methods will be used. In qualitative method of research, the researcher is more concerned with the quality of the collected data. Notably, the research method and research approach must coincide to the credibility of the results of the study.

The primary source of data will be communication approach where the data will be collected through personal interviews. Therefore the method will entail the use of the correct approach in answering the research questions as well as meeting the objectives of the research project the interviews will seek to know the success stories of those companies that have used social media platforms to market their products and services. Besides knowing the specific platforms used by different organizations, the data collectors will also seek to know the number of business that have used or not used media platforms for marketing, thus making both qualitative and quantitative methods suitable for the study.

References

Evans, D., & McKee, J. (2010). Social media marketing: The next generation of

business engagement. Indianapolis, Ind: Wiley Pub.

Kabani, S. (2013). The Zen of Social Media Marketing: An Easier Way to Build

Credibility, Generate Buzz, and Increase Revenue. New York: BenBella

Books, Inc.

Top of Form

Palmer, A. (2012). Introduction to marketing: Theory and practice. Oxford: Oxford

Bottom of Form

Jones, S. K., & Silverstein, B. (2009). Business-to-business internet marketing: Seven

proven strategies for increasing profits through internet direct marketing.

Gulf Breeze, FL: Maximum Press.

Top of Form

Zarrella, D. (2010). The social media marketing book. Beijing: O’Reilly.

Scott, M. (2010). The New Rules of Marketing and PR: how to use social media,

blogs, news releases, online video, & viral marketing to reach buyers directly.

Hoboken, N.J.: John Wiley & Sons.

9505: Assignment 1