The Importance Of Social Networking For Business Growth: A Business Research Analysis

1. Evaluate the effectiveness and your usefulness of the learning experience Make judgements that are clearly connected to observations you have made.

Answer the questions:
− What is your opinion about learning experience?
− What is the value of this experience?

2. Explain how this learning process will be useful to you

Consider: In what ways might this learning experience serve you in:
− course
− program
− future career
− life generally

Answer the question: ‘How you will transfer or apply your new knowledge and insights in the future?’

3. Describe objectively what happened in the learning process Give the details of what happened in the learning process. Answer the question:

‘What you did, read, see, and hear?

4. Evaluate what you learn

Make judgments connected to observations you have made in the Business Research. Answer the question: ‘How Business Research was useful for your Research Learning Process?’

5. Explain your learning process: New insights, connections with other learning, your feelings, hypotheses, conclusions. Answer the questions:

‘What was the reason you did particular activities (Assignment 1, Assignment 2?

6. Explain Plan how this learning you will applied

Comment on its relevance to your research subject, your course, future profession, life... Answer the question: ‘How might this learning apply in your future?’

According to me, social networking helps a business to control the variables that could influence the performance of the business. I have learnt that this strategy is helpful for several retailers for the purpose of developing the awareness among customers about the company. I have observed that this system has the significant role to expand the business and amplify the demand of the customers because of the convenience of getting the information in the relation of the products and services. I have found that the importance of social media in the supermarkets are increased day by day as it enable to connect the viewers and readers through different channels such as Twitter, YouTube, and Facebook. The example of Woolworth has been considered in the assignments that helped me to understand the use of social media in the supermarket company. I have learnt that it is noteworthy for Woolworths to increase the business into the big market by approving their products on different social media channels.

The use of learning experiences is very effective for me as I recognized that a corporation can face issues in relation of promotional and marketing activities due to globalization effects in the market. It showed that the use of social networking is a good strategy for enlarging the operations by developing the favourable responses not only for potential customers but also for current customers. I have observed throughout learning that traditional sales promotional tool could be employed by the company as it is favourable to expand the revenue of the company. I have realized that the social networking system has some negative influences as well as it is costly as well as untrustworthy mode as it has the potential to ruin the image of the company in term of wrong postings of feedback by customers on the site of the company (Taneja and Toombs, 2014). it has been found that people have the right to visit on the page of the company to impact of promotions and advertisements, yet; there is more chance of neglecting the advertising by people because of inadequate time. I have learnt that the social network makes the awareness of people towards the services and the products that help them to take their decisions on their own towards purchasing the products. It is also necessary for the business to increase the operations of the company with the potential customers (Trainor, Andzulis, Rapp and Agnihotri, 2014). It is evaluated that there are number of users that use online mode to buy the products as it offers a huge opportunity to Woolworths for increasing their business across the world.

This learning experience might serve me in my course by which I can perform better in future. I have found that there is a number of retailers are aware of the customers regarding the company. I have learnt that the social media networking system is vital for spreading information in the relation of the products and services which can be taken in use by the company. I have learnt that Woolworth has around 20 social media channels and fan following of over 2 million and attracts more than 3 million interactions per month (Turban, Outland, King, Lee, Liang and Turban, 2017). I have observed that there is a great importance of Woolworth in social media networking as the main strength of the company was in instant responses to the concerns it may have been facing. Along with that I have found that the major illustration of the way in which the use of social media is facilitated to build a sense of transparency.

Usefulness of Learning Process

I have taken use of qualitative as well as quantitative methods to accomplish the research in which I have found that both methods have a significant role in collecting the data regarding the research topic. Along with that, I have used research strategy, sampling method and action plan to make my research more convenient for the readers. I have found that the role of advertisement is huge in the supermarket as it helps to increase their productivity that is why it is required for the company to focus on advertising to make marketing strategy. I have learnt that there are a number of strategies that give a data for your business to target customers who are showing the interest in purchasing their goods as well as services (Verhoef,  Kannan and Inman, 2015). With the help of research method, I have analyzed that Woolworth focuses on the social networking website for the purpose of exploring the information in the relation to their products and services with high speed. Due to this strategy, I come to know that social networking sites are a major platform to collect and broaden the information regarding the product and services of the company. I read a number of journals and articles regarding the topic that enabled me to understand the role of social media in the different industry by which I was able to compare the use of it in various companies.

