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Research Project. Social networks: How they influenced business and employment

Extracts from this document...

Introduction

´╗┐Extended Essay ________________ ITGS Social Networks: How they influenced the Business and Employment? Sharad Pawar International School Candidate Name: Karan Sonigara Candidate number: Session: May 2012 ________________ Abstract Living in the age in which social networking was born and saw its growth I was really interested in seeing the various fields in which social networking social networking is used. After learning about the vast useful ways in which it can be used for business and employment I was really interested in finding out in what ways social networks have changed the classical approach to things. So I decide to find out the ways in which social networks have helped businesses and professionals in various fields and accordingly my research question is: Social networks: How they influenced business and employment Social networking has saved businesses money by saving the costs of conducting surveys and reaching out to the consumers and other businesses in the same field. Similarly professionals in various fields use social networks to look for employment opportunities and stay connected with others in the field. This way they can come together and find solutions to the problems that they might face. In my essay I have looked at various surveys that were published to see if the possible applications of these networks aren?t just a theory. I referred to and analysed the statistics that I gathered from these surveys. The facts that I gathered are quite interesting and show the popularity and widespread applications of these networks. Based on these statistics and survey I conducted I found out if the applicability of these networks is only in the developed counties. Also I have secondary gathered data to look at the cost aspects of using social networking for business and employment and seen if these are only for the high income communities or even small businesses can benefit from the use of these networks. ...read more.

Middle

A high number of users of corporate social networks plan on spending more than 1000 $ on consumer electronics and about 92% said that they would prefer to buy a product that is recommended by their colleague. This is another important reason for the businesses to target the users of these websites. A majority of people on the websites believe that it is very important for a business to be present there; this implies that social networking is not just a mean of leisure but it can be used for serious businesses work also. The 29 % and rapidly growing number of skilful people around the world use these social networks to search for jobs. This way they can also communicate with other employees already working for the business and find out about the actual working conditions within a company. The employees can also about the working conditions of within the company. More than 45% of the people surveyed plan on spending more on social networking in 2012. This means that the seriousness of companies regarding social networking and its possible benefits is increasing. Social networking has also influenced online retail in major ways. The increasing integration of all the networks and websites online has helped e-commerce. Whenever someone buys a product using these websites the friends of the user are notified on the social networking sites. This could get some of the users interested in the products and could also increase the product sales. One of the examples of such a notification service is beacon which is developed by facebook the most popular social network website. Facebook can be also used for event promotion. As the social networks are increasingly synced with people?s smart phones and their calendars, businesses can use this synchronization to their benefit by keeping the users updated about business developments and any public events. If a user chooses to attend the event it will be added to his calendar and his friends will also be able to see it, this kind of viral marketing helps the business improve its products. ...read more.

Conclusion

No No No Yes No No No Yes No 2-29-2012 14:24:31 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.), Games (Ragnarok, World of Warcraft) No No No No No No No Yes No 2-29-2012 14:25:45 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.), Devices (Black Berry Messenger) Yes Yes No No Yes No No Yes Yes 2-29-2012 14:27:54 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.) Yes Yes No Yes Yes No Yes Yes No 2-29-2012 14:30:44 Websites (facebook, twitter etc.), Devices (Black Berry Messenger) Yes No No No No Yes No Yes No 2-29-2012 14:34:08 Messaging software (msn messenger, skype etc.) No No No No Yes Yes No Yes No 2-29-2012 14:39:54 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.), Devices (Black Berry Messenger), Games (Ragnarok, World of Warcraft) Yes No No Yes No Yes Yes Yes No 2-29-2012 14:43:02 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.), Devices (Black Berry Messenger) Yes Yes No No Yes Yes No Yes No 2-29-2012 14:44:40 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.), Devices (Black Berry Messenger) Yes Yes No No No No Yes Yes No 2-29-2012 14:46:04 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.) No Yes No No No No No Yes Yes 2-29-2012 14:49:59 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.), Devices (Black Berry Messenger), Games (Ragnarok, World of Warcraft) Yes No No No No No No Yes Yes 2-29-2012 14:53:13 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.), Games (Ragnarok, World of Warcraft) Yes No No No No No No Yes Yes 2-29-2012 15:00:28 Websites (facebook, twitter etc.), Messaging software (msn messenger, skype etc.), Devices (Black Berry Messenger), Games (Ragnarok, World of Warcraft) Yes No Yes No Yes Yes Yes Yes Yes ________________ [1] "26 Promising Social Media Stats for Small Businesses." Social Media Examiner. Web. 07 Mar. 2012. <http://www.socialmediaexaminer.com/26-promising-social-media-stats-for-small-businesses/>. Appendix 1 [2] "LinkedIn Audiences Highly Engaged, Active in Groups." MarketingProfs. Web. 07 Mar. 2012. <http://www.marketingprofs.com/charts/2011/5670/linkedin-audiences-highly-engaged-active-in-groups>. Appendix 2 [3] Appendix 3 ...read more.

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