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Impact Of Social Media On Business Communication

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Question: Write about the Impact of Social Media on Business Communication.   Answer: Thesis statement: Business communication has evolved and has become indispensible part of the business organisations like Unilever      Communication has evolved and has become an indispensible part of the business organisations of today because it connects them to their stakeholders. Business communication has come a long way to reach the level of technology and accuracy it boasts of today. It educates external stakeholders like shareholders and customers about the strategies and policies of the companies. A smooth corporate communication keeps the employees informed about the expectations from them. Today social media has taken business communication to the next level where organisations communicate and connect to the stakeholders over the social sites like Twitter and Facebook. The multinational companies like Unilever use the social media as a part of their promotional strategies to promote their new products. The involvement of social media presents the organisations with an ocean of opportunities. However, the exposure on the social media also presents certain challenges before them. Business communication has come a long way today to reach the speed and accuracy it has achieved today. The advancement of science and technology has helped business communication to be faster which has helped business organisations to align communication with their business objectives. The introduction of mobile phones allowed the organisations and their staffs to communicate with each other even when physical away. The DVD and CDs helped the employees to carry and save data for use anytime and anywhere. This allowed to make trainings and announcements easier and accessible by a large number of employees simultaneously. The evolution of camera as a tool of business communication helped them to be installed on laptops and computers which allow the officials to hold meetings even when they are away physically. This has helped the executives working in the multinational corporations like Unilever to hold meeting and discuss matters with other especially to deal with tough situations. The future of business communication is extremely bright with science and technology improving by leaps and bounds. High definition closed circuit televisions, webcams and other modern discoveries and innovation are helping the various segments of the companies to communicate with each other on real time basis. For example, a strong communication channel enables Unilever to communicate and control its globally established supply chain. The strong communication between the British Dutch company and the suppliers can be attributed for uninterrupted supply of raw materials and consequent production (Kembro and Näslund 2014). Business communication with the stakeholders like customers, shareholders and suppliers have become so crucial that today all the multinational companies have official website pages to communicate their policies, strategies and even financial results. The most recent develop in corporate communication is that these companies even communicate with the stakeholders over Facebook, Twitter and other social networking internet sites. They even use the video sites like Youtube so that interested stakeholders like consumers can view their advertisements and product videos at any given point of time. Unilever even communicates its policies and strategies through newspapers both physical and digital ( 2017). The companies including the multinational companies are facing some serious challenges with business communication. Business communication has become extremely important today and requires continuously investment in technology. Formal communication channels keep the departments like production, accounting and marketing connected to each other. This ensures smooth flow of operations and production in the companies which goes into satisfying the customers. The continuous production of products allows the companies to cater to the market and earn huge profits. This helps them to lower their cost of production and gain economies of scale. The multinational companies like Unilever have vast financial resources to fuel their investment in upgrading their communication channels using latest technology. However, the small companies with limited resources find it tough to upgrade their communication channels (Zhang and Chun 2016). For example, Unilever declared increase in dividend which means that the company needs to communicate the information to its shareholders (MorningstarUK 2017). The British-Dutch company attracts investment from all over the globe which means that it has to spend a huge amount of money to communicate the information worldwide. It may seem a big challenge for Unilever but it definitely a big challenge for smaller companies.   Business communication requires continuous investment by the companies in order to update and upgrade them. The companies cannot demean the importance of corporate communication to gain competitive advantage in the market. Today companies encourage transformational leadership and encourage their employees to participate in decision making. This requires the superiors to pass down larger bodies to information to the subordinates. This exposure and sharing of information often exposes the companies to theft of critical information by employees. The companies toady need to upgrade their communication platforms and system to check theft of business information and ensure legitimate sharing (Millerjord and Sundström 2015).       The risk of theft of information is not only limited to the employees but goes beyond that. The continuous up gradation of communication technology requires companies to hire external firms. The companies often have to share a lot of information with these external bodies which exposes the companies to greater threat of information leakage. This often leads to loss of potentially important data which has serious impact on the companies. This has forced companies to have strict privacy policies to protect their data. For example, Unilever practices a strong privacy policy for the people who use its website to exchange information ( 2017). The multinational companies have strong communication network  that has extended to Twitter and facebook. This has made communication with shareholders and customers easier for the companies. This has revolutionised business communication but has exposed the multinationals before greater threats. The multinational companies today share a great deal of information over the digital platform. This leads to undeserved elements and groups getting to know about their strategies and policies. The multinational organisations like Unilever communicate their financial results to the stakeholders through their websites and various other means. The terrorism groups come to know about the financial strengths of the companies and extort them which erode their capital (Mark and Nwaiwu 2015). For example, Unilever had to withdraw products after it received threat calls from unidentified groups. The calls were supposedly made in order to sabotage the company and make it withdraw its products ( 2017). Business communication has changed and revolutionised the way business is conducted in today’s world. It has become so important to the companies that some big companies have assigned departments dedicated to it. Business communication has become an integral part of business strategies. Today organisations communicate their policies to the external and internal which gives them clear idea about them (Turkulainen, Aaltonen and Lohikoski 2015). The world market is dominated by the multinational companies which have operations in several markets other than their home countries. Unilever has its headquarters in London, the United Kingdom and Rotterdam, Netherlands.  The company is present in several nations in Europe, Middle East, Asia Pacific, America and Africa. These markets also have the presence of other multinational companies like Procter & Gamble which compete with Unilever. This requires the company to integrate all the locations through a strong communication channel that spans the whole world (Malouf, Selakovi? and Ljepava 2016). The strong communication channels allow the officials positioned in different geographical locations to interact with each other on real time basis and make strategies to take advantage of market situations. Thus, today advancements in business communication have made business transactions faster and accurate (Cornelissen 2014). Business communication is not limited among the officials and goes beyond that. Promotion is a form of business communication which the companies use to spread awareness about its products in the market to create demand. The increasing intensity of competition in the international market space has led the companies use communication
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