The role of business research is very important for me as it helps me to understand the use of social media networking in the supermarket company. I have found with the help of business research that the entire retail Supermarket of Australia cannot be evaluated to be focusing on environmental sustainability. I have found that the role of social networking in Woolworth is wide as it helps them to expand their business in the Global market (Boulouta and Pitelis, 2014). It is also illustrated that a high number of customers in Australia could also lead the company for increasing their publicity and profitability. I have found that 53% of Australians are loyal to their brand because of implementation of the social network. Along with that, I have observed that social media networking enables organisation to understand the needs and desires of the customers by which the organization can fulfil their demand and make them satisfied towards the services of the company (Grimmer, 2018).

There is a number of reasons to conduct business research into two assignments because the concept of both assignments are different as the first assignment entailed project objective, scope and the literature review of the research topic by which I learnt that the use of social media in the supermarket can do work as a boom for them. In my next assignment, I have learnt that how data can be collected in a significant manner by using various approaches and techniques. It helped me to understand the suitability of research design, approach, and type for this research (Smith, 2015). I made action plan in this assignment that enabled me to categories the activity as per their preferences. I have learnt that the sequence of activity and the proper time frame is must accomplish the research within the time frame as it helps in developing the better understanding about the project (Sekaran and Bougie, 2016). Along with that, I have realized through the first assignment that social networking could be a valuable approach for the company as it can get better its gratitude at international level (Kim and Johnson, 2016). Furthermore, Woolworths is using this approach to sponsor their products and services in front of both local and global customers. Thus, it can be suitable for a business to increase their important data among the size of customers in the least time.

This learning would be applied in my future to widen my awareness regarding the use of social media networking in the business. I have learnt that social networking system enables the connectivity of the business to the global extent. Furthermore, it facilitates people to interact without any interruption or mediator with the company in relation to their products and services as the modification can be done in the products and services as per their requirement.  It could be an effective approach which would be helpful in my further career to boost demand of customers. I have found that a social networking could be employed by Woolworth in 24*7 hours as it would be noteworthy to control the customers towards their brand (Bharati, Zhang, and Chaudhury, 2015). However, there are some negative factors of social networking that builds legal consideration in the company as it can be more expensive for business practices. Furthermore, the impact of social media can be for minimum time as I have learnt that it creates the difficulty for the company to manage for a long time. The company image can have a negative impact on users can present their unfavorable responses on the page of the company (Kohli, Suri, and Kapoor, 2015).

References 

Bharati, P., Zhang, W. and Chaudhury, A., 2015. Better knowledge of social media? Exploring the roles of social capital and organizational knowledge management. Journal of Knowledge Management, 19(3), pp.456-475.

Boulouta, I and Pitelis, C. N., 2014. Who needs CSR? The impact of corporate social responsibility on national competitiveness. Journal of business ethics, vol. 119, no. 3, pp.349-364.

Grimmer, L., 2018. The diminished stakeholder: Examining the relationship between suppliers and supermarkets in the Australian grocery industry. Journal of Consumer Behaviour, 17(1), pp.e13-e20.

Kim, A.J. and Johnson, K.K., 2016. Power of consumers using social media: Examining the influences of brand-related user-generated content on Facebook. Computers in Human Behavior, 58, pp.98-108.

Kohli, C., Suri, R. and Kapoor, A., 2015. Will social media kill branding?. Business Horizons, 58(1), pp.35-44.

Sekaran, U. and Bougie, R., 2016. Research methods for business: A skill building approach. John Wiley & Sons.

Smith, J.A. ed., 2015. Qualitative psychology: A practical guide to research methods. Sage.

Taneja, S. and Toombs, L., 2014. Putting a face on small businesses: Visibility, viability, and sustainability the impact of social media on small business marketing. Academy of Marketing Studies Journal, 18(1), p.249.

Trainor, K.J., Andzulis, J.M., Rapp, A., and Agnihotri, R., 2014. Social media technology usage and customer relationship performance: A capabilities-based examination of social CRM. Journal of Business Research, 67(6), pp.1201-1208.

Turban, E., Outland, J., King, D., Lee, J.K., Liang, T.P. and Turban, D.C., 2017. Electronic Commerce 2018: A Managerial and Social Networks Perspective. USA: Springer.

Verhoef, P.C., Kannan, P.K. and Inman, J.J., 2015. From multi-channel retailing to omnichannel retailing: an introduction to the special issue on multi-channel retailing. Journal of Retailing, 91(2), pp.174-181.